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Raymond James Financial to acquire consumer-focused i-bank Financo

Dec 18, 2020 - SNL Financial
Mergers and Acquisitions

Financial terms of the deal were not disclosed.

Raymond James Financial Inc. agreed to acquire consumer-focused boutique investment bank Financo LLC.

Financo's more than 25 employees will be integrated with Raymond James' consumer and retail practice. The combined consumer and retail practice will consist of a 50-person team led by Financo CEO John Berg. Mark Goodman, who leads Raymond James' current consumer and retail investment banking, will be vice chairman after the deal closes.

Financial terms of the deal were not disclosed. The transaction is expected to close in Raymond James' fiscal second q...