Baird Posts Record Net Revenues For Tenth Consecutive Year
2019 net revenues exceed $2 billion
MILWAUKEE – May 11, 2020 – Baird, an employee-owned, international wealth management, asset management, investment banking/capital markets and private equity firm, announced today it posted record net revenues of $2.06 billion1 in 2019, a 15 percent increase over 2018. Operating income totaled nearly $262 million, the firm’s best result to date. The firm’s 2019 return on book value was 14.2 percent, and Baird’s assets in client accounts grew to more than $305 billion, a 306% increase over the past decade. The 2019 results, which are available in the 2019 Baird Annual Report, mark the firm’s tenth consecutive year of record revenues.
“Baird’s strong 2019 results and strategic accomplishments enhanced our position to deal with the unexpected implications of COVID-19,” said Steve Booth, Baird President & CEO. “Last year was also a particularly historic year for Baird as we celebrated our 100th anniversary as a firm and joined forces with Hilliard Lyons. This partnership has brought together two firms with shared values and business philosophies and strengthened our offerings in private wealth management, investment banking and public finance.”
Baird has achieved significant success year-over-year through its balanced platform of five strategic businesses:
- Private Wealth Management oversaw more than $215 billion in client assets as of the end of 2019. With the addition of Hilliard Lyons, Baird now serves private wealth management clients in more than 160 locations in 33 states.
- Asset Management: Baird Advisors, the firm’s fixed income investment management team, grew its assets under management to more than $87 billion. Baird Equity Asset Management also posted a year of strong growth.
- Fixed Income Capital Markets ranked as the No. 1 municipal underwriter in the United States for the 11th consecutive year, based on number of issues, according to Ipreo MuniAnalytics.
- Equity Capital Markets reported strong results despite challenging market conditions. Baird’s Global Investment Banking business achieved its second-best-ever year of revenues, and the firm’s Global Equities team received top marks for its research: Strategas Macro Research was recognized by Institutional Investor and Baird’s Institutional Equities & Research business received top honors in Greenwich Associates’ annual survey of institutional investors and portfolio managers.
- Principal Investments: Baird Capital, the firm’s private equity business which is part of Baird’s Principal Investments group, exited 12 investments realizing $258 million.
“These strong outcomes are founded in our platform of five complementary businesses,” said Booth. “The strategic value of this model proved out once again in 2019. While some of our businesses faced strong headwinds, each performed well and we continued to win market share.”
In February, Baird was named to FORTUNE magazine’s 2020 list of the 100 Best Companies to Work For, ranking No. 13. It was the firm’s 17th consecutive year of being recognized for its commitment to be a great place to work.
Baird has a long tradition of giving back to the communities where its associates live and work. Baird Foundation provides support to many charitable organizations supported by Baird associates, and in 2019 contributed $3.4 million to non-profit organizations, including $1.1 million in associate match contributions. Through the Baird Cares program, associates receive two paid days off each year to volunteer for the charity of their choice. Associates also organize Baird Gives Back Week annually. In 2019, nearly 2,200 associates and family members volunteered more than 7,800 hours to 179 non-profit organizations.
Putting clients first since 1919, Baird is an employee-owned, international wealth management, asset management, investment banking/capital markets, and private equity firm with offices in the United States, Europe and Asia. Baird has approximately 4,600 associates serving the needs of individual, corporate, institutional and municipal clients and more than $305 billion in client assets as of December 31, 2019. Committed to being a great workplace, Baird ranked No. 13 on the 2020 FORTUNE 100 Best Companies to Work For® 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 website at www.rwbaird.com.
For additional information, contact:
Baird Public Relations
1Financial results do not reflect the consolidation of certain private equity partnerships.