Milwaukee-based Robert W. Baird & Co. Inc.’s 2018 revenue was $1.8 billion in 2018, up 16% from $1.5 billion in 2017.
The private, employee-owned global wealth management, asset management, investment banking/capital markets and private equity firm today announced its 2018 results. Baird’s operating income also increased significantly, to $244 million, up 22% from $199 million in 2017.
In 2017, Baird saw a 10% revenue increase from the prior year. In 2018, the company gave out $5 million in bonuses to employees as a result of its savings from federal tax reform.
Baird now has $208 billion in assets in client accounts. Its wealth management division had $137 billion in assets under management as of Dec. 31, 2018. Baird’s private equity business exited eight investments in 2018, gaining a return of $121.9 million, and invested $136 million in five new and follow-on investments. Baird Capital, which has 58 active portfolio companies, in 2017 raised $310 million for private equity investments, and this year Baird Venture Partners has been working to raise a $185 million venture capital fund.
In September 2018, Baird acquired New Hartford, New York-based wealth management firm M. Griffith Investment Services Inc. In April 2019, Baird completed its acquisition of Louisville, Kentucky-based wealth management, trust and estate planning firm Hilliard Lyons and Hilliard Lyons Trust Co.
The company has about 3,600 employees at offices in the U.S., Europe and Asia.
“Baird’s strong financial results demonstrate more than the strength of our balanced business platform – they speak to the strength of our team and our culture,” said Steve Booth, president and chief executive officer of Baird. “Our focus on providing quality advice and service to our clients as well as managing our business for the long term resulted in another year of strong business outcomes and record strategic progress.”
