Raymond James Investment Management has hired a former New York Stock Exchange executive to help with the launch of an exchange-traded fund product platform in 2025, an effort meant to meet strong client demand, according to a Raymond James news release.
Mo Sparks, who was head of exchange-traded funds at NYSE, will assume a similar role at Raymond James, effective July 22, the release said.
“We are excited Mo will be leading our expansion into the ETF space—one more avenue that we can provide as part of our overall goal to give broader choice to select, high-demand investment strategies,” Bob Kendall, president of Raymond James Investment Management, said in a statement.
The company said the planned launch of its ETF platform “signifies the continuation of the firm’s dedication to providing diverse product offerings for wealth management, retail, and institutional clients.” The new platform, it noted, will enhance the firm’s offerings, which include a family of mutual funds, separately managed accounts, and institutional mandates. The firm intends to begin offering ETF solutions in 2025, the release said.
Sparks, who has nearly 15 years of ETF product, management, strategy, and distribution experience, led the NYSE’s “new business development activities for ETFs, strategic initiatives and partnerships related to promoting ETF industry growth, while managing ETF issuer relationships,” the release said.
He also held leadership roles at the Vanguard Group where he oversaw the company’s global ETF and mutual fund lineup.
“ETFs are a technology that allows investors unparalleled access and control over today’s investment landscape,” Sparks said. “I am eager to build this platform at such a respected organization in support of evolving investor needs—and excited to pair the capabilities of RJIM and its boutique investment managers with the access and tax efficiency that the ETF wrapper provides.”
Matt Johnson, head of product management and marketing for Raymond James Investment Management, said, “Mo’s passion for putting clients first and bringing strong products to market aligns with our culture and goals for this platform. His strategic business mindset and thoughtful nature are the types of qualities we entrust to embody our firmwide values, while building out the ETF product suite within the firm.”