In an effort to centralize its existing equity and fixed-income investment banking operations and increase its overall revenue and market share, Memphis-based ­Morgan Keegan & Co. has announced the formation of a new, broader investment banking division to be headed by 31-year company veteran Robert A. Baird.

Baird joined the firm in 1979 as one of its first investment bankers. He took the helm as president of the new division on Monday, the company announced yesterday.

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