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
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.