Longtime Raymond James Ltd. veteran Jamie Coulter is stepping down from his CEO role, effective Sept. 30, according to an internal announcement at the firm.
“I understand this news may come as a surprise and want to assure you that while leadership changes can be challenging, our priorities, strategic direction and focus on our people remain unchanged,” Paul C. Reilly, executive chairman with parent company Raymond James Financial Inc., said in the announcement.
Coulter, who is a 30-year veteran of Raymond James, became the Toronto-based firm’s CEO in January 2022, succeeding Paul Allison.
Allison, currently non-executive chairman, will be interim CEO, “effective immediately,” Reilly said in the announcement. “In addition to Paul, we’re fortunate to have a talented and tested leadership team in place and remain confident in the strength of our business and the opportunities ahead.”
Before he was appointed CEO, Coulter was executive vice-president of wealth management, beginning in 2019. He originally joined Raymond James’ predecessor firm Goepel McDermid Inc. in 1995, and has held senior positions in both the firm’s private client and equity capital markets divisions.
“Working alongside the remarkable group of dedicated professionals at this organization has been one of the most rewarding experiences of my career,” Coulter said in the announcement. “We’ve made tremendous progress together establishing a thriving business in an incredibly competitive market. Even more importantly, we have grown together in a way that embraces Raymond James’ unique culture, stays true to our core values, and fully reflects our Canadian heritage.”
“While change can be difficult, it also creates new opportunities,” Coulter said. “I am hopeful each of you will seize them in the coming months and beyond.”
Raymond James had $88.1 billion in assets under management (AUM) in Canada as of Dec. 31, 2024, and last fall committed to reaching $125 billion in AUM within five years — a 42% increase, in line with the firm’s track record.
In June, Coulter said the firm was investing “tens of millions of dollars” in FNZ Group’s integrated wealth management platform, with a three-year implementation plan. The investment is part of Raymond James Financial Inc.’s US$1-billion allocation to tech and security infrastructure across the company globally in fiscal 2025.
Reilly had stepped down as CEO of Raymond James Financial earlier this year, with Paul Shoukry, previously president and chief financial officer, taking on the CEO role.