EXTON, Pa., June 23, 2008
Baird, one of the FORTUNE 100 Best Companies to Work For®, today announced it has added a team of six public finance and asset management professionals to work with Baird’s Public Finance clients including cities, counties, school districts and other public entities, providing debt financing and strategic investment services. The team, all formerly of Ferris, Baker Watts, Inc., operates out of Baird’s two new offices in Pennsylvania and New Jersey, further expanding the firm’s footprint on the East Coast.
Leslie “Les” Bear, Managing Director, Daniel Fox, Director, James “Jamie” Shelby, Director, Audrey S. Bear, Assistant Vice President, and Barbara Patragnoni, Financial Analyst have joined Baird’s Public Finance group and are operating out of the firm’s new Exton, Pa. office, located at 140 South Village Avenue, Suite 10. The Exton team provides comprehensive debt financing services including structuring, underwriting and financial advisory assistance.
“Baird has served as a trusted financial partner to cities, counties, school districts and countless other public entities over the years,” said Keith Kolb, Managing Director of Baird’s Public Finance group. “We are excited about establishing more partnerships with clients in Pennsylvania and the surrounding areas.”
John “Jack” Kinnerman, has joined Baird Public Investment Advisors as Vice President and Portfolio Manager. Kinnerman is based out of Baird’s new Laurel Springs, N.J. office, located at 1405 Chews Landing Road, Suite 24. Kinnerman works directly with Baird’s public entity clients, developing tailored investment strategies to fit their unique investment needs.
Mary Ellen Stanek, Baird’s Director of Asset Management said, “Jack’s arrival enhances Baird’s growing ability to meet all of the specialized fixed income investment management needs of our Public Finance clients.”
The addition of the team and the two new offices illustrate Baird’s growing presence on the East Coast. The firm now operates offices in Florida, Georgia, North Carolina, Virginia, Pennsylvania, New Jersey, Connecticut and Massachusetts. In addition, Baird’s Public Finance group has grown steadily, requiring additional capabilities in more markets. Last year, Baird added Public Finance professionals to its Cincinnati and Nashville offices. Furthermore, Kinnerman is the third addition to the Baird Public Investment Advisor group within the past nine months, illustrating increasing demand for asset management services from public finance clients.
About Baird’s New Team
Leslie “Les” L. Bear, Managing Director
Les Bear has worked in Pennsylvania public finance since 1984. He joined Ferris, Baker Watts, Inc. in September 2006 where he coordinated the activities of the Pennsylvania Public Finance Department. Prior to joining Ferris, Les was President of Arthurs Lestrange & Company, Inc. and also served as Business Manager for Pocono Mountain and Bangor Area School Districts. He has structured and managed over 1,000 financings, totaling over $10 billion. Les is a Municipal Securities Principal, Investment Advisor Representative and Municipal and General Securities Representative with the Financial Industry Regulatory Authority (FINRA) and has successfully completed the Series 52, 63, 65, 24 and 7 examinations. He received a bachelor of science degree and a master of science degree in Business Education from Shippensburg University.
Daniel C. Fox, Director
Dan Fox has more than 25 years experience in governmental finance, including time spent with Commerce Capital Markets, Legg Mason Wood Walker, A.G. Edwards & Sons, Inc., and Ferris, Baker Watts, Inc. Prior to those positions, Dan spent 18 years as a municipal manager in Pennsylvania. Since beginning his career in investment banking in 2000, he has completed more than $2 billion in bond issues. Dan is a licensed Municipal Securities Principal. He received his bachelor of arts degree from West Chester State University.
James “Jamie” C. Shelby, Director
Jamie Shelby has worked in Pennsylvania public finance since 1984, specializing in public and higher education, housing, transportation, infrastructure and project financings. Jamie joined Ferris, Baker Watts, Inc. in 2006. Prior to joining Ferris, he was part of the Public Finance Group for Arthurs Lestrange & Company, Inc. and was a founding partner of Shelby, Kern, Frederick and Shelby. He also served as Managing Director of Public Finance with Russell, Rea & Zappala, Inc. Jamie is a Municipal Securities Principal, Investment Advisor Representative and Municipal and General Securities Representative with the Financial Industry Regulatory Authority (FINRA). He received his bachelor of arts degree from Pennsylvania State University BA and attended the National School of Bank Investments at Southern Methodist University.
Audrey S. Bear, Assistant Vice President
Audrey Bear joined Ferris, Baker Watts, Inc. in September 2006. Prior to joining Ferris, Audrey was a part of the Public Finance Group of Arthurs Lestrange & Company Inc. She is a licensed General Securities Representative with the National Association of Securities Dealers (NASD). Audrey graduated from Shippensburg University with a bachelor of science degree and from Penn State University with a master of business administration.
Barbara “Barb” W. Patragnoni, Financial Analyst
Barb Patragnoni joined Ferris, Baker Watts. Inc. in September 2006. Prior to joining Ferris, she was a part of the Public Finance Group of Arthurs Lestrange & Company Inc. From 1996 to 2000, Barb served municipal issuers at Penn Capital Advisors and at A.H. Williams & Co., Inc. from 1985 to 1991. Barb attended The College of New Jersey and Philadelphia University.
John “Jack” A. Kinnerman, Senior Portfolio Manager
Jack Kinnerman joined Ferris, Baker Watts, Inc. in 2006. Prior to Ferris, he worked as Vice President and Portfolio Manager at Arthurs Lestrange & Company, Portfolio Manager at Hopper Soliday & Co., Inc., Vice President and Portfolio Manager of Wheat, First Securities, Inc. and Vice President with Meritor Financial Group. Jack also worked with First Pennsylvania Bank & Trust Co. and Merrill Lynch. He received his bachelor of science degree from Villanova University and his master of business administration from Drexel University.
About Baird’s Public Finance Group
Baird is a major underwriter and financial advisor to municipalities, schools, government agencies and corporations. During the past five years, Baird has served as senior manager, co-manager or financial advisor for debt issues totaling $79 billion. Nationwide, Baird ranked among the top 10 firms in 2007, as an underwriter of negotiated issues of $20 million or less, according to Thomson Financial Securities Data. Baird has ranked as the No. 1 underwriter in the Midwest for negotiated issues under $20 million since 2002 according to Thomson Financial. Baird was honored as advisor of the “Midwest Regional Deal of the Year” by The Bond Buyer in 2007.
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,300 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $73 billion. Committed to being a great place to work, Baird is one of FORTUNE’s “100 Best Companies to Work For” in 2008 -- its fifth consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com.