Raymond James said it has appointed Bert White to head its Western Division and that it will streamline leadership of its Alex. Brown division as part of a regional reorganization of Raymond James & Associates (RJA), the firm’s employee advisor channel.
White will replace Pat Allison, who will retire at the end of the year, the release said. Allison, who began his career with E.F. Hutton & Company in 1979, has been with Raymond James since 1994, according to BrokerCheck.
White, formerly with Morgan Stanley, came to Raymond James in 2017 as a managing director, complex manager in South Florida. He was elevated in 2019 to complex regional director for the Florida Region, according to his LinkedIn profile.
Replacing White will be Tim Killgoar, who has been with the firm since 2008 and serves as senior vice president and head of the Financial Institutions Division (FID) within Raymond James Financial Services. Steve Kruchten will succeed Killgoar as head of FID from his former position as FID senior vice president, national relationship management.
Tash Elwyn, RJA president and CEO, said the reorganization, effective October 1, will realign leadership across RJA and Alex. Brown for a more unified approach to supporting current and future advisors.
“Providing advisors and their clients with a strong leadership team focused on furthering the combined efforts of Raymond James & Associates and Alex. Brown is a key component of our growth strategy. Doing so will help identify efficiencies, bolster continued growth, optimize advisor support, and add support for expanding strategic markets,” Elwyn said in a statement.
Additionally, Elwyn said RJA will hire a regional director to support and develop the California market. “This reflects its continued investment in the western U.S. to support both the growing number of existing advisors as well as plans for enhanced advisor recruitment,” he said.
Last June, Alex. Brown underwent several key leadership changes after its president and head of global wealth solutions, Haig Ariyan, left the company to become CEO of Arax Investment Partners, a RedBird Capital portfolio company. Elwyn took on added responsibilities, which included overseeing global wealth solutions COO Michael Tormey, along with John Sutton and Brett Kellam, both Alex. Brown managing directors.