Equity Capital Markets

From trading to banking, Equity Capital Markets is committed to delivering Baird's full global capabilities to every client transaction. Because one team, built on knowledge, continuity and integrity, is the foundation of great outcomes.

Institutional Equities & Research

Despite another year of challenging business conditions, our Institutional Equities & Research teams remained true to the best long-term interests of clients and gained substantial market share as a result. In 2012, we further expanded our sales and trading capabilities and enhanced our talent with key senior additions. We grew our research coverage to include portfolio strategy and 695 companies - a 40% increase over the past five years - while maintaining outstanding quality. The 2012 Financial Times/StarMine and The Wall Street Journal surveys of top analysts recognized 11 Baird research teams with a total of 17 awards. Our commitment to the business underlies the top rankings we received in the 2012 Greenwich Associates' survey,1 including - for the ninth and tenth consecutive years, respectively - "most trusted" research and best "overall sales quality." Our teams also hosted four successful conferences that included more than 7,300 one-on-one meetings between institutional investors and company executives.

1 Greenwich Associates U.S. Equity Investors - Small/Mid-Cap Funds, April 2012. Surveys conducted with 94 U.S. small-cap and mid-cap fund managers. Rankings based on top 10 research firms in survey.

Investment Banking

During 2012 we further strengthened Baird's global banking platform. We increased the team to 230 banking professionals in the United States, Europe and Asia, including recruiting or promoting 13 Managing Director-level bankers. We broadened our capabilities across almost all industry sectors for mergers and acquisitions, equity financings and debt advisory services. We also expanded access to resources in Japan and India. Our unique "one team" approach to creative, global solutions helped drive a record year on virtually every key measure, including the number and value of financings and book-run activity, as well as the total value of merger and acquisition deals. We also significantly increased our transaction size - one-fourth of all M&A transactions during 2012 exceeded $400 million. The median size was a record at nearly $200 million, up approximately 40% from a year ago.

Our Investment Banking team delivers the entire organization to help create the best possible outcome for clients. With an incentive structure that fosters collaboration, we work seamlessly across geographies, industries and product groups to leverage Baird's deep sector knowledge and strong relationships with strategic and financial buyers. One such deal, the sale of Euro Car Parts Holdings to LKQ Corporation, was named Cross-Border Deal of the Year ($100 million to $500 million) by The M&A Advisor. It was the eighth consecutive year Baird has received a Deal of the Year award.