Raymond James Financial has announced a carefully orchestrated leadership succession plan set to unfold over the next year and a half, marking a pivotal moment in the company’s history. CEO Paul Reilly, who has led the financial services firm since 2010, will retire prior to October 2025. This planned departure initiates a broad set of executive changes designed to ensure continuity and strategic growth.
In preparation for Reilly’s retirement, the firm has named current Chief Financial Officer Paul Shoukry as his successor. Shoukry has been appointed president of Raymond James effective immediately, a role he will hold concurrently with his CFO responsibilities until further notice. This dual role is intended to facilitate a smooth transition and allow Shoukry to gradually assume the day-to-day leadership responsibilities of the CEO position.
Shoukry joined Raymond James in 2010 and has steadily risen through the ranks, holding various leadership positions across finance and treasury. His deep understanding of the firm’s operations and strategy makes him a natural choice for the top job. The leadership team and board of directors have expressed full confidence in his ability to guide the company into its next chapter.
The succession plan also encompasses additional senior leadership adjustments. Chief Operating Officer Jeff Dowdle will retire as part of the transition. Replacing him will be Scott Curtis, currently serving as president of the Private Client Group. Curtis has been a key leader within the organization, instrumental in expanding the firm’s wealth management business and deepening client relationships. His operational expertise and familiarity with the firm’s culture position him well to take on the broader responsibilities of COO.
To fill Curtis’s former role, Tash Elwyn has been appointed as the new president of the Private Client Group. Elwyn has a longstanding history with Raymond James and has served in various capacities, including leadership within the branch and advisor services. His promotion is expected to maintain continuity and uphold the client-focused approach that is a hallmark of the group.
Further strengthening the executive team, Jim Bunn will step into the role of president of the capital markets segment starting October 1, 2024. Bunn has led strategic initiatives within capital markets and brings a forward-looking vision to his new role.
Raymond James’ comprehensive leadership transition strategy reflects its commitment to thoughtful succession planning and stability. The changes are designed not only to honor the contributions of outgoing leaders but also to position the firm for continued success in a competitive financial landscape.
