Robert W. Baird & Co. Inc.’s fixed income asset management division, Baird Advisors, has signed a deal in which it will directly advise clients of Dearborn Partners LLC.
Baird Advisors has sub-advised the clients for the last 13 years, but will begin a direct relationship beginning September 30.
Chicago-based Dearborn is an institutional and private client asset manager. Jeffrey Simmons, CFA and Cal Pedersen, CFA, and other Dearborn employees will work for Baird under the new agreement.
Simmons has been named managing director, Adrianne Limjoco has been named vice president and marketing specialist and Erika Haska has been hired as a portfolio management specialist. They will work out of Baird’s Chicago office.
“In the coming weeks, Baird Advisors will directly serve as investment advisor to clients we have worked with for many years,” said Mary Ellen Stanek, managing director and chief investment officer at Baird Advisors. “At the same time, we add an experienced team who will continue to work with these same clients. Jeff, Cal and their team will also help us expand our institutional presence.”
Pedersen and Steve Hurlbert will serve as consultants to Baird while maintaining their current positions at Dearborn.
“We’ve worked alongside the Baird Advisors team and know it is a great fit given our shared fixed income focus and commitment to excellent results,” Simmons said. “The same investment management and servicing team will now provide top flight service from the same firm.”