Raymond James Financial : forms Activism Response and Contested Situations Investment Banking practice

ST. PETERSBURG, Fla. - Raymond James announced today the establishment of an Activism Response and Contested Situations practice, becoming one of the only middle-market investment banks to offer a dedicated practice advising corporate clients on investor activism preparedness and response, contested M&A, shareholder engagement and corporate governance matters. This suite of specialized services is focused on providing small- and mid-cap companies with the tactical advice to best address the proliferation of shareholder activism through preparation, planning and enhanced shareholder engagement.

Leading the practice is senior banker Duncan Herrington who joins the firm as managing director with more than 12 years of M&A deal experience as both an investment banking professional and a lawyer. He joins Raymond James from Credit Suisse's contested situations team and was formerly an M&A attorney with Paul, Weiss, Rifkind, Wharton & Garrison and with DLA Piper.

"Many of our small- and mid-cap public company clients are increasingly facing pressure from activist investors," said Jim Bunn, head of Investment Banking at Raymond James. "We recognized our clients' growing need for sophisticated advice in this area and hired Duncan because of his extensive skill and experience in advising companies and their boards of directors that are under pressure from activists or unsolicited takeover attempts. His deep knowledge will be an immediate asset to clients."

The number of activist campaigns targeting middle-market companies increased about 163 percent since 2009, according to FactSet Research. In 2015, 208 activist campaigns were launched against 169 companies valued between $50 million and $1 billion.

"Activist investors are increasingly focusing on small- and mid-cap companies," said Herrington. "Raymond James is an early mover in building an activism advisory team for the middle market. With our deep capital markets capabilities, advisory resources and sector expertise, we are well positioned to support our clients' broader objective of generating long-term shareholder value across a wide spectrum of alternatives. I've helped companies of all sizes and from multiple sectors form plans that protect their shareholders' long-term interests and I look forward to building our Activism Response and Contested Situations team into a world-class practice."

Herrington holds a bachelor's degree from Rhodes College, a Master of Business Administration from London Business School and a Juris Doctor from Harvard Law School. A CFA charterholder and member of the State Bar of California, Herrington is based in New York City.

About Raymond James Investment Banking
Raymond James Investment Banking offers highly regarded capital formation and financial advisory services. Since 2011, Raymond James has participated in raising over $450 billion in capital for its corporate clients and completed more than 400 advisory assignments, including more than 350 M&A buy-side or sell-side advisory assignments.

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. The company has approximately 7,100 financial advisors serving in excess of 2.9 million client accounts in more than 2,800 locations throughout the United States, Canada and overseas. Total client assets are approximately $608 billion. Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF. Additional information is available atwww.raymondjames.com. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.