Raymond James has appointed Stephen Valelly as senior vice president of investments in the Dallas office of Raymond James & Associates.

Valelly, with 33 years’ financial services experience, joins Raymond James from Jefferies & Company, where he managed more than $100 million in client assets. Valelly began his career in the international private banking sector, ultimately becoming president of Bank of Boston International, where he had general management responsibility for the branch entities in Miami, Houston, Los Angeles, New York, Boston and Nassau, Bahamas.

Valelly later became a partner at Coral Rock Investments and was a commodity trading advisor for 12 years before transitioning into wealth management. He worked at Capital Institutional Services, Merrill Lynch and Jefferies before joining Raymond James.

In other recent hires at the firm, earlier this month Raymond James made David Patchen, a regional director for the firm’s independent broker/dealer, Raymond James Financial Services, senior vice president of education and practice management within the private client group.