Raymond James has promoted market veteran Horace Carter to be the co-head of the firm’s national fixed income capital markets division.
Carter, who began the job Jan. 1, is working with Kevin Giddis on the day-to-day management of the division’s sales, trading, research and underwriting operations, which support institutional and retail clients.
With more than 25 years of experience, Carter has “broad industry and institutional knowledge that will serve him well in his new position,” Raymond James President John Carson said in a statement.
“Horace is a respected leader and skilled market observer who will continue to strengthen Raymond James’ position as a leader in fixed income capital markets,” Carson said.
Carter previously was managing director and head of the firm’s fixed income trading group based in Memphis, Tennessee. He will continue to work in Memphis in his new position, the company said.
In 2012, Carter began working for Raymond James when it acquired Morgan Keegan. He began his career in 1993 as a junior trader at Morgan Keegan, and became the head of trading in 2008.
Carter said he welcomes the opportunity to work with Giddis, who has been a mentor. The top priority for the two as they lead the division, he said, is serving clients, as well as retaining and recruiting top talent.
He received a bachelor’s degree from the University of the South in Sewanee, Tennessee.
Carter is a member of the Security and Exchange Commission’s Fixed Income Market Structure Advisory Committee. He is also co-chair of the Taxable Fixed Income Committee for the Bond Dealers of America.
Based in St. Petersburg, Florida, Raymond James’ fixed income division has more than 500 professionals across the nation. Of those, about 170 work on public finance issues.
In the municipal bond market, the firm ranked eighth nationally last year as a senior manager, credited by Thomson Reuters with 486 issues valued at $12.65 billion, and was ninth in 2017 with 620 issues valued at $14.34 billion.
