A new Raymond James branch is opening in the City of London, which will be run by Robert Skepper and William Bancroft. The pair have worked together for a number of years at Charles Stanley.
The branch will share premises with another existing Raymond James branch on Royal Exchange Avenue, and will provide full bespoke investment management services for clients across the UK, with a focus on worldwide equities, bonds and investment funds.
Robert Skepper has over 30 years’ experience in managing money. After a spell in Industry and Agriculture, in 1986 he joined as an associate for Brewin Dolphin, where he stayed for 25 years. For the past six years he has been a senior investment manager at Charles Stanley, before making the move over to Raymond James.
William Bancroft has worked with Robert Skepper for over 10 years following a short service commission in the Army.
On setting up with Raymond James, Robert Skepper said:
“I have ambitious goals, and my target is to double the assets under management over the next five years. The team’s experience and knowledge, along with the support of Raymond James, gives me the confidence this can be achieved.
“I was attracted to Raymond James because of its high quality reputation in the private client investment management space and the flexibility and independence it provides to its branches. This means I can concentrate fully on providing the best possible service to my clients.”
On the new venture, William Bancroft added:
“Being responsive to our clients’ needs is a big part of what we do. Without doubt, relationships are a key part of our profession and a large proportion of clients really value a bespoke service and personal interactions with their investment team. With Raymond James’ support, this is exactly what we can offer.”
Anthony Scott, Head of Business Development at Raymond James commented:
“We are delighted to have Robert, William and the team on board at Raymond James. We continue to expand our branch network, and Robert and William are exactly the kind of accomplished wealth managers we want to work with. I am tremendously excited to see what this branch will bring in the years ahead.”
Black MondayOn 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. |
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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. |
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Bear Market of 1974The 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. |
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Taking Raymond James PublicWhen consideration was being given to taking Raymond James public, Tom James penned a letter to shareholders (largely employees at the time). ” … 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. |
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