Raymond James Financial : reports August 2015 operating data

September 23, 2015

ST. PETERSBURG, Fla. - In an effort to provide timely information to investors about general trends in our major business segments, we are releasing selected operating data for August 2015. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

Total securities commissions and fees of $299.7 million increased 8 percent compared to August 2014 and 2 percent compared to July 2015. The growth in August was largely driven by the Private Client Group segment, which started the quarter with a higher level of assets in fee-based accounts. Transactional commissions in the Private Client Group segment and Equity Capital Markets division also benefited from elevated market volatility at the end of the month.

Client assets under administration of $488.5 billion increased 1 percent over August 2014 but declined 3 percent compared to July 2015, as declines in the equity markets offset positive recruiting and retention results. Similarly, financial assets under management of $68.0 billion increased 3 percent over August 2014 but declined 4 percent compared to July 2015.

"Despite the market volatility and challenging environment, a robust month for M&A helped investment banking revenues increase over July 2015," explained CEO Paul Reilly. "Investment banking revenues for the quarter are trending modestly higher than the June 2015 quarter but well below the record set in the September 2014 quarter."

Total net loans at Raymond James Bank reached a record $12.7 billion, an increase of 17 percent over August 2014 and $300 million over July 2015. The growth was driven by consistently strong production coupled with a decrease in the rate of payoffs during the month.

Since August 24, the firm opportunistically repurchased 1,114,505 shares of its common stock for a total of $56.9 million as part of the publicly announced securities repurchase authorization that was increased to $150 million in May 2015.

"Notwithstanding headwinds from the equity markets, persistently low short-term interest rates and regulatory uncertainty, we are confident that our client-focused business model and solid balance sheet will enable us to compete effectively in any market environment," said Reilly.