Milwaukee-based Baird, an employee-owned wealth management, capital markets, private equity and asset management firm, has hired a new managing director for its private wealth management group.

Denise Wypiszenski has been made chief operating officer of Baird Private Wealth Management group and will join as one of the firm’s managing directors. Reporting to Michael Schroeder, director of Private Wealth Management at Baird, Ms Wypiszenski will work out of the company’s Milwaukee and Chicago offices.

Prior to this appointment, Ms Wypiszenski was director and chief operating officer of the Morgan Stanley Smith Barney, western division.

“Denise is a tremendous addition to our Private Wealth Management leadership team and to Baird. Her wealth of experience and deep industry knowledge make her an ideal fit given our ongoing commitment to be the best financial partner with our clients and our continued growth,” said Mr Schroeder.

Ms Wypiszenski will also support the firm’s financial advisors and branch offices, participating in Baird’s ongoing recruitment of experienced financial advisors. Since the beginning of 2009, Baird has hired an extra 100 advisors and have opened several new offices across in California, Minnesota and Philadelphia - with plans for further expansion to San Francisco and Nevada.

“Although the last year has presented its challenges, it also has provided some of the best opportunities to make long-term investments in our business,” said Paul Purcell, Baird chairman, president and CEO.