Employee-owned financial services firm Baird has promoted Steve Booth to president effective 1 January 2014.
Booth (pictured) is the eighth president since the firm's founding in 1919.
Booth takes on the new role of president in addition to his current responsibilities as chief operating officer and co-head of Baird's equity capital markets (ECM) business.
Booth became COO in 2013 as part of a plan that calls for him to succeed Baird chairman and chief executive officer Paul Purcell and become CEO in January 2016.
Effective 1 January, Booth has also transitioned leadership of global investment banking to two veteran Baird bankers, Brian Doyal and Brian McDonagh. He will continue to work closely with Doyal and McDonagh to ensure a seamless transition.
Purcell and Booth both joined Baird in 1994. Booth has led Baird's investment banking efforts and served as co-head of ECM since 2006. He is also a member of Baird's board of directors and executive committee and chairs the firm's finance committee.
"Steve and I have a very strong relationship that goes back more than 20 years," Purcell says. "I couldn't be prouder of what our employee-owned firm has accomplished so far and I'm confident Steve can help take Baird even further."
Booth is working side-by-side with Purcell to ensure a successful transition over the next few years.
"Baird has a strong and differentiated franchise," Booth says. "I'm honoured to have the opportunity to follow Baird's legacy of extraordinary leaders and continue our commitment to our core values of unflinching integrity and client focus."