Raymond James Financial Inc. said it plans to combine two brokerage subsidiaries under the name Raymond James Financial Services Inc.
The combined unit will consist of Robert Thomas Securities Inc. and Investment Management and Research Inc. They will continue to operate independently.
"We're a large firm, and we wanted to be able to get better leverage out of our national marketing," a company spokesman said.
M. Anthony Greene, president of Investment Management, will be chairman of the unit, and J. Stephen Putnam, president of Robert Thomas, will be president. Mr. Putnam will continue to oversee the third-party marketing division of Robert Thomas, which has more than 125 bank clients.
Raymond James, St. Petersburg, Fla., manages more than $12 billion of assets.