Raymond James has hired Larry Adam for the new position of chief investment officer for its Private Client Group. Adam moves to the broker-dealer from Deutsche Bank, where he was both chief investment officer–Americas and global chief investment strategist for Deutsche Bank Wealth Management.
He worked for Alex. Brown & Sons starting in 1992 and stayed with the firm through both its 1997 purchase by Bankers Trust and later acquisition by Deutsche Bank in 1999; Raymond James bought the business from Deutsche Bank in 2016, when it had about 200 financial advisors and $40 billion in assets.
“Raymond James’ advisors appreciate and leverage our award-winning research and thoughtful investment insights when considering market, economic and policy forces on their clients’ investments,” according to Chairman and CEO Paul Reilly.
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“Adding Larry’s leadership, impressive background and experience, deep industry knowledge and nuanced investment perspectives delivers on our commitment to provide advisors and clients with the best tools and resources available,” Reilly added.