Word on the street is that distinguished middle market investment bank, Robert W. Baird & Company has been taking some punches recently. Looks like both the GP solutions and A&D teams left. First A&D team leaves for Evercore (like 15+ heads?) then GP solutions (like half of their nyc office) leaves for Morgan Stanley. Must be hectic over there… at least bonus season will be good.
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Based on the most helpful WSO content, Baird has indeed faced some challenges recently, particularly with significant team departures. The A&D team reportedly moved to Evercore, with over 15 members leaving, and a substantial portion of the GP Solutions team in NYC transitioned to Morgan Stanley. Such large-scale exits can undoubtedly create turbulence within the firm. However, Baird has historically been recognized for its strong middle-market presence and employee-focused policies, such as profit-sharing and long-term wealth creation through stock ownership. While these departures may be a setback, Baird's leadership has previously demonstrated efforts to address challenges and adapt to market dynamics.
Sources: Baird in 2021 - Hours & Comp?, Nomura Greentech Exit Opps, Baird vs William Blair vs Piper Sandler vs Harris Williams, Lazard and Jefferies A&D Groups
Chicago is a prison the keeps the dark forces of evil (Baird/Blair/Lincoln/Gugg MM) at bay.
literally arkham asylum
It sounds like an MD on the GP team left and took a ton of ppl with him.
Great for those analysts.
How does that even work? Does the MD just secretly meet with his favorite juniors or does he / she leave and analyst just ping them if they can join them after it is announced?
0 clue. Not even sure if it’s 100% true. Heard it from a friend who heard it from a friend.
If someone could confirm
I've only seen this happen twice, but typically if an MD "takes people" with him immediately at announcement, it's usually other MDs. The VPs and below quit and join 3-6 months later as more of a handshake deal, as there could be anti-poaching clauses.
Bump
Bump
Baird’s taking hits with those team departures—let’s see how they bounce back.
first the DC team, now this? curious what’s going on there
would be interesting to see where the talent ends up
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