Robert W. Baird & Co. Inc. will retain its name and its Milwaukee headquarters when it acquires Seattle-based investment firm McAdams Wright Ragen Inc.
The merged company will keep the Baird name, and the MWR name will be integrated into the Baird brand, according to John Rumpf, director of corporate communications at Baird.
As for the impact of the acquisition on its Milwaukee operations, Rumpf said, “Baird’s Milwaukee footprint has continued to grow, and we have a variety of open positions available at our Milwaukee headquarters.”
Rumpf said, “No Baird jobs will be impacted” by the merger. “Working closely with MWR leadership, we will be going through a very thoughtful process to determine our future business/staffing needs,” he said.
Rumpf said, “MWR’s management is working closely with us on the integration of our two firms.”
McAdams Wright Ragen has 180 employees and offers investment advisory, brokerage, equity research, bond and equity trading, asset management, institutional sales and investment banking. The company has seven offices in the Pacific Northwest and manages more than $10 billion in assets. It reported 2013 revenues of $48 million.
Baird, a global wealth management, capital markets, private equity and asset management firm, reported a record $1.1 billion in 2013 revenues. It has more than 2,900 employees at more than 100 locations worldwide. It manages more than $100 billion in assets.
Financial terms of the acquisition were not disclosed.
McAdams Wright Ragen is a majority employee-owned firm, which meshes with Baird’s employee-owned model. Baird’s existing Pacific Northwest presence is a Portland, Ore. operation that offers wealth management, public finance and fixed income institutional sales.
“McAdams Wright Ragen is a well-established and highly respected firm with a business model and client-focused culture that are very consistent with Baird’s approach,” said Paul Purcell, Baird chairman and chief executive officer.