Reflecting on 2025 and Looking to 2026
Investment in People and Partnerships Supports Issuers Nationwide
As we turn the page to 2026, we reflect on a year defined by continued momentum, thoughtful growth, and an unwavering focus on serving our clients. In 2025, our Public Finance platform continued to strengthen its national footprint while remaining grounded in local expertise, collaboration, and long-term client relationships.
Our success was driven in large part by deliberate investment in our people. Today, the Public Finance team is comprised of approximately 90 professionals across 16 offices in 12 states, providing broad geographic coverage and deep sector knowledge. We remain committed to developing talent internally, and in 2025 we were proud to promote Josh Janak, James Srouji, Mike Williamson, and David Wood into banking roles. These promotions reflect both individual achievement and our focus on building a deep, experienced bench that supports consistency and continuity for our clients.
We also expanded our team with experienced professionals who further strengthen our capabilities and extend our reach. Tim Kelly joined Baird as a Managing Director, broadening our Higher Education and Non-Profit presence on a national level while complementing the strong regional coverage already in place. Jennifer Engel joined our Wisconsin Public Finance Group as a Vice President, expanding the team’s capacity to support municipalities, counties, and special districts with tailored financing solutions.
Throughout 2025, our Public Finance teams partnered with issuers in 24 states to deliver funding strategies designed to meet their unique objectives. Supported by the strength of our underwriting desks and a continued emphasis on client focus, Baird ranked as the No. 1 municipal underwriter nationally by number of issues in 2025 and collectively since 2009. Over that same period, Baird has also ranked among the Top 5 municipal advisors nationally by number of issues, according to S&P Muni Deal Query.
As we look ahead, we remain focused on helping our clients navigate an evolving market environment with clarity, discipline, and confidence. Our ongoing investment in people, capabilities, and supporting resources positions us well for the year ahead, and we are grateful for the trust our clients place in us. We look forward to seeing what we can accomplish together in 2026.
Brian Brewer
Director of Public Finance
Source: S&P Muni Deal Query as of December 31, 2025. Does not include private placements or notes.
