Raymond James Goes Shopping for Jefferies Talent With Four Senior Hires
Synopsis
Raymond James investment banking hired four Jefferies managing directors as revenue reached $778 million through nine months. The U.S. remained its largest market, ahead of Canada and Europe.
Raymond James has hired four managers from Jefferies, including senior leaders from around the business of consumer and retail investment banking as well as leveraged finance, as the deal business continues to boom in 2026.
The new additions will be Drew Weisman, Steve Tricarico, Russ Shoemaker and Hub Orr. Weisman comes from Jefferies' leveraged finance team, while Tricarico, Shoemaker and Orr are from the consumer and retail investment banking team.
Four bankers join key teams at Raymond James
The additions come as Raymond James has been enhancing its consumer and retail business, which it bolstered in 2021 when it acquired consumer-focused boutique investment bank Financo.
Raymond James is a consultant on a number of consumer and retail deals, including Coterie's overwhelming $1 billion sale to Mammoth Brands and Not Your Mother's sale to Henkel as well as Dr. Squatch's sale to Unilever. It also participated in the initial public offerings for Jersey Mike's and Bob's Discount Furniture this year in its capital markets division.
Jefferies and Raymond James weren't immediately available for comment on reported hires.
Investment banking revenue rises
For the quarter that ended on June 30, 2026, investment banking revenue was up 40% to $285 million, according to Raymond James. The investment banking revenue in fiscal 2026 is $778 million, while it is $753 million in fiscal 2025.
Net revenue for the quarter, reported at $3.93 billion, was 16% higher than it was a year ago, and net income available to common shareholders rose to $595 million. Net revenue rose by 11% to $11.52 billion during the 9 months that ended in September.
Capital Markets (including investment banking) reported $477 million in quarterly net revenue, a 25% increase. The increase was due to higher merger and acquisition advisory revenue and higher debt and equity underwriting revenue, the company said.
The overall market has seen a rise in fee income, as well. Dealogic data shows that global investment banking (IB) revenue has risen to $61.4 billion in the first half of 2026, representing a 24% increase from a year before.
The company operates in the United States, as well as Europe and Canada, where it is based. The latest results are the most up-to-date full financial disclosure available from the company, as they extend through June 30, 2026.
Source: Reuters
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
