Baird saw its net revenues climb nearly $1.1 billion in 2021, led by a 149% increase from its equity capital markets teams.
The Milwaukee-based firm had $3.41 billion, including $1.28 billion for the equity capital markets group. Within the equity markets teams, investment banking more than tripled revenues and completed more than 400 financing and advisory transactions, Steve Booth, chairman, president and chief executive officer of Baird, said in his annual report message.
Baird’s revenue first crossed $2 billion in 2019 and the firm has more than doubled its revenue from 2017 of $1.53 billion. Profits are up too, with operating income of $609 million last year, compared to $360 million in 2020.