Raymond James Financial has announced that its CFO Jeff Julien will retire at year-end after more than three decades in the role.

He will be replaced by the company’s current treasurer and senior vice president of finance and investor relations Paul Shoukry.

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To ensure a smooth transition, Julien will remain executive vice-president of finance and as a senior adviser for brief period of time, the company said.

Julien, who joined the firm in 1983 after working as a certified public accountant for Price Waterhouse, became the company’s finance chief in 1987.

Raymond James Financial chairman and CEO Paul Reilly said: “Jeff has had an extraordinary career, serving over 32 years as Raymond James’ CFO, during which time we have enjoyed 124 consecutive quarters of profitability.

“In addition to leading our finance function during a remarkable period of organic and acquired growth, Jeff also oversaw the formation and development of Raymond James Bank, which represented 38% of the firm’s pre-tax income this past year.”

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Concurrently, the company also named Jennifer Ackart, senior vice president and chief accounting officer, as the CFO of its subsidiary Raymond James & Associates, effective immediately.

Ackart will replace Richard Franz, who retired in January this year.

Reilly stated: “Paul and Jennifer have done an outstanding job managing critical aspects of our finance functions, and bring considerable expertise and institutional knowledge to their roles. A meaningful part of Jeff’s legacy is the strong leadership team Paul, Jennifer and others represent.”

“Paul is a talented leader and we are confident in his ability to support our continued growth plans as CFO,” Reilly added.

Last year, Raymond James Financial’s COO Dennis Zank also retired  after working in the company for around four decades.

The company named Scott Curtis as head of its Private Client Group (PCG) in July last year as part of a reshuffle of its senior management team.