Raymond James Morgan Keegan Company Overview and Background

Raymond James Morgan Keegan is a subsidiary of Raymond James Financial, a leading financial services company. It was formed in 1987 through the acquisition of Morgan Keegan by Raymond James Financial.

The company has a long history of providing financial services to individuals, corporations, and institutions. Morgan Keegan was founded in 1968 by Robert Kirby and Thomas Morgan.

Today, Raymond James Morgan Keegan offers a range of financial products and services, including brokerage services, investment management, and retirement planning.

Raymond James Financial Inc. has a history of using strategic mergers to grow its business, and the acquisition of Morgan Keegan is a prime example of this.

The company's CEO, Paul C. Reilly, has stated that they prefer organic growth, but will use mergers when the timing and pricing are right and there is a strong cultural fit.

Raymond James officials are committed to maintaining a large presence in Memphis, where Morgan Keegan is based.

The combined businesses of Raymond James and Morgan Keegan will create one of the country's largest full-service wealth management and investment banking firms not headquartered on Wall Street.

Morgan Keegan's CEO, John Carson, will join Raymond James as president and oversee the firm's fixed income and public finance operations.

Raymond James will acquire a well-regarded brokerage firm and investment banking business that will bolster its own operations.

The acquisition is expected to close by the end of the first quarter, pending regulatory approval.

Raymond James plans to make retention offers to many of Morgan Keegan's financial advisers to prevent defection after the deal.

The acquisition will not strain Raymond James's financial resources, although the company plans to sell stock and raise debt to help pay for the acquisition.

Regions Financial Corporation, the owner of Morgan Keegan, will receive a $930 million payment and an additional $250 million dividend from Morgan Keegan before the deal closes.

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Raymond James Financial plans to drop Morgan Keegan from the name of its fixed-income arm later this month. The name change will occur after the two-year commitment to dual branding ends.

The integration of Morgan Keegan into Raymond James has gone smoothly, with Raymond James CEO Paul Reilly praising the cultural integration between the two firms. Reilly said the request to drop the Morgan Keegan name shows that the two firms are satisfied with the merger.

Raymond James acquired Morgan Keegan for $930 million in a definitive stock purchase agreement. The combined businesses of Raymond James and Morgan Keegan will create one of the country's largest full-service wealth management and investment banking firms not headquartered on Wall Street.

The acquisition will add more than 1,000 private client financial advisors to Raymond James' advisor count, increasing it to over 6,000. Morgan Keegan CEO John Carson will join Raymond James as president and oversee the firm's fixed income and public finance operations.

Here are some key facts about the acquisition:

Raymond James Financial Inc. is a company that has made a significant move by acquiring Morgan Keegan for $930 million. They're a Florida-based firm with a long history of growth, often using strategic mergers to expand their business.

Their CEO, Paul C. Reilly, believes in maintaining a strong cultural fit and clear path for integration when merging with other companies. This approach has helped them become a leading alternative to Wall Street.

Raymond James is committed to keeping a large presence in Memphis, where they've had offices for years. They even plan to center their fixed income and public finance businesses there, as well as operate a regional support center.

Raymond James was founded in 1962 by Robert A. James and Thomas K. James in St. Petersburg, Florida. The company started with a small office and a handful of employees.

In its early years, Raymond James focused on providing investment services to individuals and families. The company's founders had a vision of creating a firm that would put clients' needs first.

By 1970, Raymond James had grown to 15 offices across the United States. The company continued to expand its reach and services in the years that followed.

Raymond James went public in 1983, listing on the New York Stock Exchange (NYSE) under the ticker symbol RJF. This move helped the company raise capital and further expand its operations.

Today, Raymond James is one of the largest financial services companies in the United States, with over 8,000 financial advisors and more than $800 billion in client assets.

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At Raymond James, strong leadership has been a key factor in the company's success. The firm's day-to-day operations were run by Allen Morgan, as chairman and CEO, from 1969 until 2003.

Morgan remained chairman until his retirement on December 31, 2007. Bill Deupree was president from 1985 until 1996; after a brief stint by Stephen P. Laffey, G. Douglas "Doug" Edwards became president title.

Here's a brief overview of the leadership team that helped shape the company: