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By: Michelle Abrego
Raymond James has sold off its stake in brokerage and capital markets firm Raymond James Argentina and $840 million asset manager RJ Delta Fund Management, giving ownership to the executives who have built up the firms.
The St.Petersburg, Florida-based firm entered Argentina with the acquisition of emerging markets research firm Caspian Securities in 1998, has handed over its ownership of the two firms.
It's holding company Raymond James South American Holdings had an 83% stake in Raymond James Argentina and 50.1% in RJ Delta Fund Management. Financial terms of the management buyout have not been disclosed.
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