Evercore Partners

H-P deal pushes JPMorgan to top of table

Thu, 15 May 2008 06:59:58 -0400

After the Microsoft-Yahoo nondeal rewrote the league tables for the year, here comes another big technology deal with big implications for the standings. The New York Times notes that JPMorgan Chase, by dint of its role in advising Hewlett-Packard in its $13.3 billion takeover of EDS, has inched to the top of the table. It edged out Goldman Sachs, which might have stayed on top if its client had Yahoo ended up in a deal. Don't be surprised if Goldman ends up back on top. One big deal would do the trick. Still, this is rare air for JPMorgan and yet another feather in the cap of Jamie Dimon. Hewlett also retained Lehman Brothers, while Electronic Data hired Citigroup and Evercore Partners, the Times notes.

For more:
- here's the article from the New York Times

Evercore expands in Europe--quickly

Mon, 11 Jun 2007 20:01:37 -0400

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

Related Articles:
Evercore aims to make a bigger splash. Report
Successful Evercore offering generating excitement. Report
Evercore Partners on a roll, others stumble. Report

C&L: Jefferies Chief Financial Officer Joseph Schenk to step down

Tue, 05 Jun 2007 20:01:31 -0400

Francois Maisonrouge and Mark Vander Ploeg join Evercore Partners.

Jefferies Chief Financial Officer Joseph Schenk to step down.

Bank of America names Thomas White head of global markets.

Daniel Bukowski named Director of Quantitative Research at Calamos.

Edmond Alphandéry to join Lehman's advisory board.

James Nappo re-hired by Credit Suisse.

Evercore aims to make a bigger splash

Wed, 30 May 2007 20:01:34 -0400

Boutique investment bank Evercore Partners really wants to make a splash in the deal world. Evercore's co-chairman and co-CEO Roger Altman says the bank aims to hire about 10 more senior bankers this year, bankers of the big-name variety. That's a lot for a firm that has just 16 such "producing partners" on its roster currently. The latest hire was a big one: Mark Vander Ploeg, a veteran of Merrill Lynch, where he was vice chairman and co-head of consumer, retail, gaming, leisure and transportation. There are rumors that Evercore is pursuing George Young, a star telecom banker who left Lehman Brothers earlier this year. I'm sure the firm is handing out lots of equity. The bank is also betting there's a lot of legs left in the current deal rally. We'll likely see more big announcements.

For more:
- here's the Investment Dealers' Digest article (for FierceFinance readers)

Wall Street gearing up already for elections

Tue, 27 Mar 2007 20:01:36 -0400

Business Week notes that Evercore Partners hosted Senator Hillary Clinton's economic advisers, which include Evercore Chairman Roger Altman. The event also drew the the likes of Steven Rattner, of Quadrangle Group; Blair Effron of Centerview Partners; and Stanley Schuman of Allen & Co. So the game is underway. Bear Stearns has invited top candidates to its headquarters for a meet-and-greet with managing directors. They'll be coming over the next several weeks. There are a lot of issues that Wall Street cares about, from Sarbanes-Oxley (check out FierceSarbox) to free trade to hedge fund registration to mutual fund board issues. There's also a lot of money so all the candidates are going to have to pay attention.

For more:
- here's the article Business Week

Altman has Evercore humming

Tue, 23 Jan 2007 19:01:34 -0500

As if we needed more confirmation that boutiques have found some lucrative niches on Wall Street. Roger Altman, chairman and co-CEO of Evercore Partners, has worked some palpable magic at the boutique. Evercore completed its best year ever in 2006, advising on $197 billion in global deals, including the largest deal of the year, AT&T's $90 billion acquisition of BellSouth. Evercore has also brought in some M&A heavyweights, boosted its restructuring business and expanded in Europe, Asia and Latin America. On top of all that, Evercore went public, raising $84 million. Its stock rose 18 percent on the first trading day. It has been rising ever since. The good news is that Evercore is not a one-man show. Lots of banker are bringing in business.

For more:
- here's an Investment Dealers' Digest article (For FierceFinance readers)

C&L: Bear Stearns names Michael Goldstein to board

Tue, 16 Jan 2007 19:01:31 -0500

AMVESCAP names Mark Armour to run institutional business. Article

KeyCorp hires Robert R. Lane as Central Ohio president. Article

Bear Stearns names Michael Goldstein to board. Article

SunTrust announces promotions in Sports and Entertainment Banking Group. Article

Wachovia Securities names Dorian Hansen Director of Banking Services. Article

Evercore Partners appoints James R. Matthews as Co-Head of Private Equity Group. Article

SPOTLIGHT: Evercore Partners

Wed, 08 Nov 2006 19:01:32 -0500

Are boutiques all the rage still? Judging from the results of Evercore Partners, the answer seems to be yes. It posted earnings of 43 cents a share vs. the average estimate of 18 cents. Wow. Release

Evercore Partners on a roll, others stumble

Thu, 19 Oct 2006 20:01:35 -0400

Not all boutiques are created equal. As the number of these niche investment banks proliferate, we'll start to see more performance differences. One recent winner seems to be Evercore Partners, which has advised AT&T in its deal with BellSouth and General Motors on the sale of GMAC and others. Its stock has fared well over the past few months. The problem is that even a strong deal environment may not support heady growth at all boutiques. At Evercore, more than half of revenue flow came from five clients over the past two years. Strong advisory work doesn't guarantee good results, however. Consider Greenhill & Co: It just missed estimates thanks to weaker merchant banking revenue.

For more on boutiques:
- Here's an article about Evercore from Investor's Business Daily
- Here's an article about Greenhill & Co. from the AP

Greenhill results good news for boutiques

Thu, 27 Jul 2006 20:01:38 -0400

Greenhill posted earnings of 45 cents a share, soundly beating the 38 cents that analysts were predicting on average. That's good news for the crop of boutiques that are either trading publicly or aim to do so within the year. Clearly, you can't blanket all boutiques with generalities. There are going to be some winners. So perhaps the likes of Evercore Partners and Keefe Bruyette & Woods can rest a bit easier now. And maybe Ryan, Beck will re-ignite its IPO plans. Maybe?

> Here's an article on Greenhill from MarketWatch.