This is an example of a busy period of moves and arrivals at the international wealth management house in recent weeks.

The chief investment strategist at Raymond James, Jeff Saut, is retiring, adding to a raft of moves and changes at the US wealth management house in recent weeks. Saut, 69, yesterday informed the business that he is retiring as of April 26. 

The firm said its investment strategy team is led by chief investment officer Larry Adam, who joined the firm in November 2018. He was previously Deutsche Bank’s CIO for the Americas and global chief investment strategist.

Raymond James, which operates in North America, the UK and Australia, said in March that its executive vice president, finance and chief financial officer, Jeff Julien, is to retire at the end of this year. The firm, based in St Petersburg, Florida, has also brought over a number of wealth management teams from across the US, such as here, here and here.

In February, Carillon Tower Advisers, the asset management arm of Raymond James with $64.6 billion in assets under management and advisement, raised its stake in ClariVest Asset Management, making the latter a wholly-owned subsidiary of Carillon Tower’s affiliate, Eagle Asset Management. 

Raymond James reported net revenues of $1.93 billion and net income of $249 million, or $1.69 per diluted share, for the quarter ended December 31 last year. Private Client Group assets under administration reached $690.7 billion at the end of last year, unchanged from a year earlier, and fell by 9 per cent from September 2018 as a result of weaker equity markets. The firm bought M&A specialist Silver Lane Advisors in January.