Raymond James Financial Inc. (NYSE: RJF) has entered into a definitive agreement to purchase Silver Lane Advisors LLC, a boutique investment bank that focuses on mergers and acquisitions in the financial services sector. The transaction is expected to close by April.
Following the transaction, Silver Lane’s professionals will form the asset and wealth management group within the financial services investment banking practice, which will comprise nearly 50 investment bankers covering banks and thrifts, asset and wealth managers, insurance companies, specialty finance companies, and business development companies.
The asset and wealth management team will also partner with Raymond James’ fintech practice and investment banking teams focused on providing support for mergers and acquisitions, public offerings, and private placements and restructurings of equity and debt.
“Silver Lane is a strong cultural and strategic fit, which will grow our presence in a sector we’ve been focused on expanding for some time,’ said Raymond James Financial chairman and CEO Paul Reilly. ‘Their commitment to client service and giving back to the community mirrors values which are core to Raymond James and illustrates what we look for in an acquisition.’
Since 2015, Raymond James Investment Banking has participated in raising nearly $140 billion in capital for its corporate clients and completed more than 450 advisory assignments, including more than 390 M&A buy-side or sell-side advisory assignments.
Raymond James Financial provides private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 7,800 financial advisors that oversee $764 billion in client assets.