Investment bank and brokerage Raymond James Financial Inc (RJF.N) is considering a string of small deals to boost revenue without spoiling its small-firm culture. The St. Petersburg, Florida-based company created a corporate development unit to review small deals that will bolster Raymond James' brokerage, trading and investment banking activities, Chief Executive Paul Reilly said at the firm's closed-door annual investor day on Wednesday. "Hopefully, you'll see us as a serial niche acquirer," Reilly said in his presentation, first made available to the public on Thursday through its website. The regional investment bank is one of the few that has remained independent during a consolidation craze among boutique investment banks and brokerages in recent years. It also survived the financial crisis largely unscathed.
Raymond James Financial, Inc. (RJF) is a holding company whose subsidiaries are engaged in various financial services businesses predominantly in the United States of America and Canada. Shares of RJF traded higher by 1.41% or $0.49/share to $35.26. In the past year, the shares have traded as low as $22.91 and as high as $39.68. On average, 643477 shares of RJF exchange hands on a given day and today's volume is recorded at 921026.
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