Raymond James Financial Inc has agreed to buy Silver Lane Advisors, an investment bank focused on M&A in the financial services sector. No financial terms were disclosed. The deal is expected to close by April.
ST. PETERSBURG, Fla. – Raymond James Financial, Inc. (NYSE: RJF) announced today that it has entered into a definitive purchase agreement to acquire Silver Lane Advisors LLC, a boutique investment bank focused on M&A in the financial services sector. The transaction is expected to close by April, subject to customary conditions and approvals.
Founded in 2007, Silver Lane has strong expertise in the asset and wealth management sectors, in addition to private banking, trust and fintech, making it a natural complement to Raymond James’ existing Financial Services Investment Banking practice.
“Consistent with our long-term view of consolidation across the financial services space, we see particular opportunity in the asset management and wealth management categories, which is where Silver Lane excels with unparalleled expertise,” said Jim Bunn, President of Raymond James Global Equities & Investment Banking. “Integrating their deeply experienced professionals into our existing Financial Services practice further positions us to capitalize on the growing demand for asset and wealth management expertise, while offering clients a broader range of capabilities.”
Silver Lane’s professionals will form and represent the Asset & 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 BDCs following the transaction. The Asset & Wealth Management team will also partner with and draw upon the expertise of Raymond James’ industry-leading FinTech practice and dedicated investment banking teams focused on providing support for mergers & acquisitions, public offerings, and private placements and restructurings of equity and debt.
“We look forward to bringing the enhanced resources and global scale of Raymond James to Silver Lane’s preeminent client base,” said Liz Nesvold, Managing Partner and Founder of Silver Lane. “Raymond James shares our culture and commitment to client-first values, ensuring a smooth transition for our team and our clients.”
“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.”
The acquisition of Silver Lane Advisors continues the growth of the firm’s Financial Services practice, which provides strategic advisory and equity and debt capital formation capabilities to its institutional clients. Over the past several years, Raymond James has hired multiple senior professionals to support this growing practice and added new capabilities.
About Raymond James Investment Banking
Raymond James Investment Banking offers highly regarded capital formation and financial advisory services. Since 2015, we have participated in raising nearly $140 billion in capital for our corporate clients and completed more than 450 advisory assignments, including more than 390 M&A buy-side or sell-side advisory assignments.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 7,800 financial advisors throughout the United States, Canada and overseas. Total client assets are $764 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.