Veteran Recruiter Chip Walker Leaves Baird After Four Months
Elmer T. “Chip” Walker II, a long-time Wells Fargo Advisors recruiting executive who joined Robert W. Baird & Co. four months ago, has left the regional firm.
Walker officially left Wells as part of a corporate restructuring affecting all parts of scandal-plagued Wells Fargo & Co.
Walker did not respond to a query sent through LinkedIn as to why his term with Baird was so short, and a spokesperson for the Milwaukee-based firm did not return a request for comment.
He left on March 17, according to his BrokerCheck record.
“We’re thrilled to welcome Chip to the Baird family,” Erik Dahlberg, executive director of Baird’s Private Wealth Management business said in a prepared statement announcing Walker’s arrival. “We look forward to watching him thrive.”
Baird, which is employee-owned, has around 1,300 advisors overseeing $215 billion in client assets, and has been seeking to expand despite a relatively low recruiting budget, according to headhunters and former managers at the firm. It has had some recruiting success by emphasizing its broker-centric culture as a differentiator from larger firms.
Earlier this month, Baird lured longtime Wells advisor Lisa Ladds Doche and her two associates to its office in Scottsdale, AZ. Doche, who had been at Wells and predecessor firm Bateman Eichler for 34 years, oversaw $225 million in client assets, Baird said in announcing her arrival. She did not immediately respond to a request for comment on her decision, or whether she knew Walker.
When Walker left Wells, he was director of field strategy and communication, and held other senior recruiting roles. His position was eliminated amid ongoing restructuring and expense cuts at the San Francisco bank, a senior executive told AdvisorHub last year, although two former Wells sources said his departure may have involved high expense reimbursement requests. His BrokerCheck report has no disclosures of corporate, legal or regulatory irregularities.
Walker began his brokerage career in 1992 as an advisor at Wheat First Butcher Singer, one of many regional firms that Wells Advisors and its parent bank acquired.
In 2015, in his role as senior recruiting and branch manager productivity executive, he was a member of Wells Fargo Advisors’ operating committee. He had earlier been a regional sales manager, director of managed accounts and director of best practices and FA integration at the brokerage unit and other Wells affiliates.