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Raymond James to become a bank holding company

Raymond James’ reign as the largest US investment bank following the decisions of Goldman Sachs and Morgan Stanley to become bank holding companies was short-lived, as the regional bank will be following in their footsteps.

In a statement, the bank insisted its decision to seek holding company status was already part of its long-term business plans. The bank said it is making the change because it would allow a higher proportion of profitable corporate lending.

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