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A big banker heads a big bank
Steven Raney, late of Bank of America, is the next chief of Raymond James Bank, the largest based in the bay area.
By HELEN HUNTLEY
Published December 28, 2005
Former Bank of America executive Steven Raney will become president and chief executive of St. Petersburg-based Raymond James Bank next week.
"I'm really excited about it," he said. "I think banking is in my blood."
He replaces Theresa Schefstad, who said in March she was retiring at year's end.
Raney, 40, spent 17 years at Bank of America, ending with a stint as president of the Tampa Bay division. He left 10 months ago to become director of business development for LCM Group, a Tampa investment company founded by D. Scott Luttrell.
Bank of America, based in Charlotte, N.C., is the largest bank operating in the bay area and Florida. Raymond James is the largest bank based in the bay area.
Raney said he missed banking.
"I really get energized leading a team, managing a group of people and finding the right talent," he said.
Raney expects to continue the rapid growth that has allowed the bank to reach $1.4-billion in assets. He said he hopes to expand the relationships the bank has with customers of parent Raymond James Financial.
"The bank has an opportunity to play a bigger role with some of Raymond James' corporate clients," he said.
Raney has bachelor's and master's degrees from the University of Florida and has served on the boards of nonprofit organizations, including the Tampa Bay Performing Arts Center and the Tampa Metro YMCA.
Schefstad, 47, said she is looking forward to spending time with her family, winding down from her 29-year, high-powered banking career. U.S. Banker recently named her one of the 15 most powerful women in banking. Since announcing her retirement, she said she has turned down two offers to start banks and five to serve on bank boards.
"I am interested in getting on a board, but I want to learn some new businesses," she said. Schefstad said she is talking with developers who are interested in real estate she owns.
Helen Huntley can be reached at huntley@sptimes.com or 727 893-8230.
[Last modified December 28, 2005, 00:36:14]
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