Milwaukee-based Baird has tapped two former Wells Fargo managing directors with longtime experience in public finance to expand its Midwest operations.
Former Wells Fargo managing director and head of Midwest public finance Larry Richardson is now managing director in Baird’s Chicago office.
Former Wells Fargo public finance investment banker Paul Rebholz is now managing director in Baird’s St. Paul, Minnesota, public finance office.
Richardson's hire formally establishes a public finance office in Chicago and expands Baird’s presence in the Chicago region, which has been led by long time banker Tom Gavin from the firm's suburban Naperville office.
“Through his extensive banking expertise, Larry has built successful relationships with his clients working on a variety of high-profile municipal projects throughout the country,” said Brian Brewer, director of Baird’s public finance group. “He will be a tremendous asset as we continue to grow and strengthen our public finance presence nationally.”
Richardson, who spent 10 years at Wells Fargo, retired from his position earlier this year. He was among a wave of cuts and retirements after Stratford Shields took over as Wells' head of public finance in November.
At Wells Fargo, Richardson worked with major state and state authority issuers across the country specializing in municipal and structured finance deals. He was involved in over 600 transactions with a par amount in excess of $145 billion, including over $14 billion in senior managed business.
Before Wells Fargo, Richardson spent 15 years at the former A.G. Edwards and Sons Inc. He also served as the director of economic development with the City of St. Louis Economic Development Corp. and as a program coordinator with the Illinois Development Finance Authority.
Rebholz, a veteran public finance banker, brings more than 30 years of experience to Baird. At Wells Fargo, he worked with state housing finance agencies, state revolving funds, airports, cities, states, and higher education institutions throughout the Midwest for 10 years.
Brewer said that Rebholz’s banking expertise with projects including housing, state revolving funds, transportation and higher education, especially in the Midwest, will be a tremendous asset.
Baird's public finance group has more than 70 professionals including about 25 banking and advisory specialists in 15 offices in Colorado, Illinois, North Carolina, Michigan, Minnesota, Ohio, Pennsylvania, Texas, and Wisconsin. In February the firm announced the hire of Brewer to “enhance and grow” the public finance platform.
“There are great opportunities in the municipal finance business, and Baird is committed to growing and diversifying our platform through recruiting talented and seasoned bankers to best serve municipal clients across the country,” said Brewer.
