Baird has reported record revenues of $1.1 billion for 2013, up 11% from $961 million in 2012.
Annual operating income at the Milwaukee-based wealth manager rose as well to $117 billion, a 17% increase year-to-year and surpassing the firms previous record of $105 million, set in 2007. Following the financial crisis, Bairds operating income dropped to $62 million in 2009, but has since climbed back.
Bairds 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, Paul E. Purcell, Baird Chairman & CEO, declared in a statement.
While revenues and income have hit record highs, so has the firms workforce. The number of Baird employees has risen from 2,458 in 2009 to 2,935 in 2013, a 20% increase.
In line with this, Bairds advisor ranks have also grown, swelling to 727 in 2013 from 698 for the prior year. The firm has continued its recruiting spree into 2014, recently bringing on Joseph H. McAuley Jr. to become Bairds newest branch manager, its twelfth recruitment so far this year.
At Baird, McAuley will oversee an eleven-member advisor team, including the teams former branch manager Charles Knowlton Jr., who will continue to work as financial advisor in Charleston, according to a Baird spokesman.
McAuley, a graduate of the University of South Carolina, has worked in the financial services industry since 1997, according to FINRA documents. He started with A.G. Edwards & Sons and remained with the firm through its mergers with Wachovia and Wells Fargo.
With more than 15 years of industry experience in the Carolinas, his proven leadership ability and a strong commitment to excellent client service, Jody is well-positioned to manage our Charleston office, stated Bill Johnson, regional director for Bairds private wealth management group.