Raymond James Financial has announced several senior management changes, including the imminent departure of Dick Averitt, long-time CEO and chairman of Raymond James Financial Services Inc., Raymond James CEO Paul Reilly announced on Monday.
Averitt, 66, who will be stepping down as the unit's CEO in the coming year, has led St. Petersburg, Fla.-based Raymond James Financial Services since 2002. Averitt joined the firm in 1978 as a financial planner and registered representative, where he became a leading advisor before joining the management team in 1984.
Averitt will be replaced next year by Scott Curtis, who was recently appointed president of Raymond James Financial Services and managing director of its Independent Contractor Division. For the past six years, Curtis, 49, has been serving as senior vice president of the Raymond James & Associates PCG. Prior to his current role, he supported both domestic PCG businesses as president of the firm's insurance group, Planning Corporation of America (now Raymond James Insurance Group).
Curtis joined Raymond James nine years ago from GE Financial, where he served as senior vice president, leading several key business units during his 13 years with the organization. He will report to Dick Averitt during his transition.
Raymond James has also named current Raymond James & Associates president Dennis Zank as parent company chief operating officer.
Zank, 57, has served as president of Raymond James & Associates' PCG unit for nine years. Prior to being appointed to his current position, he was executive vice president of operations and administration, overseeing the firm's securities and customer operations, client services, information technology, office services, human resources, financial and regulatory reporting and international operations.
Zank joined Raymond James' accounting department in 1978, becoming controller in 1982. He was promoted to senior vice president in 1986 and executive vice president in 1992.
Chet Helck, 59, will continue to oversee the firm's Global Private Client Group, including responsibility for Raymond James & Associates and Raymond James Financial Services as well as the company's PCG business.
The company has also appointed Tash Elwyn as president of Raymond James & Associates' private client group, succeeding Zank.
The appointments are effective January 3.
Elwyn, 40, joined Raymond James in 1993 as a financial advisor trainee. After building a successful practice, he became a branch manager and was promoted to divisional sales manager. For the past five years, he has served as the Atlantic divisional director. Elwyn will report to Helck.
Raymond James Financial's three principal wholly owned broker-dealers Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. have approximately 5,400 financial advisors serving 2 million accounts in 2,400 locations throughout the United States, Canada and overseas. Total client assets are approximately $271 billion, of which approximately $34.8 billion are managed by the firm's asset management subsidiaries.