Raymond James Financial Services Inc. said its financial institutions division is moving from Kansas City to St. Petersburg.

The move is part of an effort to consolidate duplicate functions within the firm.

The division's president, Brewster Ellis, has chosen to remain in Kansas City to pursue other business interests, a spokesman said Thursday.

James Fulp will take over as president of the division effective Oct. 1.

Mr. Fulp, currently director of business development at Raymond James Financial Services, is already based in St. Petersburg. He will oversee the transfer, which will take place over the next five to six weeks.

Mr. Ellis will work with the company as a consultant until Oct. 1, the spokesman said.

Raymond James Financial Services was created early this year with the consolidation of two independent contractor subsidiaries: Investment Management and Research Inc. and Robert Thomas Securities Inc. The financial institutions division, the company's third-party marketing arm, has 250 banking institution clients, according to data published by American Brokerage Consultants.

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