Mark is responsible for all compliance, legal and regulatory matters at Raymond James. His department supervises all Raymond James branches, in addition to providing dedicated assistance on day-to-day issues while helping them navigate and realise new projects and ventures
He has a Bachelor of Laws degree from the Open University as well as holding the Investment Management Certificate. Mark is a member of the PIMFA Regulatory Committee, a recent panel member of the CISI Combatting Financial Crime examination and member of various wealth management compliance forums.
Mark’s career in financial services began in 1983 when he worked for a retail bank before moving on to a financial wealth manager role. The advent of financial services regulation saw him take up various training roles at Norwich Union, Old Mutual and other insurers.
In 1998 Mark decided to put theory into practice and became an IFA with a regional broker, working on SME pension plans, employee benefits, executive protection and company succession planning. After two years he joined the national IFA Inter-Alliance and became Head of Training in 2000. After overseeing the integration of over 400 new wealth managers from the Lincoln sales force and designing a new Training & Competency scheme ready for the start of FSA (now the FCA) regulation in 2001, Mark was made an associate director. With the company having grown to over 100 branches and almost 1,000 wealth managers he was formally made the Group Compliance Officer in 2002.
In late 2003 Mark joined Mortgage Intelligence as Head of Compliance to prepare the company for FSA regulation, create a new appointed representative network and manage training and T&C. In 2006 he moved to GE Money Home Lending as T&C Leader, before joining Raymond James in July 2009.
Mark is married with two children. He is an avid book reader, particularly sci-fi and historical fiction, as well as having a healthy interest in watches and cars!
Head of UK Country Management Office and Head of RJIS Dealing, Partnerships & Supplier Risk Management
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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