- October 5, 2024
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ST. PETERSBURG — Raymond James Financial Inc. is set to add another $1 billion in assets under management, after reaching a deal to acquire Cougar Global Investments Ltd. of Toronto.
Terms of the deal were not disclosed.
Founded in 1993, Cougar Global is an exchange-traded fund strategist that markets its investment services to high-net worth individuals, families, foundations, trusts and institutions in both the United States and Canada, according to a release.
Once approved by Canadian regulators, Raymond James says it will add Cougar Global to its existing Eagle Asset Management, which has more than $30 billion in assets under advisement. Cougar Global will become a subsidiary of Raymond James, and a “sub-advisor” to Eagle.
Shares for Raymond James — which trade on the New York Stock Exchange under the symbol RJF — closed Monday at $58.16, up nearly 2% from the Friday before. The diversified financial services holding company reported a profit of $126.3 million, or 89 cents per share, on revenue of $1.3 billion in the quarter ended Dec. 31. That compared to the $116.6 million, or 83 cents per share, profit reported the year before on revenue of $1.2 billion.