As Chief Financial Officer, Naz is responsible for the regulatory and statutory reporting and financial management affairs of Raymond James.
Naz holds a bachelor’s degree in accountancy and taxation and a master’s degree in leadership from City, University of London. He is a qualified Accountant and a Fellow of the Association of Chartered Certified Accountants (FCCA). He is also a Fellow of the Chartered Management Institute (FCMA). Naz has completed various INSEAD and London Business School Executive Education Programmes to complement his more than 25 years’ experience in the financial services industry.
Naz started his career with NatWest Bank as a management accountant in April 1998. His responsibilities included transfer pricing and the recovery of costs for technology services exceeding £300m annually. In November 1999 Naz moved to City Group. As the Group Accountant he was responsible for overseeing the preparation of management reports and statutory accounts in accordance with International Accounting Standards as well as ensuring compliance with the requirements of the various stock exchanges for a number of holding and subsidiary companies.
Naz joined Raymond James in August of 2003 as Finance and Audit Manager. Shortly thereafter he was promoted to the role of Chief Financial Officer and Company Secretary. Naz also chairs the Raymond James Credit Risk Committee.
Naz is married with three children, is a keen cyclist and enjoys taking part in various community and charitable activities.
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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