Can Raymond James Make up Ground on Bulge-Bracket Banks?
Raymond James, the mid-sized financial services conglomerate known mostly for its army of financial advisers, is looking to make a bigger mark in the investment banking business and yesterday’s acquisition of Lane Berry, a boutique investment bank with 21 employees, is a step in that direction. With the bulge-bracket banks under tremendous scrutiny from the government and weighed down by risky assets on their balance sheets, boutiques and regionals are in fashion and Raymond James is looking to capitalize on that trend.
