ST. PETERSBURG, Fla. – Raymond James Financial, Inc. (NYSE: RJF) announced today that Seth Waugh, former CEO of Deutsche Bank Americas, will be appointed non-executive chairman of Alex. Brown, a division of Raymond James, upon closing of the acquisition of the US Private Client Services unit of Deutsche Bank Wealth Management, expected in September 2016.
In this leadership role, Waugh will focus on client and advisor relationships while helping drive Alex. Brown’s strategic direction.
“Throughout his 35-year financial services career, Seth has earned the respect and admiration of colleagues and clients alike while developing lasting relationships across the marketplace,” said Raymond James CEO Paul Reilly. “Adding a professional with his experience and contacts will not only benefit the future Alex. Brown division, but Raymond James overall.”
Prior to joining Deutsche Bank in 2000, Waugh was CEO of Quantitative Financial Strategies, a $2.5 billion hedge fund. He spent 11 years in various leadership roles at Merrill Lynch, culminating in Co-Head of Global Debt Markets, the most profitable division of the firm at the time.
Waugh’s industry positions have included board seats with SIFMA, The Clearing House, the Financial Services Forum and the FINRA Board of Governors. He is currently a board member of Franklin Templeton Investments and serves on the advisory boards of Workday, Inc. and The PGA of America. He conceived the Deutsche Bank Americas Advisory Board in 2006 and has served as its Chairman since his retirement in 2013.
“Seth’s dedication to the community has always been an important and meaningful focus throughout his career,” said Haig Ariyan, future president of Alex. Brown. “He currently serves on the Board of Directors for the 9/11 Memorial and the Board of Trustees for Wake Forest University as well as having held the title of President of The Lawrenceville School Board of Trustees from 2010-2014. I look forward to welcoming Seth to Alex. Brown and Raymond James upon the closing of the transaction.”
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 6,700 financial advisors serving in excess of 2.8 million client accounts in more than 2,700 locations throughout the United States, Canada and overseas. Total client assets are approximately $514 billion. Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF. Additional information is available at www.raymondjames.com.