Raymond James Hires Four Jefferies Managing Directors to Bolster Consumer and LevFin Teams, Sources Say

Raymond James Financial has hired a group of several senior investment bankers from rival Jefferies, a move aimed at significantly expanding its consumer, retail, and leveraged finance practices, according to people familiar with the matter.

Strategic Hires

The hires reportedly include four managing directors from Jefferies. This group consists of:

• Drew Weisman from the leveraged finance team.
• Steve Tricarico, Russ Shoemaker, and Hub Orr from the consumer and retail investment banking team.

The addition of Weisman is expected to bolster Raymond James's leveraged finance capabilities, while the trio of consumer bankers will build out a key sector focus for the firm. Neither Raymond James nor Jefferies immediately responded to requests for comment on the matter, Reuters reported.

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Expanding a Core Focus

This talent acquisition builds on Raymond James's recent efforts to strengthen its advisory services in the consumer space. The St. Petersburg, Florida-based bank acquired consumer-focused boutique firm Financo in 2021, signaling a clear ambition to grow its market share in the sector.

Raymond James has advised on several notable consumer and retail deals in recent years. Its M&A team worked on the sale of baby care brand Coterie to Mammoth Brands and advised on the sales of hair care brand Not Your Mother’s to Henkel and men’s personal care brand Dr. Squatch to Unilever. The bank’s capital markets division also participated in initial public offerings for companies including Jersey Mike’s and Bob’s Discount Furniture this year.