Raymond James hurricane recovery update
ST. PETERSBURG, Fla. – Raymond James’ corporate headquarters in St. Petersburg, Florida opened today and expects to complete the transition from its business continuity protocol to normal operations by Monday.
“I’m happy to say that our planning and exercises anticipating a variety of crisis situations paid off during Hurricanes Harvey and Irma,” said Chairman and CEO Paul Reilly. “We smoothly transitioned to our business continuity protocol and experienced no operational support issues during the evacuations and relocation of associates. And most importantly, we’ve heard of no injuries among our associates from the storms.
“I’m incredibly proud of the dedication and performance of our associates during this emergency. We’ve received dozens of communications from our advisors across the country, their clients and our institutional partners expressing their satisfaction and gratitude. Now we’re focused on helping those who have been impacted by these storms.”
The firm has the following efforts underway to support associates and their communities as part of the recovery process:
- Raymond James will donate $500,000 to recovery efforts to the areas most impacted by Hurricane Irma. The firm previously donated $100,000 to the American Red Cross to support Hurricane Harvey relief efforts.
- Paul and Rose Reilly and family, pledged to match up to $100,000 of donations from associates to Friends of Raymond James, a nonprofit organization established in 2000 to provide assistance to Raymond James associates who experience unforeseen hardships or personal tragedy. In response, the Executive Committee pledged to match another $135,000, for a total of $235,000, and is encouraging Raymond James associates to join them in supporting their co-workers in need. Financial support will be provided on a case-by-case basis.
- To help with the cost of evacuation, travel and other storm-related expenses, the firm is providing a monetary hurricane relief award to non-management/senior advisor branch professionals and non-executive level corporate associates located in areas most impacted by Harvey and Irma (Texas, Florida and the Southeast). The total award payout will be more than $1 million.
- All associates are being paid their regular compensation regardless of work availability during the storms.
- For associates in Florida who are without power or have been impacted by flooding, the firm has opened the conference center at its corporate headquarters as a temporary shelter for associates and their families in need of temporary housing.
- Our Memphis associates are shipping supplies to St. Petersburg to help those without power and access to water, coolers, batteries, diapers and more.
- The firm is exploring other ways to support associates and clients in need, and will communicate more information to associates as programs are confirmed.
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 7,300 financial advisors in 3,000 locations throughout the United States, Canada and overseas. Total client assets are $677 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.