Raymond James strengthens private capital business and investment offerings, announces two appointments to further grow private markets platform

Reorganized Capital Markets team will deliver customized financing strategies for companies and owners, new Private Markets Strategy role will develop and lead offerings across Private Wealth

ST. PETERSBURG, Fla. – Raymond James is expanding its private market financing capabilities and has added two key leaders both to further develop Raymond James’ private capital raising expertise and to broaden bespoke private investment alternatives for ultra-high-net-worth investors.

Anand Subramanian joins Raymond James as head of Private Capital Markets, addressing the full range of corporate clients’ capital and liquidity needs. Subramanian joins a team of professionals experienced in capital markets who hold deep industry expertise across seven industries, and transaction expertise across all variances of debt, equity and hybrid structures. Under the leadership of Kent Nelson, senior managing director of Global Capital Markets, this group, through close collaboration, delivers tailored strategies for clients.

“The rapid convergence of public and private capital markets has presented a tremendous opportunity to apply our industry expertise to a broader array of companies and investors,” said Jim Bunn, president of Capital Markets & Advisory at Raymond James. “Adding Anand to our GCM team further enhances our ability to serve as a comprehensive financing advisor to middle market companies, whatever their needs. We are excited to have him join us.”

As part of the firm’s commitment to offer a broad scope of private capital strategies in its wealth division, Ken Novak is transitioning into the newly created role of Head of Private Markets Strategy for the Private Client Group. In this new role, Novak is responsible for originating, coordinating and managing the consolidated view of the firm’s myriad private market offerings. He will also serve as co-head of the Alternative Investments Group alongside Chris Butler.

“Ken will enable advisors to serve their private wealth clients by providing a comprehensive selection of direct and fund investment opportunities,” said Tash Elwyn, president, Private Client Group. “By deepening our commitments to the private markets space, we are growing the distinctive types of investments that are of increasing importance to advisors leveraging the capabilities of the firm’s Private Wealth program for the benefit of their clients.”

Looking ahead, the firm remains committed to broadening these capabilities to further meet the needs of advisors serving their most sophisticated and wealthy clients.

With over 25 years in the industry, Subramanian has strong experience in equity and debt financing, investment of growth and structured capital, product innovation and business development as well as deep sector expertise in fintech, commerce enablement, consumer, mobility and vertical SaaS. He previously launched and built private capital businesses at Morgan Stanley, Qatalyst Partners and Macquarie Capital, raising over $20 billion of capital while delivering distinctive financing strategies and advice to clients. Subramanian joins Raymond James after having been a founder, advisor, institutional investor and board member to multiple blue-chip late-stage venture, growth stage and later-stage private companies throughout his career.

Novak was most recently a managing director in the firm’s Private Institutional Clients Group and served as head of distribution for private markets and alternatives. In that role, he originated sophisticated investment opportunities across a full range of asset classes to help solve complex client needs. He has 30 years of financial services industry experience. Prior to joining Raymond James, Ken was responsible for business development and was a member of the investment committee at Ferry Farm Capital, a dedicated asset management firm that focused on private credit solutions. Before Ferry Farm, Novak was Head of RBC’s Institutional Middle Market division, a joint venture between the US Capital Markets division and Wealth Management platforms. He oversaw more than 60 salespeople and 1,000 client relationships. Novak has also led large institutional coverage groups at JP Morgan Chase and Morgan Stanley.

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.59 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.