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Baird Ramps Up Midwest Coverage With Seven New Advisors
Harriet Davies
29 June 2011
Robert W Baird & Co has brought in seven new advisors to its Private Wealth Management group in the Midwest, hiring from Morgan Stanley Smith Barney and Wells Fargo, On Wall Street reports. Collectively the new hires had some $420 million in assets under management, and will be based in Ohio, South Dakota and Wisconsin, according to the report. Joining in Cleveland, Ohio is John Diemer from MSSB as a vice president; he had $525,000 in annual fees and commissions and $110 million in assets under management at his former firm. In Columbus, Ohio, Baird has reportedly added two members of the Schwarz group at MSSB, hiring David Schwarz as a senior vice president and Matthew Bruner. The duo previously had $840,000 in annual production and $100 million in assets under management. In Wisconsin meanwhile the wealth manager has ramped up its team with the addition of Phyllis Lovrien in Madison and Jim Ritchay in Green Bay. Both latterly worked at MSSB and have been appointed as VPs, the publication reports. Lovrien had $300,000 in annual fees and commissions and $40 million in AuM, while Ritchay had $505,000 in annual production and $100 million in AuM. Coming to Baird from Wells Fargo Advisors are two members of the Howard group: Mary Howard, who has been appointed as a senior vice president, and William Perry. At Wells Fargo they reportedly had $625,000 in annual fees and commissions and $70 million in AuM. Earlier this month Baird bolstered its San Francisco wealth management office with the hiring of financial advisors Jonathan Fitzgibbons, managing director, and Joyce Linker, senior vice president. Both joined from ThinkEquity, where they had worked for several years, overseeing a combined $300 million in assets and generating nearly $2 million in annual production.