Welsh, who has more than 25 years of industry experience, is set to oversee the branch as a non-producing manager, according to Baird. According to the firm, his main focus will be on recruiting advisors and building up Baird's wealth-management presence in the Bay Area.
Baird has six offices in the Bay Area/Northern California region - two equity and fixed-income capital markets offices in San Francisco, an investment bank
"I'm very excited to continue my career at Baird," said Welsh in a press release. "I was attracted to the firm by the caliber and sincerity of the people and the pride in being a part of an independent, employee-owned firm. I also was impressed by the firm's commitment to the Bay Area..."
For the past three years, Welsh was a regional sales manager for Wells Fargo Private Bank in San Francisco. Before that, he managed Bear Stearns & Co's Private Client Services office in San Francisco.
He also spent 20 years with Lehman Brothers, where he held a number ing office in Palo Alto and three wealth management offices in the greater Sacramento area.
of senior management roles in New York and San Francisco, including work as a regional manager for Lehman's private-client business in the western U.S.
"We are pleased to welcome Bill to Baird and continue our growth in California and the Bay Area," said Michael J. Schroeder, president of Baird Private Wealth Management, in a press release.
"Bill is a tremendous addition to our Private Wealth Management branch management team and to Baird," explained Steve Stahlberg, a managing and regional director for Baird in a statement. "With his institutional and wealth management background, he is a good match for Baird and its five complementary businesses."
The firm's private wealth management business added more than 100 FAs in 2009 - the vast majority from the four wirehouses. Its advisors had some $58 billion in assets under management as of March 31, 2010.