Baird Posts Record 2012 Results, Continues Strategic Expansion
Firm announces third consecutive year of record revenues
MILWAUKEE, April 10, 2013
|Paul E. Purcell
Employee-owned Baird announced today that it posted record net revenues of $961 million(1) in 2012, up from $925 million in 2011. The 2012 results, which are available in the just-released 2012 Baird Annual Report, mark the international financial services firm’s third consecutive year of record revenues. Baird’s operating income also rose to $100 million and the firm’s 2012 return on equity rose to nearly 13%.
“Our strong financial performance is only possible because of the strong partnerships we have with our clients,” said Paul E. Purcell, Baird Chairman, President & CEO. “Our commitment to providing the best financial advice and service to our clients and our employee-owned business model play a crucial role in our ongoing success.”
In recent years, Baird has made substantial investments in its business in order to meet its long-term objective of becoming the leading middle-market financial services firm in the world. Since the beginning of 2008, Baird’s employment has increased 22 percent, while employment in the U.S. securities industry decreased by more than 4 percent.
In 2012, Baird expanded in the following areas:
- Private Wealth Management opened new offices in Florida and Maine and continued to hire veteran Financial Advisors across the country. Baird now has nearly 700 Financial Advisors with an average of 19 years of industry experience.
- Asset Management, which added a small- and mid-cap value team at the end of 2011, continued to expand its assets under management.
- Investment Banking expanded its global platform, adding senior bankers, deepening its capabilities across most industry sectors and establishing access to resources in India and Japan.
- Public Finance launched a major initiative to serve the Texas market with new offices and bankers in Austin, Dallas and San Antonio.
- Client assets at Baird grew 14 percent during 2012 and totaled nearly $100 billion at year end.
“As an independent and employee-owned firm, we have the freedom and flexibility to strengthen our business and our relationships, even during challenging markets,” said Steve Booth
, Baird COO and Director of Investment Banking. “This has enabled us to establish an exceptional team and a powerful franchise that can compete at the highest level – all while serving the best long-term interest of our clients.”
To learn more about Baird’s financial performance and other 2012 highlights, please view the Baird 2012 Annual Report
. For additional perspective, watch a video from Paul Purcell
and other senior leaders.
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 approximately 2,800 associates serving the needs of individual, corporate, institutional and municipal clients. Baird had more than $99 billion in client assets on Dec. 31, 2012. Committed to being a great place to work, Baird ranked No. 14 on FORTUNE’s 100 Best Companies to Work For in 2013 – its tenth 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 investment banking and private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com
(1) Financial results do not reflect the consolidation of certain private equity partnerships.