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Raymond James' headquarters in St. Petersburg, Florida

Industry Spotlight > Broker Dealers

Raymond James Taps New CFO as Leadership Shuffle Continues

By John Manganaro

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Raymond James announced this week that its CEO-in-waiting, Paul Shoukry, will be replaced in his prior role as chief financial officer by Butch Oorlog, currently the chief accounting officer of Raymond James Financial.

Paul Reilly, the outgoing CEO, who will remain board chairman, said the selection of Oorlog as CFO is another important step in a carefully coordinated succession planning process that is critical for the firm’s ongoing success.

“The board, Paul Shoukry and I are confident that our long-term succession planning process has identified and developed capable and experienced leaders to partner with Paul as we build for the firm’s future,” Reilly said.

In another key appointment within the Private Client Group, Tom Walrond, a senior vice president and division director, has been named president of Raymond James and Associates, the firm’s employee affiliation option. He replaces Tash Elwyn, who, as previously announced, will take on leadership of the overall Raymond James Financial Private Client Group after Scott Curtis becomes the firm’s chief operating officer.

The firm has also recently promoted and reassigned a number of other top executives, all effective in October, including:

  • Steve Raney, CEO and chairman of Raymond James Bank, has been promoted to oversee the firm’s bank segment and will become executive chairman of Raymond James Bank. Amanda Stevens has been named as his replacement as CEO of Raymond James Bank.
  • Steve Hufford, chief operating officer of investment banking, will take over as head of investment banking upon Jim Bunn’s appointment to president of the capital markets segment.
  • Bella Allaire, executive vice president of technology and operations, will become chief administrative officer, a role in which she will lead firmwide business process innovation and service enhancement initiatives. Allaire will be succeeded by the current chief information officer, Vin Campagnoli, who will in turn be succeeded by technology COO Andy Zolper.
  • Tarek Helal, a senior vice president of investments and strategy, has been named chief strategy officer, a newly created role. He will lead the firm’s corporate development, cash solutions and cross-border activities, along with new product and new business oversight.

“Together, those taking on new responsibilities represent over 100 years of experience with Raymond James,” Reilly said.

Shoukry added that being able to fill all of these senior leadership positions with internal promotions is a testament to Raymond James’ longstanding focus on talent development and succession planning.

“Most importantly, these leaders all share a commitment to reinforce and strengthen our unique values and culture at Raymond James,” he said.

John Manganaro

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