Economic Development

Milwaukee-based Robert W. Baird & Co. Inc. launched the Baird Small Cap Value Fund.

Robert W. Baird & Co. Inc. saw record results in some areas of its business last year, including equity capital markets, asset management and private wealth management.

First-time unemployment claims fell nationally last week for the first time in a month to just slightly above a four-year low, according to the latest data from the U.S. Department of Labor.

Associated Bank hires five new leaders

Milwaukee-based Harley-Davidson Inc. reported first quarter net income of $172.0 million, or 74 cents per share, up from $119.3 million, or 51 cents per share, in the same period a year ago.

Growth in mining, strong replacement demand for products in the United States and a continued focus on cost management helped Caterpillar Inc. deliver record quarterly profits of$1.6 billion, or $2.37 per share in the first quarter, up from $1.2 billion, or $1.84 per share, in the same period a year ago.

First Business Financial Services Inc., the Madison-based parent company of First Business Bank and First Business Bank-Milwaukee, reported first quarter net income of $2.2 million, or 84 cents per share, up from $1.3 million, or 52 cents per share, in the same period a year ago.

Milwaukee-based Robert W. Baird & Co. Inc. posted record revenues of $925 million in 2011, up 9 percent from 2010, according to the company's annual report.

PLC Holding of France has acquired Wisconsin Oven Corp., an East Troy-based manufacturer of industrial ovens for the aerospace, automotive, composite and finishing industries.

The PNC Financial Services Group Inc. announced that its board of directors has elected William Demchak to be president of the corporation and its principal banking subsidiary, PNC Bank, National Association.