Raymond James Financial, Inc. (RJF, Financial) has announced a significant leadership transition as part of its previously-disclosed succession plan. On December 3, 2024, the company revealed that Paul C. Reilly, the current Chair of the Board of Directors and Chief Executive Officer, will step down from his CEO role following the Annual Shareholders Meeting on February 20, 2025. Mr. Reilly will transition to an Executive Chair role for a period determined by the Board.
In a unanimous decision by the Board, Paul M. Shoukry, currently serving as President and director, has been appointed as the new CEO, effective upon Mr. Reilly’s transition. Mr. Shoukry has been instrumental in working closely with the company's business unit heads on strategic and operational matters. His extensive experience includes serving as Chief Financial Officer until September 30, 2024, where he managed the company's financial operations, including balance sheet management, financial reporting, and investor relations.
Mr. Shoukry's career at Raymond James began in 2010, and he has held various key positions, including treasurer and senior vice president of finance and investor relations. His educational background includes a magna cum laude graduation with bachelor’s and master’s degrees in accounting from The University of Georgia, and an MBA from Columbia University. He is also a Certified Public Accountant and a Certified Treasury Professional.
The Compensation and Talent Committee of the Board will finalize the compensation arrangements for both Mr. Reilly and Mr. Shoukry in their new roles at a later date. This leadership transition marks a new chapter for Raymond James Financial as it continues to strengthen its strategic direction and operational excellence under new leadership.
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