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High-Profile Asset Management Banker Steven Berger Joins Raymond James

Steven Berger moves from Rothschild to Raymond James, enhancing Raymond James' asset management and financial services expertise.

By Alex P. Chase

4/3, 17:16 EDT

Key Takeaway

  • Steven Berger moves from Rothschild & Co. to Raymond James, enhancing Raymond James' asset management and financial services banking.
  • Berger's notable transactions at Rothschild include deals with Man Group Plc, AllianceBernstein, HighVista Strategies, and Patria Investments.
  • This high-profile transition reflects the dynamic nature of investment banking talent shifts and their impact on client relationships.

High-Profile Banking Move

Steven Berger, a managing director at Rothschild & Co., has transitioned to Raymond James Financial Inc., marking a significant career move within the financial services industry. Berger, who has built a reputation as an asset management banker, will undergo a period of gardening leave before officially starting his new role. He will report directly to John Roddy, the head of financial services investment banking at Raymond James.

Berger's career at Rothschild began in 2019, following a substantial tenure of approximately nine years at Credit Suisse. This move underscores the dynamic nature of career progression in the investment banking sector, where expertise in asset management and advisory services is highly valued.

Berger's Contributions at Rothschild

During his time at Rothschild, Berger played a pivotal role in advising on several key transactions. These include the sale of a controlling stake in Varagon Capital Partners to Man Group Plc, the sale of CarVal to AllianceBernstein, and the divestitures of Abrdn’s US private markets and European private equity businesses to HighVista Strategies and Patria Investments, respectively. His involvement in these transactions highlights Berger's expertise and the trust clients place in his advisory capabilities.

Industry Implications

The move of a high-profile banker like Steven Berger from Rothschild to Raymond James is indicative of the ongoing talent shifts within the investment banking industry. Such transitions can have implications for the firms involved, potentially affecting their client relationships and ongoing projects. For Raymond James, bringing in a banker with Berger's experience and track record could bolster their asset management and financial services investment banking offerings.