Press Release

January 23, 2012

RAYMOND JAMES ANNOUNCES RETIREMENT
OF ASSET MANAGEMENT HEAD RICHARD K. RIESS

ST. PETERSBURG, Fla. - Raymond James CEO Paul Reilly announced today that Richard K. Riess, executive vice president of the company's Asset Management Group, CEO of Eagle Asset Management and chairman of the board of  trustees of the Eagle Family of Funds, will retire at the end of this year. Effective January 31, 2012, Riess will transition from his current role to work with Reilly on special projects important to the firm's future. 

Riess begins his transition to retirement after almost 35 years of service to the firm. He served as chief financial officer of Raymond James Financial from its initial public offering in 1983 until 1987. Before becoming CEO of Eagle in 1996, he served as chief operating officer and president of Eagle, and helped establish the broker/dealer's various asset management programs. 

"Richard's leadership and dedication have left an indelible mark on the firm's history," Reilly said. "It is difficult to sufficiently express our gratitude for his many contributions to the firm's success."

"Richard first joined us when he was in college," added Executive Chairman Thomas A. James. "After demonstrating high intellect and a maturity beyond his years as our first assistant to the chairman, we encouraged him to seek an MBA from Harvard Business School. He served in numerous positions with us during his two tours of duty - among them, an investment banker in energy partnerships, CFO and head of our Asset Management group. In all cases, he demonstrated superior strategic planning skills and great loyalty to the firm's culture and principles. I salute him for his many contributions to the success of the firm."

Riess graduated with distinction from the Harvard Graduate School of Business in 1975 and is a Braxton Craven Fellow at Duke University.

The firm has begun the process of identifying a successor.

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