Raymond James Financial Inc. has formed a diversified industrials practice in its investment banking division.

The new segment is the combination of three company groups — industrials, transport and infrastructure, and security, defense and government services. It will cover different sectors in the industrials marketplace on a global basis.

Managing director and senior banker Alper Cetingok will lead the new practice, which has 50 employees located in nine offices across North America and Europe. He will also continue to serve as head of the company's security and safety practice.

Meanwhile, Gary Downing, who was head of the industrials group, will serve as COO of the diversified industrials practice.