Raymond James to Buy Morgan Keegan

 

Raymond James Clients:

As you may have heard, Raymond James plans to combine its business with Morgan Keegan & Company, Inc., a well-respected regional competitor with a strong private client business, one of the industry’s top fixed income groups, and a significant equity capital markets division. Headquartered in Memphis with 57 full-service offices in 20 states, the company has 3,100 employees and more than 1,200 total financial advisors.

While additions of this size are a departure from our focus on organic growth supplemented by individual hires and small acquisitions, it is not a departure from our overall strategy. Throughout our history, Raymond James has used strategic mergers to grow, but only when the timing and pricing are right and, most importantly, when there is a strong cultural fit that we believe will benefit clients.

The opportunity to expand with Morgan Keegan’s complementary businesses and similar values system was unique and we are excited to welcome these new members to the Raymond James family.

While there are many details yet to be determined, our first priority will be to maintain the strong client-service reputation that has differentiated Raymond James for the past 50 years – a focus that is a key element of Morgan Keegan’s history as well. I am confident the combination of our firms will provide greater economies of scale, giving us even better ability to support you.

As we move into the future, we are committed to being the premier alternative to Wall Street, providing resources on par with our largest competitors within an environment where client service and conservative management principles are at the forefront.

We look forward to being an even stronger firm and continuing to provide the kind of service you’ve come to expect from Raymond James.

Sincerely –

Paul C. Reilly
CEO, Raymond James Financial

Thomas A. James
Executive Chairman, Raymond James Financial

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