INDIANAPOLIS - Kentucky-based Hilliard Lyons and Hilliard Lyons Trust Company, including its 11 Indiana locations, have become wholly owned subsidiaries of Baird. Terms of the deal were not disclosed. 

The employee-owned company also focuses on private equity, wealth management, asset management, and investment banking and capital markets. 

Hilliard Lyons’ leadership will continue in their roles, working closely with Baird’s Private Wealth Management leadership team to create a smooth transition for the firm and its clients. The deal was announced in November and closed this week. 

 “As the past few months have confirmed, Baird is a great fit for our clients and the Hilliard Lyons team on every level,” said Jim Allen, chairman and chief executive officer of Hilliard Lyons. “We couldn’t be more pleased to celebrate bringing our two great firms together.” After the merger is completed in the second half of 2019, Allen will serve as a Vice Chairman of Baird and a member of Baird’s Executive Committee out of Louisville.