The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Toronto bank towers and skyline Nov. 10, 2010.
Toronto bank towers and skyline Nov. 10, 2010.
(Moe Doiron/The Globe and Mail)

Raymond James will not cut and run from Canada

Investment banks and brokerages with head offices beyond Canada’s borders have packed up and scaled back, but Raymond James says now is the time to be building its business.

“People are too short term,” said Paul Reilly, chief executive officer of Raymond James Finanacial, in an interview.

“A lot of times people get out of markets when they’re tough,” he said, alluding to the likes of Sitfel Nicolaus, which recently shut its Canadian outfit, “but our view is [that] it’s the time to invest. When markets are down it’s the best time to buy or bring people over.”