TORONTO, Sept. 8, 2015 /CNW/ - Raymond James Ltd., the Canadian arm of North American investment dealer Raymond James Financial Inc., has announced that Terry Hetherington, currently Head of the firm's Private Client Group, will step back from his day-to-day management responsibilities to take on other strategically important roles, effective October 1, 2015.
"Terry has done an exceptional job leading our Private Client business over the past seven years," said Paul Allison, Chairman and Chief Executive Office of Raymond James in Canada. "He will continue to be a key member of our leadership team as Vice Chairman, Private Client Group focused on special projects and advisory assignments."
"I am excited about tackling new challenges and being part of the ongoing growth of Raymond James in Canada," said Hetherington. "We are in a very good place to take our business to an even higher level of excellence."
With this change, the firm is promoting two senior executives from within, effective October 1, 2015.
Richard Rousseau is promoted to Executive Vice President, Head of Wealth Management, Private Client Group. Richard will oversee the growth and development of the firm's Canadian branch network, as well as its recruitment business.
Mario Addeo is promoted to Executive Vice President, Head of Private Client Solutions, Private Client Group. Mario will lead the firm's wealth management solutions, investment insights, products, services, development and practice management initiatives for Raymond James advisors.
Both Rousseau and Addeo will report to Paul Allison.
"Our vision is to be globally recognized as a leader in wealth management," said Allison. "These changes are key to fully integrating our branch network and private client solutions to better serve our clients and our advisors."
Rousseau and Addeo are both widely respected within the industry and have earned reputations for building successful franchises. "I am extremely excited and honoured to have this opportunity," said Rousseau. "The fact that the Raymond James culture is so fixed on advisors and their clients is a clear advantage in today's industry."
Mario Addeo also underscored the opportunities that lie ahead. "We have a laser-like focus on creating Canada's leading wealth management firm," said Addeo. "We are doing this by creating an environment that gives our Advisors the freedom to put their clients' interests first at all times."
Raymond James is a leading North American independent full service investment dealer offering an extensive range of professional investment products and services including: private client service portfolio management, financial and estate planning services, insurance, equity research, investment banking and institutional sales and trading. Through its network of more than 6,300 Financial Advisors and Portfolio Managers across Canada and the United States, Raymond James serves more than 2.6 million individual investors and their families, and oversees more than CDN $600 billion in client assets on their behalf.
SOURCE Raymond James Ltd.
For further information: Peter Kahnert, SVP, Corporate Communications and Marketing, (416) 777-7052, [email protected]