That figure was down 34% from the nearly $35 million he earned the previous year. But that previous amount was bolstered by a one-time retention award of $15 million, according to a proxy statement filed with the Securities and Exchange Commission on Wednesday.
Reilly’s pay for 2024 consisted of a $750,000 salary, $11.65 million in cash bonuses, nearly $10.5 million in stock awards and $134,347 in other forms of compensation. The ratio of his payout to the median for Raymond James employees — which came in at $119,044 — was 194 to 1.
Raymond James’ proxy statement credited Reilly for helping increase the firm’s assets under management in its private client group — its main wealth unit — by 28% to $875 billion by the end of its latest fiscal year on Sept. 30. The statement also said the private client group’s assets under administration rose by 25% to $1.51 trillion and the firm recruited advisors who had generated $335 million in revenue over the previous year.
Raymond James meanwhile paid Paul Shoukry, scheduled to take over for Reilly on Feb. 20, just over $7 million. That was roughly a 6% increase for Shoukry, who now holds the titles of president and chief financial officer.