Raymond James CEO Paul Reilly to step down in 2025, Paul Shoukry to succeed

Raymond James announced that as part of its multi-year succession planning process, effective immediately, CFO Paul Shoukry is appointed president of Raymond James Financial. It’s expected that he will become the firm’s CEO sometime during fiscal 2025, following a transition period. Once the planned succession process is complete, Shoukry would become only the fourth chief executive in the company’s history, and current chair and CEO Paul Reilly would remain on the board as executive chair. Shoukry will retain his current responsibilities until he transitions to the CEO role. As part of the firm’s succession plans, Raymond James is announcing other key leadership changes and appointments. Jeff Dowdle has announced that he will be retiring and stepping down from the COO role at the end of the fiscal year. As part of this change, Raymond James Financial Private Client Group president Scott Curtis will become COO of Raymond James Financial, current Raymond James & Associates CEO Tash Elwyn will become president of the Private Client Group, and Global Equities & Investment Banking President Jim Bunn will become president of the Capital Markets segment. These changes will be effective October 1, at which time Dowdle will be named vice chair and serve in an advisory role to facilitate a transition.