Raymond James Climbs Muni Manager Rankings After Hiring Spree
- It hired about a dozen people from Citigroup’s closed unit
- Company replaced Citi as bookrunner on Alabama county deal
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Raymond James Financial Inc. is scaling the rankings of municipal-bond underwriters after large banks withdrew from the business.
The St. Petersburg, Florida-based company has jumped to seventh place so far this year, its highest position in at least a decade. That’s while it was on a hiring spree, adding nearly 60 people to its public-finance division over three years.