Raymond James Ltd. has appointed Peter Moores as chief executive office of Canadian operations, pending regulatory approval.Alistair Veryard/Supplied
After a six-month executive search, Peter Moores, the chief executive officer of Raymond James Financial Ltd.’s U.K. operations, will jump across the pond to lead the company’s Canadian operations.
Toronto-based Raymond James Ltd. announced Wednesday that Mr. Moores will replace interim CEO Paul Allison, who stepped into the role last September after the unexpected departure of then-CEO Jamie Coulter.
Mr. Moores still needs to obtain regulatory approval from the Canadian Investment Regulatory Organization before a start date is announced. Mr. Allison, who is also the chair of Raymond James Ltd., will remain CEO during the transition period.
Upon approval, Mr. Moores will report to Paul Reilly, executive chair of U.S-based parent company Raymond James Financial RJF-N.
“Peter’s well-earned reputation as a champion for advisors combined with his track record for building a profitable and growing business ideally position him to lead Raymond James Ltd.’s strategy going forward,” Mr. Allison said in a statement.
Mr. Moores first joined Raymond James in 2004. Over the years, he has held a number of roles within the U.K.’s wealth management division, capital markets and investment banking business. In 2013, he was appointed CEO and country manager for all of Raymond James’s business lines in the U.K.
Prior to Raymond James, he held senior leadership roles at DAB Bank AG in Germany and JPMorganChase in New York.
With $100-billion in assets under management and 520 advisers, Raymond James Ltd. is ahead of the growth target that Mr. Coulter announced in 2022, when he vowed to increase company assets from $70-billion under management to more than $100-billion by 2027.
“Raymond James Ltd. is at a positive inflection point in its growth thanks to a combination of strategic investments in technology and the quality of advisors who join us for the freedom to run their business with support from the firm – and no cross-selling requirements,” Mr. Moores said in the statement.
“I am looking forward to advancing that strategy while further leveraging the scale of our global business to benefit Canadian advisors and clients.”
U.S. CEO Paul Shoukry said in a release that Raymond James Financial’s focus in the long term continues to extend to its Canadian operations, and the parent company will continue to invest in the platform and new capabilities that will benefit advisers.
“Peter’s appointment reflects our confidence in future growth as more Canadian advisors see the unique appeal of our value proposition, backed by Raymond James Financial’s strong balance sheet and well-known commitment to true independence.”