Raymond James CEO on Expansion Push, Tax Reform

The video discusses Raymond James' strategic growth in investment banking, focusing on M&A activities and expansion into Europe. It highlights the firm's competitive stance in the market, including the Intel Mobileye deal, and addresses the challenges posed by larger banks like Goldman Sachs. The video also covers activism defense, wealth management, and direct investment strategies, emphasizing the role of family offices. Finally, it touches on client concerns regarding tax reform, particularly the corporate tax rate and its implications for medium-sized businesses.

What was a key factor in Raymond James' growth in Europe?

• Focus on domestic market

• Decrease in research investments

• Reduction in underwriting business

• Acquisition of Mummert Company Melmer

What was the most notable deal for Raymond James this year?

• Merger with a tech company

• Partnership with Goldman Sachs

• Intel Mobileye deal

• Acquisition of a European bank

How does Raymond James view the competition from larger banks in the middle market?

• As an opportunity for collaboration

• As irrelevant to their strategy

• As a significant threat

• As a minor challenge

What is the outlook for activism defense according to Raymond James?

• It is only relevant in Europe

• It remains active and may increase

• It is declining rapidly

• It is becoming obsolete

What is driving the increase in direct investments by family offices?

• Higher returns in public markets

• Lack of investment opportunities

• Lower fee structures and niche investments

• Increased regulation

What is a concern for clients regarding tax reform?

• Complexity of pass-through rules

• Increase in corporate tax rate

• Reduction in middle-class benefits

• Decrease in individual tax rates

What has been a key factor in Raymond James' growth in wealth management?

• High employee turnover

• World-class retention and recruiting

• Reduction in client services

• Focus on small businesses