Raymond James Expanded Investment Banking With New Hires
The firm added four managing directors to bolster its consumer, retail, and leveraged finance practices.
Updated on Sept. 21, 2026 in Business Strategy
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Raymond James has recruited a team of managing directors from Jefferies to strengthen its presence in consumer, retail, and leveraged finance banking. This hiring shift aims to expand the firm's advisory capabilities following a series of high-profile deal mandates.
Why it matters
The additions follow a growth strategy centered on consumer sector expertise, underscored by the firm's previous acquisition of Financo and recent sell-side advisory work for brands like Dr. Squatch and Not Your Mother's.
Raymond James hired four managing directors from Jefferies to join its existing consumer, retail, and leveraged finance teams. The firm previously advised on the $1 billion-plus sale of Coterie to Mammoth Brands.
The players
Raymond James
A financial services firm headquartered in St. Petersburg, Florida, that provides diversified investment banking and capital markets advisory services.
Jefferies
A global investment banking firm that provides research, advisory, and execution services across consumer and retail markets.
The details
Raymond James recruited Steve Tricarico, Russ Shoemaker, and Hub Orr to join its consumer and retail banking unit, while Drew Weisman joined the firm's leveraged finance practice. These additions integrate technical expertise into the firm’s existing advisory infrastructure, which has grown significantly since the 2021 acquisition of boutique bank Financo. The hires are expected to support the firm's upcoming deal pipeline as it seeks to scale its investment banking operations.
Timeline
Raymond James acquired the boutique bank Financo in 2021.
The firm hired the managing directors from Jefferies on September 21, 2026.
Market Landscape
This move continues the expansion of the firm's investment banking reach, following the pattern established by the 2021 acquisition of Financo. It signals an effort to capture more market share in consumer-focused advisory after managing high-profile sales for brands including Dr. Squatch.
Operators in the consumer and retail space should note that the firm is deepening its technical capabilities for M&A and leveraged finance. Businesses evaluating mid-market investment banking partners should reexamine the firm's current industry focus and recent deal track record.
The takeaway
Raymond James is signaling a commitment to deep-sector expertise by poaching veteran talent from established competitors. Firms should track whether this expansion increases the volume of mid-market consumer deals during the 2026 advisory cycle.
Further reading
For more on shifts in sector advisory and firm growth, see our coverage of Business Strategy.
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