Tim Killgoar, head of the Financial Institutions Division of Raymond James as of April 1

The Financial Institutions Division of Raymond James has a new chief: Tim Killgoar, who takes over on April 1 from John Houston.

Houston, a certified financial planner, has led the group for the past 11 years and is set to become head of the group’s Eastern Division so he can relocate to Nashville.

“After a diligent review of external and internal candidates, I am pleased we will continue to benefit from Tim’s strategic insight into the business as he takes on this leadership role,” said Scott Curtis, head of Raymond James Financial Services, in a statement.

The group currently includes 725 independent advisors who are working in more than 200 financial institutions nationwide. That headcount is nearly double the 375 representatives who were in the division in 2005. 

“We are fortunate John [Houston] will continue supporting our bank and credit union clients and financial advisors in the Eastern Division,” Curtis said.

Under Houston, the financial institutions group has had a compound annual growth rate of 10.6% in its revenue since 2002, according to Raymond James.

“I am thankful to Scott Curtis and the Raymond James leadership team for supporting my transition into this new role,” said Houston, in a press release.

For his part, Killgoar joined the Financial Institutions Division in May 2015 as the director of strategy and consulting. He previously served as Raymond James’ director of client experience, which focused on improving satisfaction, experience and loyalty across the firm.

From 2008 to 2010, he worked directly for the firm’s former chairman and CEO, Tom James, supporting senior management on strategic and operational initiatives. Prior to joining Raymond James, Killgoar worked for Bank of America on operational and technology integration projects in the U.S. and overseas and as a consultant for Andersen in its Charlotte-based national financial services practice.

I look forward to continuing to work with Scott, John and the rest of our leadership team as we extend our presence as a leader in providing brokerage and advisory services and solutions to banks and credit unions across the country,” said Killgoar, in a statement.

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