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Raymond James Financial's board says Paul Shoukry, its CFO, has been named president as part of its "multiyear succession planning process, effective immediately."
It is expected that Shoukry will become the St. Pete-based financial services giant's CEO during fiscal 2025, following a transition period, the board says. He will replace current CEO Paul Reilly, who will remain on the board as executive chairman. Shoukry will retain his current responsibilities until he transitions to the CEO role, the release states.
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