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TAMPA BAY
Raymond James fined $17 million
The Financial Industry Regulatory Authority (FINRA) fined two Raymond James companies a total of $17 million for “widespread failures related to the firms' anti-money laundering (AML) programs,” a statement says.
Raymond James & Associates Inc. was fined $8 million and Raymond James Financial Services Inc. received a $9 million fine. Linda Busby, a former anti-money laundering compliance officer with Raymond James & Associates, was fined $25,000 and suspended for three months.
According to FINRA, the companies failed “to establish and implement adequate AML procedures, which resulted in the firms' failure to properly prevent, detect, investigate and report suspicious activity for several years.”
“Raymond James had significant systematic AML failures over an extended period of time, made even more egregious by the fact the firm was previously sanctioned in this area,” says Brad Bennett, FINRA's executive vice president and chief of enforcement, in the statement. “The monitoring for suspicious transactions is an essential part of protecting our financial system and firms must allocate adequate resources to their AML compliance efforts.”
St. Petersburg-based Raymond James and Busby didn't admit or deny the charges. But the company and Busby consented to FINRA's findings.
Hospital system adds executive position
Lakeland Regional Health promoted Danielle Drummond to its newly created role of chief operating officer.
Drummond will oversee the medical center, physician group, Hollis Cancer Center and clinical joint ventures, a statement says. Her role also includes oversight of facility design and construction.
Since joining Lakeland Regional Health in 2013, Drummond has helped lead the Clark and Daughtrey Medical Group transition and the expansion of the Hollis Cancer Center. She previously worked as vice president of operations for Lankenau Medical Center in Philadelphia.
SARASOTA-MANATEE
New Tervis president continues family legacy
Tervis Tumbler, one of the largest employers and manufacturers in the Sarasota-Manatee region, named Rogan Donelly president.
Donelly, 31, has served in a variety of positions in his seven years with the drinkware company, a statement says. He is son of the chairman and grandson of the company's founder.
Donelly will assume the president's role from Pat Redmond, who will assist with the transition and remain on the company's board of directors.
“Having Rogan assume the leadership has been in our plans for several years,” says Norbert Donelly, Tervis chairman, in a statement. “This is a well thought out step in the evolution of our family-owned company. We are grateful to Pat Redmond to get us ready for this move.”
Tervis was founded in 1946 and has about 1,000 employees.
Nationally recognized homebuilder reports steady sales
Neal Communities, the 45th ranked homebuilder nationwide on Builder Magazine's list of the 100 top homebuilders, reported a steady sales pace in April.
The Lakewood Ranch-based homebuilder had 101 new home sales from Hillsborough County to Collier County for the month, a statement says.
“Traditionally this is the month when we see sales and traffic slow down as our part-time residents and visitors head back up north,” says Michael Storey, president of Neal Communities, in a statement. “While our sales and traffic numbers certainly slowed last month, we continued to see quality buyers in the market with favorable buying conditions like low interest rates, moderate inventory and normal price increases.”
The homebuilder has sold 391 homes so far in 2016. It closed 989 home sales last year.
CHARLOTTE-LEE-COLLIER
Behavioral health nonprofit appoints CEO
Fort Myers-based SalusCare promoted Stacey Cook-Hawk to president and CEO, a statement says.
Cook-Hawk had been interim president and CEO since October, when she replaced Kevin Lewis. Her experience in the behavioral health care field dates back to her volunteer days with the Rieves Residential program at the former Ruth Cooper Center/Lee Mental Health in 1993.
SalusCare Inc. is a nonprofit mental health and substance abuse organization.
Airport official wins industry honor
The Southeast Chapter of the American Association of Airport Executives named Robert Ball, executive director of the Lee County Port Authority, the 2016 airport professional of the year.
Ball directs the administration, operations and development of Southwest Florida International Airport and Page Field in Fort Myers and is on the board for Airports Council International-North America. This is his third time receiving the award.
Southwest Florida International Airport served more than 8 million passengers in 2015.
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