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Deals Of The Day: The Latest In Wealth Management M&A – Raymond James, SumRidge
Editorial Staff
6 July 2022
Raymond James, SumRidge Piper Sandler served as exclusive financial advisor and Gunderson Dettmer was legal counsel to SumRidge Partners. The financial terms were not disclosed.
has completed its previously-announced purchase of SumRidge Partners, a business founded in 2010.
Based in Jersey City, New Jersey, SumRidge Partners operates within the firm’s fixed income capital markets business and is led by SumRidge’s co-founders, Tom O’Brien and Kevin Morano.
SumRidge Partners’ institutional market-making operation sits alongside and complements Raymond James’ core client-facing business.
The acquisition adds market-making operations and trading technology to Raymond James’ fixed income capital markets division, the New York-listed firm’s chief executive and chairman Paul Reilly, said.
Raymond James has total client assets of $1.19 trillion.