Raymond James acquires New Jersey-based firm
March 29, 2022 -
St. Petersburg-based Raymond James Financial announced it is acquiring SumRidge Partners LLC, a New Jersey-based, tech-driven fixed income market maker. SumRidge, specializing in investment-grade and high-yield corporate bonds, municipal bonds and institutional preferred securities, will join Raymond James’ Fixed Income Capital Markets division. “SumRidge is an exciting combination of a strong team and advanced technology that will only enhance Raymond James’ position in a rapidly evolving fixed income and trading technology marketplace,” Horace Carter, Raymond James’ executive vice president and president of fixed income, said in a statement. The monetary amount of the acquisition was not disclosed. The SumRidge organization has about 45 employees.