Raymond James clarifies shift to bank holding company

09/26/2008 | CNNMoney

Raymond James Financial said plans to convert from a thrift into a bank holding company predate similar decisions by Goldman Sachs and Morgan Stanley. "It's an unfortunate misperception that Goldman Sachs, Morgan Stanley and now Raymond James are fundamentally changing their business models," said Chief Executive Officer Thomas A. James. "In fact, these changes are more form than substance in that regard."

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