Steve Kropf has been appointed president of Raymond James Tax Credit Funds (RJTCF), a national syndicator of low-income housing tax credits.
He takes over the top post from Ron Diner, who will remain involved in the company as executive chairman. Kropf had been executive vice president and director of investments of the St. Petersburg, Fla.-based firm.
"Steve's promotion to lead RJTCF is a reflection of his accomplishments and the increased responsibilities he has assumed over the years," Diner said. "I am confident RJTCF will continue to flourish under Steve's guidance. I served as president of RJTCF since its inception and am proud of the successful business that it has become. After 29 years, it's time for me to scale back my day-to-day activities and guide a seamless transition of responsibilities."
Diner joined Raymond James Financial in 1983 and started RJTCF in 1986. Kropf joined RJTCF in 2000 after serving as a senior manager in the financial advisory services practice at PricewaterhouseCoopers.
The firm has raised more than $4 billion in equity for 1,300 properties across the country.
“It’s an honor to be chosen to lead RJTCF,” Kropf said. “Ron established a solid foundation that we continue to build upon while remaining a top provider of financing for high-quality affordable housing across the country.”