05:09 PM EDT, 03/19/2024 (MT Newswires) -- Raymond James Financial ( RJF ) said Tuesday its board appointed Chief Financial Officer Paul Shoukry as president.

The company said it expects to name Shoukry as chief executive in fiscal 2025.

Current Chair and Chief Executive Paul Reilly will remain on the company's board as executive chairman following the transition, according to the company.

Shoukry will continue with his current responsibilities until he transitions to the CEO role, Raymond James added.

The company said Chief Operating Officer Jeff Dowdle will retire and Scott Curtis will succeed Dowdle on Oct. 1.