Press Release

Media Contact: Jana Strange, 727.567.2824
raymondjames.com/media

January 7, 2015

RAYMOND JAMES INVESTMENT BANKING ADDS
A LIFE SCIENCES TEAM TO ITS HEALTH CARE PRACTICE

ST. PETERSBURG, Fla. - Raymond James announced today the establishment of a Life Sciences practice in its Health Care Investment Banking group with the anchor hires of three bankers. The new Life Sciences bankers will offer a full range of investment banking advisory and capital raising solutions primarily in the biopharmaceuticals, biotechnology and pharmaceutical sectors. These are the first in a planned series of Life Sciences hires across the firm's Equity Capital Markets division.

Joining the firm are David Stubbs, managing director and team lead; David Rappaport, senior vice president; and Ann Pan, associate. All three join from Inverness Advisors, a boutique firm co-founded by Stubbs, Rappaport and others. The three collectively have more than 34 years of investment banking experience, largely in the life sciences area.

"The life sciences industry is one of the largest and most vibrant capital markets sectors," said Jim Bunn, head of Investment Banking at Raymond James. "Adding the extensive experience of David and his team to the firm's substantial platform capabilities will allow us to build an industry-leading Life Sciences Investment Banking practice."

"This key addition of a high quality Life Sciences practice will enable us to offer comprehensive advisory and financing capabilities to clients across the entire health care continuum," said Riley Sweat, head of Health Care Investment Banking at Raymond James. "Dynamic growth in this sector provides us the opportunity to further position the firm and our health care practice as an industry leader."

"By joining a strong, entrepreneurial and client-focused firm with a great platform, we have everything we need to build a premier Life Sciences practice," Stubbs said. "The collective experience of our team can immediately be put to use for our clients."

Stubbs and Pan are based in San Francisco while Rappaport, a Chartered Financial Analyst, is based in Atlanta.

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