Baird Launches Clean Technology Focus

Baird today announced that it has launched a Clean Technology focus, adding several seasoned research analysts and investment bankers with deep expertise. The addition makes Baird one of only a few financial services firms that provide equity research, policy research and investment banking capabilities in the sector, and marks the latest investment in enhanced expertise at the employee-owned, international wealth management, capital markets, private equity and asset management firm.

“Clean technology is an area of tremendous growth and, in many ways, a natural extension of several of Baird’s existing areas of focus,” said Chairman, President and CEO Paul E. Purcell. “Adding this talented and experienced team gives us immediate credibility and a unique competitive advantage in this very dynamic sector. It establishes Baird as a premier clean technology equity capital markets franchise.”

Expanding Baird’s Industry Leading Research
Anchoring the clean technology research effort are Michael Horwitz, Senior Research Analyst and Christine Tezak, Senior Energy & Environmental Policy Analyst. Prior to joining Baird, Horwitz was the co-founder of the Clean Technology Research practice at the Stanford Group. He also was partner and senior research analyst of the Clean Technology Practice at Pacific Growth Equities.

Horwitz, who is based in Baird’s San Francisco office, will initiate research coverage of several clean technology sectors. He is joined by research associates, Ben Kallo and Ralph Fong.

Tezak provides advice on the investment impact of federal legislation, regulation and politics on publicly traded equities in the electric, natural gas, independent power, alternative energy and clean/green technology sectors. Previously, she headed the Electricity, Natural Gas and Environmental Policy Research effort at the Stanford Group. Prior to that, she was a principal of the Washington Research Group.

Tezak works from Baird’s office in McLean, Va.

“Michael and Christi are very well-respected for their insights, and we’re pleased that they’ve chosen to join Baird,” said Robert Venable, Director of Research. “The clean technology sector is rapidly developing and expanding, and adding the team’s expertise further complements the high quality research Baird already provides.”

Broadening Respected Investment Banking Capabilities
Baird has added Gary Vollen, Managing Director, to lead the new clean technology investment banking effort. A senior investment banking professional with 25 years of experience, Vollen is responsible for establishing relationships with and offering Baird’s advisory services to clean technology companies and the private equity and venture capital firms that invest in the sector. Prior to joining Baird, Vollen led the Stanford Group’s Clean Technology Investment Banking practice. He previously ran the Technology Investment Banking group at Pacific Growth Equities.

Vollen is joined by two other investment banking professionals, Melody Jones McDowell, Director, and Joshua Fiedler, Vice President. All three bankers are based in San Francisco. The team will work closely with Greg Ingram, co-director of Equity Capital Markets also in our San Francisco office. Prior to joining Baird in 2008, Ingram worked with Horwitz and Vollen at Pacific Growth Equities.

“We are very excited to have Gary, Melody and Josh join our team,” said Steve Booth, Director of Investment Banking. “As our Investment Banking group continues to strengthen its presence on the West Coast and deepen our relationships with the venture capital community, the team’s knowledge of and experience with clean technology players will be a huge strategic advantage.”

Continued Investments in Equity Capital Markets Platform
The addition of a clean technology focus continues the expansion of Baird’s Equity Capital Markets platform:

• Over the past five years, Baird’s Equity Research group has countered industry trends, increasing research coverage 33 percent to 535 companies across eight industry sectors. During 2008, Baird’s Equity Research department issued more than 10,000 reports.
• Since the beginning of 2008, Baird’s Investment Banking group has added ten Managing Directors and expanded its global reach to include a new office in Shanghai.
• The firm’s Institutional Sales and Trading group has achieved record revenues for the past 14 straight years.
• Baird recently unveiled a new sales and trading floor at its Milwaukee headquarters, with state-of-the-art tools to better serve clients around the world.

About Baird’s Equity Research Group
Baird’s Research Department consists of 110 research professionals, including 37 senior analysts, covering more than 535 U.S. companies. Baird analysts have been recognized repeatedly in The Wall Street Journal’s annual “Best on the Street” survey and honored by StarMine as top analysts.

About Baird’s Investment Banking Group
Recognized as the 2008 “Middle Market Investment Bank of the Year” by Buyouts magazine, Baird is a leading international investment bank focused on the middle market. Approximately 140 investment banking professionals in the U.S., Europe and Asia provide corporations with in-depth market knowledge and extensive experience in merger and acquisition and equity financing transactions. Over the past 10 years, Baird has advised on over 620 M&A and financing transactions with a total value of $107 billion. Over the past five years, European and transatlantic assignments have accounted for approximately one-third of our M&A transactions. In addition to the Buyouts award, Baird received “Deal of the Year” recognition from The M&A Advisor in 2008 for the fourth straight year, and was named “Manufacturing Sector Adviser of the Year” in 2008 and 2009 by Acquisitions Monthly in the UK.

About Baird
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 2,400 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $62 billion. Committed to being a great place to work, Baird ranked number 14 on FORTUNE’s “100 Best Companies to Work For” in 2009 -- its sixth 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 operating subsidiaries in Asia supporting Baird’s private equity and investment banking operations. For more information, please visit Baird’s Web site at www.rwbaird.com.