St. Petersburg-based Raymond James Financial has acquired the U.S. private client services unit of Deutsche Bank Asset & Wealth Management. The acquisition allows Raymond James to both add high net worth clients and increase its services for current high net worth clients. Haig Ariyan, co-head of Deutsche’s Wealth Management Americas, will join Raymond James as president of the division and the unit’s approximately 400 employees will be offered positions. Raymond James Financial manages client accounts totaling more than $500 billion. Financial terms of the transaction, expected to close in the third quarter of 2016, were not disclosed.
