Client assets grew to more than $200 billion in 2017
Paul E. Purcell
MILWAUKEE, April 25, 2018 – Employee-owned Baird announced today that it posted record net revenues of $1.53 billion1 in 2017, a 10 percent increase over 2016. Operating income totaled a record $199 million and the firm’s 2017 return on book value, including a cash dividend paid to shareholders, was 20.8 percent. Baird’s assets in client accounts grew to $202 billion, a 162 percent increase over the past decade. The 2017 results, which are available in the 2017 Baird Annual Report, mark the firm’s eighth consecutive year of record revenues.
“Baird’s ongoing success is a result of our nearly 100-year commitment to partnering with our clients to help them navigate many market cycles,” said Steve Booth, Baird President & CEO. “Being employee-owned and independent also enables us to make strategic investments that expand and deepen our capabilities to deliver the best advice and service to our clients.”
Notable highlights from Baird’s 2017 annual report include:
- Private Wealth Management grew its assets under management to $136 billion, a record for the business.
- Asset Management continued to grow its businesses and assets under management rose to $65 billion.
- Equity Capital Markets posted record revenues for the second straight year, largely driven by continued strong M&A activity and a rebound in equity underwriting.
- Baird Capital, the firm’s private equity business, invested $97 million in six new and 17 follow-on investments. The business also successfully exited five investments and realized approximately $30.2 million.
- Fixed Income Capital Markets ranked as the No. 1 municipal underwriter in the United States for the ninth consecutive year, based on number of issues, according to Ipreo MuniAnalytics.
- FORTUNE magazine’s list of the 100 Best Companies to Work For - In early 2018, Baird ranked No. 12 on this prestigious list of companies considered to be great employers. Baird has been recognized on the list for 15 consecutive years and has ranked among the Top 25 for ten straight years.
“We are proud of our associates for delivering high-quality service and results to our clients,” said Paul Purcell, Chairman of Baird. “The expertise, culture and enthusiasm associates bring every day are important for our firm’s success and are a major reason why Baird continues to be recognized as a great place to work.”
Baird’s employee-owned model and balanced approach have enabled the firm to produce 152 consecutive quarters of operating profitability. Employment at Baird has also increased nearly 23 percent over the past five years.
In early 2018, Baird also made two strategic additions:
- Strategas: This leading boutique firm, whose primary focus is macroeconomic research, became a Baird-owned, independent company.
- John Taft: Baird welcomed this industry veteran as Vice Chairman and a member of Baird’s Executive Committee. John brings 35 years of experience to the firm.
“The addition of Strategas and John Taft to Baird was driven by an alignment of values, shared goals and clients-first culture,” said Booth. “We’re very pleased to bring their expertise and vision to the firm.”
To learn more about Baird’s financial performance and other 2017 highlights, please see the Baird 2017 Annual Report.
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 3,500 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $200 billion in client assets as of Dec. 31, 2017. Committed to being a great place to work, Baird ranked No. 12 on FORTUNE’s 100 Best Companies to Work For in 2018 – its 15th consecutive year on the list. Baird is the marketing name of Baird Financial Group. Baird’s principal operating subsidiaries are Robert W. Baird & Co. Incorporated 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.
For additional information, contact:
Baird Public Relations
1 Financial results do not reflect the consolidation of certain private equity partnerships.