Raymond James to Build ETF Platform; Taps Vanguard Vet to Lead

News July 22, 2024 at 01:37 PM

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Raymond James' investment management subsidiary has named Vanguard Group and New York Stock Exchange veteran Mo Sparks to oversee buildout of a new ETF platform that the firm plans to launch in 2025.

Sparks became Raymond James Investment Management head of ETFs, a newly created role, effective Monday.

He served as NYSE director of exchange-traded products for nearly the past five years and, for more than seven years before that, in several product management and strategy leadership roles involving Vanguard's ETFs and mutual funds.

"We are excited Mo will be leading our expansion into the ETF space — one more avenue that we can provide as part of our overall goal to give broader choice to select, high-demand investment strategies," Raymond James Investment Management President Bob Kendall said.

Raymond James Investment Management said its plans to start offering ETF products next year align with its goal to offer diverse products to its wealth management, retail and institutional clients. The launch will add to RJIM's current offerings, including a mutual fund family, separately managed accounts and institutional mandates.

"ETFs are a technology that allows investors unparalleled access and control over today's investment landscape," Sparks said. "I am eager to build this platform at such a respected organization in support of evolving investor needs — and excited to pair the capabilities of RJIM and its boutique investment managers with the access and tax efficiency that the ETF wrapper provides."

Pictured: Mo Sparks

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