London - Baird, an employee-owned, international investment banking, private equity, wealth, and asset management firm, has announced that David Silver will succeed John Fordham as Head of European Investment Banking (EUIB) and Fordham will transition to the newly created position of Chairman of Baird International.
Silver will oversee all of EUIB in addition to his current role leading the firm’s Business Services banking practice in Europe. Fordham will work across the firm, further developing the firm’s presence globally, extending Baird’s platform to additional international clients and exploring opportunities in new geographies across the globe.
The leadership changes, which will take full effect January 1, 2012, are a part of Baird’s broader efforts to continue its mission to be the premier middle market M&A and corporate finance adviser to private equity firms, corporates and entrepreneurs within its chosen sectors.
Baird has made significant investments to its Investment Banking business over the past few years, doubling the number of bankers and locations since 2005 to include offices in new countries such as China. With the additional expertise and reach, the firm’s global M&A advisory business has seen tremendous growth. Since 2005, Baird has served as an advisor on 103 cross border/international M&A deals – 36% of Baird’s total M&A deals in that time.
'Baird’s European banking team has been a key contributor to the business’ overall growth and success over the past several years, giving us tremendous momentum', said Steve Booth, Co-Head of Global Equity Capital Markets and Director of Baird Investment Banking. 'David’s leadership will allow us to continue that growth and John’s new role will help us extend our platform to other areas of the globe'.
In 2010, the number of Baird M&A deals was up more than 170 percent compared to the prior year, with a total value of more than $26 billion. 2011 YTD, Baird has completed 48 M&A transactions, on its way to surpassing the 51 deals completed in 2010.
'Baird’s ability to access global buyers and sellers has been a key component of our success', said Booth. 'By leveraging our single, global P&L and using other techniques to foster a high level of teamwork and innovation, we’ve achieved great outcomes for our clients and positioned the firm very well for the future'.
Baird weathered the downturn well, expanding its global footprint and adding talent as others in the industry retrenched. Since 2008 the firm:
• Grew its global headcount by more than 15% while the rest of the U.S. securities industry declined by more 6%;
• Added new Energy and Clean Technology sectors to its Equity Capital Markets platform;
• Launched Baird Capital Partners Asia (BCPA) to complement the firm’s U.S.-based venture and U.S. and European – based buyout funds;
• Increased Research coverage by nearly 20% - Baird expects to cover 700 companies by the end of 2011; and
• Hired more than 200 wealth management associates and opened 24 new offices across the United States.
Joined Baird in September 2000 and has worked in the financial services industry for more than 30 years. Immediately before joining Baird, he was the London corporate finance partner for William Blair. Previously, he served as a Managing Director and head of European Investment Banking at Alex. Brown from 1993 to 1998, and was a Managing Director and head of mergers and acquisitions at Hill Samuel Bank, where he worked from 1981 to 1991. Since the early 1980s, John’s principal focus has been cross-border acquisitions between the United States and Europe.
Joined Baird as an Associate in 1998 and leads Baird's Business Services effort in Europe. He is a founding member of Baird’s M&A team in Europe and has extensive experience advising private equity clients, corporations and entrepreneurs in the United States and Europe within the industrial and business services sectors. Before joining Baird, David practiced as a corporate and banking lawyer at Berwin Leighton. He earned an MBA with distinction from London Business School and a law degree from Leeds University.