Raymond James hires several senior investment bankers from Jefferies, sources say

• The hires include Drew Weisman from leveraged finance and Steve Tricarico, Russ Shoemaker, and Hub Orr from consumer and retail investment banking
• Raymond James has recently advised on major consumer deals including Coterie's $1 billion-plus sale to Mammoth Brands and worked on IPOs for Jersey Mike's and Bob's Discount Furniture
• The Florida-based bank acquired consumer-focused boutique Financo in 2021 and is now expanding its sector presence through strategic talent acquisition

Summary: Raymond James Expands Investment Banking Team with Senior Jefferies Hires

Raymond James Financial has recruited multiple managing directors from Jefferies' consumer and retail investment banking division, according to sources familiar with the matter. The new hires include Drew Weisman from the leveraged finance team, and Steve Tricarico, Russ Shoemaker, and Hub Orr from the consumer and retail investment banking group.

Strategic Expansion: The St. Petersburg, Florida-based firm is strengthening its consumer and retail capabilities following its 2021 acquisition of consumer-focused boutique Financo. Weisman's addition will specifically enhance Raymond James' leveraged finance practice, while the three consumer banking veterans will expand the retail team.

Recent Deal Activity: Raymond James has demonstrated growing presence in the consumer and retail sector, recently advising on several notable transactions:

• Baby care brand Coterie's $1 billion+ sale to Mammoth Brands
• Hair care brand Not Your Mother's sale to Henkel
• Men's personal care brand Dr. Squatch's sale to Unilever

The bank's capital markets team also participated in IPOs for Jersey Mike's and Bob's Discount Furniture in 2024.

Market Implications: This talent acquisition signals Raymond James' continued investment in building out its consumer and retail investment banking franchise, positioning itself to compete more aggressively in a sector experiencing significant M&A and capital markets activity. The move also represents ongoing competitive dynamics among middle-market investment banks vying for experienced bankers in specialized sectors.

Neither Raymond James nor Jefferies provided immediate comment on the departures and hires.