Employee-owned Robert W. Baird & Co. Inc. announced today it posted record net revenues of $961 million in 2012, up from $925 million in 2011.
The 2012 results mark the Milwaukee-based international financial services firm’s third consecutive year of record revenues. Baird’s operating income also rose to $100 million and the firm’s 2012 return on equity rose to nearly 13 percent.
“Our strong financial performance is only possible because of the strong partnerships we have with our clients,” said Paul Purcell, chairman, president and chief executive officer of Baird. “Our commitment to providing the best financial advice and service to our clients and our employee-owned business model play a crucial role in our ongoing success.”
In recent years, Baird has made substantial investments in its business in order to meet its long-term objective of becoming the leading middle-market financial services firm in the world. Since the beginning of 2008, Baird’s employment has increased 22 percent, while employment in the U.S. securities industry decreased by more than 4 percent.
In 2012, Baird expanded in the following areas:
- Private Wealth Management opened new offices in Florida and Maine and continued to hire veteran Financial Advisors across the country. Baird now has nearly 700 Financial Advisors with an average of 19 years of industry experience.
- Asset Management, which added a small- and mid-cap value team at the end of 2011, continued to expand its assets under management.
- Investment Banking expanded its global platform, adding senior bankers, deepening its capabilities across most industry sectors and establishing access to resources in India and Japan.
- Public Finance launched a major initiative to serve the Texas market with new offices and bankers in Austin, Dallas and San Antonio.
- Client assets at Baird grew 14 percent during 2012 and totaled nearly $100 billion at year end.
“As an independent and employee-owned firm, we have the freedom and flexibility to strengthen our business and our relationships, even during challenging markets,” said Steve Booth, Baird chief operating officer and director of investment banking. “This has enabled us to establish an exceptional team and a powerful franchise that can compete at the highest level – all while serving the best long-term interest of our clients.”