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Departing head of Alex. Brown Haig Ariyan

Industry Spotlight > Mergers and Acquisitions

Alex. Brown Chief to Leave Raymond James

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Raymond James says Haig Ariyan, president of the firm’s Alex. Brown division and head of Global Wealth Solutions, will leave to “pursue an opportunity” outside the firm on July 15.

“Haig has been instrumental in the successful integration and subsequent growth of the Alex. Brown business following the acquisition of the U.S. Private Client Services Unit of Deutsche Asset & Wealth Management in 2016,” said Raymond James Chair and CEO Paul Reilly in a statement. 

As part of the transition in leadership, Alex. Brown and Global Wealth Solutions COO Michael Tormey, as well as Alex. Brown managing directors John Sutton and Brett Kellam, will report to Raymond James & Associates President and CEO Tash Elwyn starting in mid-July.

Also, Bill Seugling, managing director of the firm’s Investment Solutions group, has been appointed head of Global Wealth Solutions; he is set to report to Scott Curtis, Raymond James’ Private Client Group president.

“Raymond James’ well-regarded culture allowed me and the Alex. Brown team to evolve our business through a combination of entrepreneurialism and focused attention on advisors and their clients’ individual wealth planning needs,” Ariyan said in a statement. “I’m excited to see how Alex. Brown and the Global Wealth Solutions group grow on the foundations we built together. I’m confident their records of success will continue.” 

Raymond James has about 8,700 independent and employee financial advisors. The firm works with total client assets of $1.18 trillion.  

“Haig’s leadership and contributions have been instrumental to our growth and success,” PCG President Scott Curtis said in a statement. “We remain committed to the Alex. Brown business, advisors and clients.”