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Raymond James Financial’s president, Canadian CEO stepping down

John Carson, the firm’s president, and Paul Allison, head of its Canadian operations, will leave their posts Dec. 31.
Raymond James Financial announced Monday afternoon that president John Carson will retire at the end of the year. So will Paul Allison, the chairperson and CEO of the St. Petersburg wealth management firm’s Canadian subsidiary, Raymond James Ltd.
Raymond James Financial announced Monday afternoon that president John Carson will retire at the end of the year. So will Paul Allison, the chairperson and CEO of the St. Petersburg wealth management firm’s Canadian subsidiary, Raymond James Ltd. [ Tampa Bay Times ]
Published Dec. 6, 2021
Updated Dec. 6, 2021

One of Tampa Bay’s largest companies is about to see a shakeup at the top.

Raymond James Financial announced Monday afternoon that President John Carson will retire at the end of the year. So will Paul Allison, the chairperson and CEO of the St. Petersburg wealth management firm’s Canadian subsidiary, Raymond James Ltd.

Both men are expected to remain with the company — Carson as vice chairman, and Allison in the new role of RJL executive chairperson, guiding a management team and working with senior clients.

A company spokesperson said Raymond James’ board of directors approved the moves during a meeting last week.

Carson has been with Raymond James since 2012, when the company purchased Morgan Keegan, where he was CEO. In addition to his role as president, he was head of the company’s Fixed Income and Public Finance divisions.

John Carson, the president of Raymond James Financial, will retire at the end of 2021.
John Carson, the president of Raymond James Financial, will retire at the end of 2021. [ Raymond James Financial ]

“When we purchased Morgan Keegan, where John was CEO, in 2012, we knew we were also bringing in an outstanding leader and visionary who could help us continue to grow and adapt to evolving client needs,” Raymond James Chairperson and CEO Paul Reilly said in a statement. “His skill as a business leader is eclipsed only by his compassion and thoughtful approach to working with people. He will be sorely missed.”

Horace Carter, Raymond James’ executive vice president of Fixed Income Capital Markets, will replace Carson as president of Fixed Income. Gavin Murrey, president of Public Finance and Debt Investment Banking, will oversee Public Finance.

Allison has been with Raymond James for more than a dozen years. In his new role, he’ll oversee several boards, including the Raymond James Canada Foundation. He’ll also remain chairperson of the Investment Industry Regulatory Organization of Canada.

Paul Allison, the CEO and chairperson of Raymond James Financial's Canadian subsidiary, Raymond James Ltd., will step down from his post at the end of 2021.
Paul Allison, the CEO and chairperson of Raymond James Financial's Canadian subsidiary, Raymond James Ltd., will step down from his post at the end of 2021. [ Raymond James Financial ]

“Paul has been a phenomenal leader during a remarkable period of organic and acquired growth in Canada over the past 13 years,” Reilly said in a statement. “We are fortunate to continue to benefit from his deep expertise as we strive to deliver world-class wealth management solutions for our Canadian clients and their families, and best-in-class executions for our Capital Markets clients.”

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Replacing Allison as CEO will be Jamie Coulter, the firm’s executive vice president of wealth management, who has been with the company for 25 years.

“Jamie’s widely respected throughout Raymond James, and his broad background across all business lines, coupled with his extensive knowledge of the firm and the industry, make him an excellent choice as CEO,” Reilly said in a statement.