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Michael Blostein

Managing Director and Senior Equity Analyst in Global Investment Research at Goldman Sachs

Alexander Blostein is a Managing Director and Senior Equity Analyst in Global Investment Research at Goldman Sachs, specializing in US asset managers, brokers, exchanges, and trust banks within the Financial Services sector. He covers specific companies including Invesco (IVZ), BlackRock (BLK), State Street (STT), Affiliated Managers Group (AMG), Hamilton Lane (HLNE), and Marex Group (MRX), with a strong performance track record featuring a 74% success rate, average return of 20.2% per rating on TipRanks where he ranks #47 out of 9,558 analysts, and a standout +147% return on his Buy rating for MRX. Blostein joined Goldman Sachs in 2007, was named Managing Director in 2015, and previously worked as an associate at Wachovia Securities. His professional credentials include FINRA registrations typical for senior equity analysts handling securities research and recommendations.

Michael Blostein's questions to RAYMOND JAMES FINANCIAL (RJF) leadership

Question · Q1 2026

Michael Blostein asked for elaboration on the specific investments driving the projected non-compensation growth for 2026, particularly in technology and recruiting efforts.

Answer

CEO Paul Shoukry detailed investments in cybersecurity, AI development across businesses, and infrastructure, emphasizing the scale required to maintain competitiveness. He highlighted the recent launch of 'Rai,' an AI operations agent, as an example of efficiency-generating tools, noting that over 10,000 associates already use AI regularly. In a follow-up on share repurchases, CFO Butch Oorlog confirmed $400 million repurchased this quarter and a target of $400 million for the current quarter, noting an additional $80 million preferred equity redemption. He reiterated the commitment to the $400-$500 million quarterly repurchase level, while monitoring the Tier 1 leverage ratio.

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