Milwaukee-based Baird Private Wealth Management continues to sweep up unhappy wirehouse branch managers.
The firm announced today that it had recruited Dennis Rowland, who spent over 16 years at Smith Barney and was the branch manager for the firm’s St. Paul and Duluth, Minn., offices. In that role, he oversaw 29 advisors generating a combined $14 million in revenue.
At Baird, Rowland will be in charge of establishing a new branch in St Paul, Minn. He will be a producing branch manager.
“With his deep industry knowledge and appreciation for Baird’s unique culture, (Rowland) is well suited to recruit other talented and committed financial professionals and expand the firm’s presence in the Twin Cities,” said Erik Dahlberg, a regional director for Baird. Baird currently has two other offices in the Twin Cities area.
Wirehouse branch managers have faced big challenges over the past year, as major firms continue the shift to a complex management system, with one manager overseeing multiple branches. This has forced some former branch managers back into production.