Banking & Finance

First Business Financial Services Inc. the Madison-based parent company of First Business Bank and First Business Bank -Milwaukee, today reported strong fourth quarter and record full year earnings, reflecting successful execution on initiatives to grow loans and in-market deposits, invest in fee-generating capabilities and improve asset quality.

Milwaukee-based Robert W. Baird & Co. Inc. today announced that Jon Langenfeld has been promoted to head of global equities with overall responsibility for Baird’s equity research, sales and trading operations.

Milwaukee-based Northwestern Mutual Life Insurance Co. Inc. announced its 2012 financial results, which include a record dividend payout to policy owners expected to exceed $5 billion in 2013. The company paid $4.97 billion in dividends last year.

Green Bay, Wis.-based Associated Banc-Corp. is consolidating its Chicago operations into one larger office in the West Loop from four other buildings in the market.

The state is now projected to have nearly $1.7 billion in extra revenue to assemble the next two-year budget.

Baird Private Equity, the direct private investment arm of Milwaukee-based Robert W. Baird & Co. Inc., has unveiled an updated strategic brand that includes the new name of Baird Capital.

The preferred stock and subordinated debt positions of Waukesha-based bank holding company Waukesha Bankshares Inc. are being auctioned today as part of the federal Troubled Asset Relief Program’s Capital Purchase Program.

Milwaukee-based marketing agency GMR Marketing plans to merge with San Francisco-based SportsMark Management Group.

Milwaukee-based accounting, tax and business consulting firm Schenck S.C. has acquired most of the practice of Milwaukee CPA firm Bonfield & Company S.C.

Chicago-based Cole Taylor Bank has hired two new employees at its Franklin commercial banking office as part of a southeast Wisconsin expansion.