News > Wealth Management

Raymond James buys Deutsche unit

By NexChange
Wealth Management


After months of speculation, Raymond James has agreed to buy the U.S. Private Client Services arm of Deutsche Asset & Wealth Management.

The Florida-based Raymond James has been expanding nationally, and the deal will add 200 advisors to its staff, reports the Tampa Bay Business Journal. The Deutsche team specializes in high-net-worth clients and some institutional investors, mainly in large metropolitan areas. They will operate under the brand Alex. Brown, and will be led by Haig Ariyan, from Deutsche.

About 400 support staff will also be offered positions at Raymond James.

Photo: Mark Moz

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