Raymond James expands in Canada
April 28, 2020 - Raymond James Ltd., the Canadian arm of North American investment dealer Raymond James Financial, has completed the acquisition of Oak Trust Company, a privately held, federally regulated trust company based in London, Ontario. Following regulatory approval, the new division will be named Raymond James Trust (Canada), a news release said. With this acquisition, Raymond James becomes the first non-bank owned full service investment dealer in Canada to offer integrated fiduciary trust services, according to the news release. The acquisition gives Raymond James advisors and portfolio managers new trust services tools which will complement their core wealth management services, said Paul Allison, chairman and CEO of Raymond James Ltd. Financial terms were not disclosed. Raymond James Financial (NYSE: RJF) is a financial services company headquartered in St. Petersburg and one of the largest companies based in the Tampa-St. Petersburg area.