Raymond James is recruiting multiple managing directors from Jefferies' consumer and retail investment banking unit, according to sources. The hires expand RJF's capability in the consumer/retail advisory space, potentially boosting deal flow and revenue over the next 6-12 months. No terms or timing were disclosed.
Raymond James reported Q3 ended June 30, 2026 with record net revenues of $3.93B and net income of $595M. PCG assets under administration reached $1.92T, with fee-based accounts at $1.15T, while Clark Capital added $36B AUM through the acquisition. The results fuel optimism for momentum into fiscal Q4 and continued growth.