Alasdair Pike joins Raymond James, Royal Exchange

Alasdair Pike is joining Raymond James as a Senior Investment Manager to work alongside co-branch principals David Stevens and David Roblin at their Raymond James, Royal Exchange branch in London.

With 27 years’ experience in the investment management sector, Alasdair’s expertise spans a variety of investment offerings, including direct equity and funded accounts as well as the passive market and ETFs. He will be using his breadth of knowledge and experience to provide discretionary and advisory portfolio management services to clients based across the UK.

Alasdair spent the first 11 years of his career at Cazenove & Co before joining JM Finn in 2005, where he managed private clients, pensions, charities, and trusts. As well as being a co-founder of JM Finn’s Managed Portfolio Service for independent financial advisors, Alasdair has ranked in Citywire Wealth Manager’s Top 100 fund pickers for the last three years.

Raymond James, Royal Exchange is located in the heart of London and offers highly personalised investment management services for private clients across the UK.

On joining Raymond James, Alasdair said, “I am relishing the prospect of working closely with the Davids under the banner of Raymond James. I was drawn to the role as Raymond James is one of few remaining investment management firms that offers both discretionary and advisory portfolio management services, as well as giving wealth managers the freedom to make their own investment decisions. I believe that joining Raymond James will provide me with the perfect opportunity to focus on providing a truly bespoke client service.”

David Roblin comments, “Since launching the branch in January 2019, I have been proud to see it grow from strength to strength. David and I are delighted to welcome Alasdair and his expertise to the team, marking yet another key milestone in our business’ journey.”

David Stevens adds, “The past eighteen months have been challenging for everyone, but we have continued to put all our efforts into focusing on our clients and their portfolios. With our shared ethos and client-centric approach, Alasdair is a valuable addition to the team, and we look forward to working together.”

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Black Monday

On 19 October 1987, the stock markets experienced a dramatic plunge that prompted many firms to shut down their trading desks and turn off their phones to minimize internal losses. Raymond James refused to do the same. Our desks stayed open to help meet clients’ needs, resulting in our first and only unprofitable quarter since the firm went public in 1983.

Who was Raymond James?

The Raymond in our name is actually from Edward Raymond, owner of a 15-employee mutual fund sales group, Raymond and Associates, along Florida’s west coast. He sold his company to Bob James on 15 July 1964, on condition that the surviving firm be called Raymond, James & Associates.

Three days after the sale, Ed Raymond was involved in a near-fatal automobile accident and never joined the firm.

Nonetheless, even after Raymond had passed away, Bob James insisted that his name remain on the door – ahead of James’ own. That was a promise he made to Ed Raymond three days before the accident, and Bob James was a man who kept his promises.

Bear Market of 1974

The severe bear market of 1974 threatened the existence of Raymond James, which was bleeding capital by the day. Tom James, his father and other leaders took extreme measures to keep the firm afloat, slashing costs, foregoing paychecks and even attempting to sell the firm for just enough capital to protect client assets and retain as many associates as possible. The story could have ended very differently if not for a sharp upturn and continued rebound in the stock markets late in the year.
This “fortunate near-death experience” (as Tom calls it) permanently marked his psyche, and has influenced our firm’s character and culture since, solidifying the conservative nature that emphasizes a determined focus on the long term – both for clients and the firm.

Taking Raymond James Public

When consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time).
He wrote:

” … the public offering should be considered as a statement of our independence. While this is a psychological rather than an economic rationale, it is nonetheless very important. We have asserted for some time that we are not interested in becoming a small part of a very large corporation. That assertion results mainly from the inclinations of management rather than the economic benefits associated with either alternative. The public stock offering affords us the opportunity to enjoy a little bit of the best of both worlds. While shareholders will be given liquidity at fair market value, we will still have the ability to control our own destiny.”

After 40+ years of Tom’s leadership, upon becoming CEO, Paul Reilly was often questioned about whether the company might ultimately surrender its cherished independence and be acquired by some larger entity. His response: “Not while I’m around.” It’s a theme that continues today.