BD says its private-client assets have grown 70% over the last five years. Baird plans to open Private Wealth Management (PWM) offices in Philadelphia and Baltimore. The Wisconsin-based brokerage, capital-markets and asset-management firm says the moves reinforce its commitment to serving high-net-worth clients in the U.S. Mid-Atlantic region.

Brian McGrath and Howard Goodwin Jr., both formerly with Wachovia Securities, anchor Baird's new Philadelphia office. Ex-Smith Barney broker James Furletti heads the firm's office in Baltimore.

Help wanted

"We are very pleased to welcome Brian, Howdie" -- that's Goodwin's nickname -- "and Jim to Baird, and further solidify our presence in the Mid-Atlantic region," says Baird's chairman, president and CEO Paul Purcell. "This strategic expansion will complement our established operations in the greater Washington, D.C., area, bringing our broad array of services closer to current and prospective clients, and creating additional opportunities for talented professionals interested in joining Baird."

Baird, which has two PWM offices in the Washington, D.C., area, says it plans to open "multiple" PWM offices in and around Philadelphia and Baltimore "over the next few years."

Last month Baird added a four-member team led by former Morgan Stanley district manager Steven Stahlberg to help establish PWM offices in northern California and Nevada.

Baird, which has about 600 advisors, says its private-client assets under management and supervision have grown by 70% over the past five years to approximately $54 billion as of 30 June 2008. Over the past one year it has added teams in Minnetonka, Minn., and Phoenix, Ariz. well as its second metro-D.C. office in Reston, Va. -FWR

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