US-owned wealth manager and Financial Planner Raymond James and Charles Stanley has appointed Kim Jenson as interim CEO, subject to regulatory approval, after CEO Paul Abberley stepped down.

She will assume immediate responsibility for overseeing the Raymond James UK wealth management business while an external search for a permanent CEO is underway.

Ms Jenson has joined from the US where she was chief operating officer for Raymond James’ US Private Client Group, a business with more than $1.5trn (£1.13trn) in assets under administration and more than 1.5 million clients.

Before joining Raymond James, she was a managing director in UBS Wealth Management Americas Chicago market, where she was responsible for market leadership, business development, recruitment and risk management. She previously served as the firm’s chief of staff for the CEO and began her career there as a divisional director.

Ms Jenson also spent 15 years at Piper Jaffray (now Piper Sandler) in Minneapolis and was a member of the private client business executive committee.

Sandy Kinney Pritchard, chair of Raymond James Wealth Management, said: “The board is delighted to be able to call on a leader with Kim’s track record and client-focused leadership as we continue the integration of the two businesses.

"Kim has a wealth of experience in managing complex business integrations, as well as a deep understanding of Raymond James’ business and a proven track record in delivering for clients.”

He said Mr Abberley had been instrumental in laying the foundation for a successful integration. “We are grateful for Paul’s 11 years of significant contribution to Charles Stanley and Raymond James Wealth Management, and his commitment to innovation in client propositions and service provision.”

Peter Moores will remain CEO of Raymond James Investment Services (RJIS).

Raymond James Financial is a diversified financial services company founded in 1962 in St Petersburg, Florida, USA, and a public company since 1983. It has approximately 8,700 wealth managers located in the US, Canada, the UK and elsewhere overseas, with total client assets of approximately $1.28trn (£1trn).

Since starting in the UK in 2001, the company said it had doubled its assets under management every three to four years. In 2022 it completed a £280m takeover of rival Charles Stanley.