Replaces Zarcone who will become Executive Vice President, CFO of LKQ Corporation
MILWAUKEE, Feb. 26, 2015 – Baird, an international employee-owned financial services firm, announced today that long-time Baird associate Terry Maxwell will replace Dominick “Nick” Zarcone as the firm’s Chief Financial Officer effective March 10. Maxwell, who was at Baird from 1986 to 2006 and was Head of Investment Banking, rejoined Baird last year as Director of Corporate Development and Strategic Investment following several years in academics. In conjunction with the CFO responsibilities, Maxwell will continue to be actively involved in Baird’s strategic investment and acquisition activities.
Zarcone is leaving Baird after more than 20 years to become Executive Vice President and Chief Financial Officer of LKQ Corporation, a publicly traded Chicago-based company that is a long-standing Baird client. When Zarcone was part of Baird’s Banking group, he led a team that provided capital raising and strategic advice to help accelerate the growth of LKQ, a leading provider of recycled, alternative and specialty parts to repair and accessorize automobiles and other vehicles. Today, LKQ has approximately $6.7 billion of revenue, 29,000 employees around the world, and a market capitalization of more than $8 billion.
Zarcone joined Baird as a Managing Director in 1995, became Chief Operating Officer for Investment Banking in 2004 and Baird’s CFO in 2011. He was the senior member of the Baird Banking team that lead-managed LKQ’s initial public offering in 2003 and $100 million follow-on offering in 2005. He also led the Baird team that advised the company on its $800 million acquisition of Keystone Automotive in 2007. That transaction earned “Manufacturing Deal of the Year – Industrial” recognition from The M&A Advisor.
“Nick has been the consummate Baird associate and a strong partner to me, Terry, Steve Booth and the rest of our leadership team,” said Baird Chairman & CEO Paul Purcell. “He’s done a phenomenal job for us and we are proud of the service he has provided to LKQ over the years. While he will be greatly missed at Baird, we are incredibly excited for Nick as well as our long-time important partner LKQ.”
“Nick Zarcone and the rest of the Baird team have been important partners for LKQ,” said Robert Wagman, Chief Executive Officer and President of LKQ. “Nick is well-known and highly regarded by our entire senior leadership team and we are very pleased to have him joining our organization.”
“Paul and I have worked closely with Nick for more than 20 years. We’re sorry to have him leave Baird, but are also very happy for him and this next step in his career,” said Steve Booth, Baird President & Chief Operating Officer. “Terry’s ability to move into this new role is a testament to our long term focus on developing our internal talent, which creates a deep pool of talent that often enables us to successfully promote from within.”
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 3,100 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $145 billion in client assets. Committed to being a great place to work, Baird ranked number 9 on FORTUNE’s “100 Best Companies to Work For” in 2014 – its 11th 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 rwbaird.com.