Raymond James' Employee Channel Expands Reorg

Raymond James is undertaking a new series of senior leadership changes amid a broader regional reorganization within its employee advisor channel, known as Raymond James & Associates (or RJA).

Tom Walrond, who is now a divisional director, will become president of the unit on Oct. 1, when RJA President and CEO Tash Elwyn becomes president of the firm’s Private Client Group.

The PCG includes RJA and its 3,812 employee advisors, as well as Raymond James Financial Services and its 4,970 independent advisors. These advisors collectively work with $1.42 trillion in assets under advisement.

Raymond James’ latest organization changes come about five months after Chief Executive Officer and Chair Paul Riley said he planned to retire from the CEO slot; Paul Shoukry, then serving as CFO, was appointed president and is expected to become the firm’s next CEO before Sept. 30, 2025. Riley will then become the firm’s executive chair.

Central Division Director Patrick O’Connor will be promoted to RJA chief operating officer on Oct. 1 — a role in which he will focus on recruiting, organic growth and enhancing the advisor experience, the firm said Friday.

Central Division Regional Director Mike O’Meara will succeed O’Connor as Central Division director, while current Eastern Division Regional Director Kelly Anderson will lead the Northeast Division as division director. Anderson will maintain her current area of responsibility in addition to the expanded area of oversight, according to the announcement.