Raymond James’ employee-advisor channel says it hired industry veteran Patrick O’Donovan to be part of its Indiana management team. Based in Indianapolis, O’Donovan will lead the complex in the southern part of Indiana and four branches in the northern part of the state; he will take the reins from Indiana North Complex Manager Joe Touchton in December 2018, when Touchton is set to retire.
“It’s exciting to have Patrick join the Raymond James team in Indiana,” said John Kuklenski, Northern divisional director for Raymond James & Associates, in a statement. “Patrick was a highly regarded complex manager with Smith Barney, then Morgan Stanley and had many successes, so we are delighted he selected Raymond James as the firm with which he can further his career and contribute to our growth in the Indiana market.”
O’Donovan has spent 32 years in branch/complex management, after beginning his career in 1981 with C&S National Bank in Charleston, South Carolina. He joined Smith Barney’s Fort Myers, Florida, office in 1996 and was named head of Smith Barney’s Kentucky complex in 2004.
In 2009, he was named complex manager for Morgan Stanley’s Greater Michigan complex and was promoted to managing director and complex manager of the Southeast Michigan complex in the Detroit metro area three years later. In 2015, O’Donovan took over the management of the Carolinas Complex in Charlotte, North Carolina, which had 208 advisors with $165 million in annual revenue in 12 branch offices — including some in Georgia.
In August 2016, the executive became head of strategy for SunTrust’s Premier Banking and Investment Group in Atlanta.
“I am thrilled to be joining Raymond James,” said O’Donovan, in a statement. “I … look forward to helping the firm grow in this market — both organically by supporting our existing advisors, as well as by recruiting both experienced and new talent to the firm. We have such a great opportunity in this state, particularly in the area of succession planning — and I am looking forward to telling our story.”
In other news, Raymond James said Jim Bunn, currently head of Investment Banking, will be promoted to the role of co-president of Global Equities and Investment Banking with current President Jeff Trocin on Oct. 1. Bunn will join the firm’s Executive Committee and report directly to Chairman and CEO Paul Reilly.
“Jim joined the firm via the Lane Berry acquisition in 2009 and has done an exceptional job of leading the growth of our Investment Banking practice since being named as a Co-Head of that business in 2013,” Reilly said, in a statement. “Jeff Trocin and I have a great deal of confidence in Jim and look forward to working with him more closely in his expanded role.”
Bunn has nearly 20 years of investment-banking experience, cutting his teeth in 1998 at Salomon Smith Barney/Citigroup as a member of the Financial Technology Investment Banking team.
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