Evercore expands in Europe--quickly

Evercore made waves when it went public last August, one in a long line of boutiques that are benefiting from the a rising tide of mergers activity. But last month, it warned it might make a loss for the first quarter. The reason isn't core market conditions but rather a punishing expansion environment. Evercore said it was expecting to hire as many as 10 senior executives to bolster growth. Some of that growth is apparently expected in Europe. The European arm will likely hire up to 20 bankers. In the past six months, they have recruited three bankers from JP Morgan Cazenove. You have to wonder what other boutiques are doing. My guess is they would like to tap the growth wave as well. Overall, it's a great time to be a banker, though the wave maybe cresting as we speak.

For more:
- here's the article from Financial News Online

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