Marlene Debel
RAYMOND JAMES FINANCIALAbout Marlene Debel
Marlene Debel (age 58) is an independent, non-executive director of Raymond James Financial since 2020. She chairs the Board Risk Committee (since 2023) and serves on the Audit Committee and Capital Planning Committee; she has no current or recent public-company directorships in the past five years . Her background includes executive leadership in risk and finance at MetLife, and prior roles at Bank of America and Merrill Lynch, and she is designated by the Board as an Audit Committee Financial Expert under NYSE/SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MetLife, Inc. | EVP, Chief Risk Officer and Head of MetLife Insurance Investments | 2023 – present | Enterprise risk leadership and investment oversight |
| MetLife, Inc. | EVP and Chief Risk Officer | 2019 – 2023 | Led firm-wide risk management |
| MetLife, Inc. | EVP and Head of Retirement & Income Solutions | 2018 – 2019 | Business leadership for retirement products |
| MetLife, Inc. | EVP and CFO, U.S. Business | 2016 – 2018 | Financial leadership for U.S. operations |
| MetLife, Inc. | EVP and Treasurer | 2011 – 2016 | Liquidity/treasury management |
| Bank of America | Global Head of Liquidity Risk Mgmt & Rating Agency Relations | 2009 – 2011 | Liquidity risk oversight and external ratings engagement |
| Merrill Lynch & Co., Inc. | Assistant Treasurer | 2007 – 2008 | Treasury roles supporting financial operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| LaGuardia Community College | Foundation Board Member | Not stated | Community involvement |
| Women’s Forum of New York | Former Board Member | Not stated | Prior non-profit role |
Board Governance
- Committee leadership and memberships:
- Risk Committee: Chair; 4 meetings in fiscal 2024 .
- Audit Committee: Member; 9 meetings in fiscal 2024; Board designated Debel an “audit committee financial expert” and financially literate under NYSE/SEC rules .
- Capital Planning Committee: Member; 4 meetings in fiscal 2024 .
- Independence: Board affirmatively determined Debel is independent under NYSE/SEC rules .
- Attendance and engagement: Board held 4 meetings in fiscal 2024; all director nominees (including Debel) attended 100% of Board and applicable committee meetings; directors attended the February 2024 annual meeting .
- Executive sessions: Non-executive directors meet in executive session at least four times per year; presided over by the Lead Independent Director (Jeffrey N. Edwards) .
- Risk oversight: As Risk Committee Chair, oversees ERM framework, risk governance structure, primary risk policies, and quarterly CRO/CCO reports .
Fixed Compensation
| Component (FY2024) | Detail | Amount |
|---|---|---|
| Fees Paid in Cash | Annual retainer and applicable chair fees (no meeting fees) | $157,500 |
| Equity (RSUs) – Grant | 1,711 RSUs granted Feb 22, 2024; grant-date price $116.83; vests at next annual meeting | $199,896 (fair value) |
| Total FY2024 Director Compensation | Cash + RSUs | $357,396 |
- Director fee schedule (effective Feb 2025; unchanged vs prior year): Annual retainer $125,000; Shares fee (RSU/DSU vesting ~1 year) $200,000; Chair fees: Audit $40,000; Risk $40,000; N&CG $25,000; C&T $25,000; company does not pay meeting attendance fees .
Performance Compensation
| Category | FY2024 | Notes |
|---|---|---|
| Options awards | None disclosed | Director equity is time-based RSUs/DSUs |
| Performance-based stock awards | None disclosed | No director PSUs or performance metrics disclosed |
| Performance metrics tied to director pay | None disclosed | RSUs vest at next annual meeting; no TSR/ROE metrics for directors |
Other Directorships & Interlocks
| Type | Company | Role | Status |
|---|---|---|---|
| Current public boards | None | — | None |
| Former public boards (past 5 yrs) | None | — | None |
| Potential interlocks | Lead Independent Director at RJF is Jeffrey N. Edwards; Debel not Lead Director | — | Context for governance (exec sessions) |
Expertise & Qualifications
- Deep finance and risk management experience; three decades of financial, strategic and risk leadership; proven business leader through periods of growth and change .
- Audit Committee Financial Expert designation; accounting and financial management expertise under NYSE/SEC rules .
Equity Ownership
| Item | Data |
|---|---|
| Shares of Common Stock held | 5,856 |
| RSUs held (as of 9/30/2024) | 1,711 |
| Total shares + RSUs (policy count) | 7,567 |
| Ownership guideline | Non-executive directors must hold 5x annual retainer; unvested time-based RSUs count; measured annually |
| Compliance status | Goal met (ü) |
| Pledged shares | None (company disclosure states no shares are pledged; directors individually <1% ownership) |
| Hedging/pledging policy | Prohibits options, short sales, hedging, and pledging of company stock |
Governance Assessment
- Strengths:
- Independent director with finance/risk depth; Audit Committee Financial Expert designation .
- Risk Committee Chair overseeing ERM/policies; consistent engagement with quarterly CRO/CCO reporting .
- 100% attendance at Board and committee meetings; strong engagement .
- Ownership alignment: meets 5x retainer guideline; unvested RSUs included; no pledging; trading limitations in place .
- Director compensation mix primarily cash retainer/chair fees and time-based RSUs; no performance-linked constructs that could incentivize short-termism .
- Potential risks/considerations:
- External executive role at MetLife (EVP CRO and Head of Investments) could present routine counterparty/client interactions with RJF’s businesses; however, RJF discloses no related-person transactions involving Debel, and the Board affirms her independence .
- Director RSUs are time-based; absence of performance-linked director equity is common, but investors may monitor overall board incentives versus long-term value creation .
- Red flags: None disclosed regarding related-party transactions, legal proceedings, hedging/pledging, or attendance shortfalls; board maintains clawback policies for executives and robust director trading restrictions .