Raymond James reported record revenue and assets under management while profits were tight as the firm began to streamline its unified operations following the Morgan Keegan integration.
After moving all legacy Morgan Keegan accounts over to the Raymond James platform in February, the firm was able to reach a record revenue of $1.14 billion, up 3% from last quarter and 31% from a year earlier. Net income was $80 million, down 8% from the previous quarter and up 8% from the year-ago quarter as expenses related to the acquisition cut into profit margins.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access