Baird reports more than $1B in ’13 revenue

Special to The Freeman

April 7, 2014

MILWAUKEE – Robert W. Baird & Co. Inc. on Monday reported net revenues of $1.1 billion in 2013, up 11 percent from $961 million in 2012.

The Milwaukee-based company said its operating income was $117 million, up 17 percent from the year before. Assets under management increased by $17 billion, to $117 billion at the end of 2013, and return on equity was up 15 percent, according to the company.

This marks the fourth straight year of record revenues for the company, which specializes in global wealth management, capital markets, private equity and asset management.

“Baird’s record financial results and the milestones we surpassed in 2013 are the result of client-focused, strategic initiatives over a number of years to consistently expand our capabilities in each of our businesses,” said Paul Purcell, Baird chairman and chief executive officer. “Our strong performance is meaningful to us because it reflects the trust our clients place in us to provide them with expert advice that is in their best interests.”

Robert W. Baird & Co.’s asset management division grew 15 percent to $22.7 billion. In addition, the private wealth management division expanded its branch network to 75 offices and more than 725 financial advisors.