October 12, 2020
Raymond James adds veteran banker; strengthens Transportation Investment Banking capabilities
ST. PETERSBURG, Fla. ─ To continue the firm's growth in the Transportation sector, Raymond James has hired senior investment banker Alexander Setness as a managing director in its New York City office. Setness has nearly 20 years of transportation investment banking experience, with extensive expertise in cross-border M&A, strategic advisory and capital raising for companies and investors in the transportation sector.
Setness joins Raymond James from Bank of America where he led investment banking coverage for companies in the airline, surface transportation and transportation infrastructure sectors in North America. He previously was with Citi for over a decade where he was most recently head of EMEA transportation investment banking and was based in London. Setness received bachelor's degrees in history and economics from Yale University.
To better coordinate the firm's growing team in this important sector, Raymond James has consolidated the former Aviation & Aerospace and Transportation & Logistics practices into a single Transportation practice. Uniting the two practices into one will allow for more cohesive coverage of the global transportation sector through leveraging their similar characteristics.
'Transportation and the underlying movement of people and goods is a fundamentally important part of the economy,' said Chip Grayson, managing director and head of the Transportation sector practice. 'We see significant growth in the movement of goods and changes in the ways people move as well, especially given the current environment. The industry is dynamic and through this realignment and the team of professionals we've assembled, we're poised to meet the growing and changing needs of our transportation clients globally.'
The newly aligned sector team also features managing directors David Fowkes, who joined Raymond James in May, and Tom Mullins.
'With this more holistic view of the transportation sector, Raymond James is making a significant investment in its Investment Banking group,' said Setness, 'and to come join a talented team of professionals collectively focused on the transportation sector at a pivotal time for the industry was an opportunity I couldn't pass up. I'm looking forward to delivering successful outcomes for our clients and building on the expertise of the firm.'
'Given our longstanding coverage of the transportation sector and the rapid rate of change the industry is undergoing, now is the perfect time to expand the team and improve our ability to serve clients,' said Alper Cetingok, head of Raymond James' Diversified Industrials Investment Banking group. 'In addition to the historical areas of focus, we plan to expand our coverage to include shipping and rail and will expand our presence in logistics, given its fundamental importance to the growth of the transportation industry. Furthermore, we have achieved impressive growth within Diversified Industrials in the U.S. and Europe over the last 12 months, driven by nine senior banker hires, and are now extremely well positioned to service the industrials sector globally.'
About Raymond James Investment Banking
Raymond James Investment Banking offers highly regarded capital formation and financial advisory services. Since 2015, we have participated in raising nearly $265 billion in capital for our corporate clients and completed close to 850 advisory assignments, including more than 700 M&A buy-side or sell-side advisory assignments.
About Raymond James Financial
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. The company has approximately 8,200 financial advisors. Total client assets are $945 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at raymondjames.com.
Raymond James Financial Inc. published this content on 12 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2020 14:54:00 UTC