Fri, 18/01/2013 - 16:00
Employee-owned financial services firm Baird has promoted Steve Booth to the role of chief operating officer.
Booth (pictured) takes on the new role in addition to his current responsibilities as director of investment banking and co-head of Baird's equity capital markets (ECM) business.
The plan calls for Booth to eventually succeed Baird chairman, president and chief executive Paul Purcell.
Like Purcell, Booth joined Baird in 1994. He has led its investment banking efforts and served as co-head of ECM since 2006. Booth is also a member of Baird's board of directors and executive committee and chairs the firm's finance committee.
"The selection of Steve Booth as Baird's COO is the culmination of a very thoughtful and thorough process over the past several years," says Purcell. "Steve's leadership qualities, business acumen and strong knowledge of our businesses make him the best fit for this important role and for helping lead Baird going forward."
"Paul and I have a very strong relationship that goes back more than 20 years," Booth says. "Paul's been a great mentor and friend and I'm excited to partner with him to continue Baird's long tradition of success and to build upon our unique culture and associate-owned model."
Booth will continue leading investment banking and serving as co-head of ECM throughout 2013. Over the course of the year, he will work to transition leadership of investment banking to take effect January, 2014. In addition, in his role as COO Booth will work side-by-side with Purcell to help drive Baird's top strategic business opportunities and to ensure a successful transition over the next few years. Baird's plan calls for Booth to be elevated to the position of president from 1 January 2014 with Purcell continuing as CEO through the end of 2015 and chairman for a few years after that.
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