Raymond James says that Chief Investment Strategist Jeff Saut, 69, is retiring this week.
“We thank Jeff for his 20 years of service to financial advisors and their clients, as well as the awareness he helped build of Raymond James’ sophisticated suite of investment thought leadership. We wish him well in his future endeavors,” the company said in a statement.
The firm, which did not mention replacing Saut in the statement, says it “retains a very robust investment strategy team led by Chief Investment Officer Larry Adam,” who joined the firm in November. Previously, he was Deutsche Bank’s chief investment officer for the Americas and its global chief investment strategist.
Saut — a popular speaker at Raymond James’ conferences and on TV channels like CNBC — joined Raymond James in 1999, when Roney & Co. became part of the firm.
He started his career on a trading desk in New York in the early 1970s and then joined E.F. Hutton. He went on to become a securities analyst for Wheat First Securities.
Saut’s earlier jobs included director of research at Branch Cabell & Co., portfolio manager for Exeter Capital Management, director of research for Ferris, Baker Watts, and managing director of equity capital markets for Sterne, Agee & Leach.
CFO Julien to Retire
In March, Raymond James said Chief Financial Officer Jeff Julien — who has been with the firm since 1983 — will retire at year-end. He is set to be replaced by Paul Shoukry, the firm’s treasurer and senior vice president of finance and investor relations.
As part of Julien’s retirement, he will remain a director on the bank board and a member of several management committees.
Recently, Raymond James hired a former Charles Schwab executive as head of its Investment Advisors Division, which works with RIAs: Greg Bruce, who previously was managing director of the Great Lakes Region for Schwab Advisor Services.
Raymond James has a total of 7,815 independent and employee advisors in the U.S., Canada and United Kingdom. It will report its latest financial results on Wednesday.
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