Baird has introduced an institutional portfolio strategy research and hired a former Morgan Stanley executive to run it.

The Milwaukee-based company announced Tuesday it hired Brian Rauscher as a chief portfolio strategiest to run the new group . Rauscher will work with Baird’s institutional equities team to develop and market equity portfolio strategies to institutional clients. 

Rauscher’s product is a differentiated, systematic framework that combines fundamental factors, price momentum, traditional macro indicators, and proprietary data analytics to provide equity portfolio strategies at the sector and sub-industry levels.

An 18-year industry veteran, Rauscher’s work experience includes Morgan Stanley, Brown Brothers Harriman, and Fortress Investment Group. He most recently was the chief portfolio strategist at Wedge Partners. 

Rauscher’s addition underscores the continued growth of Baird’s institutional equities and research business, which delivers research, sales and trading expertise to domestic and international institutions. Last year, the group posted its 17th consecutive year of record revenues and grew overall trading volume by 9%. 

Baird, an employee-owned, international wealth management, capital markets, private equity and asset management firm, research analysts cover more than 670 stocks, an increase of 33% over the past five years, and the firm said that it expects continued research growth this year.

Baird oversees and manages more than $94 billion of client assets.