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Banking Firm to Create Finance Jobs in Boston

Posted on July 26, 2010

Evercore Partners is launching an equity research group, a move that could possibly create finance jobs in Boston.

According to a press release, Evercore Partners Inc. today announced the launch of its equity research group and its plans to initiate coverage of companies in the Telecommunication, Media and Technology, and Financial Institutions industries during the third quarter.

The research group initially is comprised of ten seasoned analysts with deep expertise in the sectors they cover and a balanced perspective developed by working in sell-side research, buy-side firms and in the industries they cover. This experience, together with an ability to provide access to company management, provides the foundation to deliver valuable insights and actionable investment ideas to Evercore’s clients.

Evercore plans to expand coverage strategically, but opportunistically, to include insurance, capital markets, REITS, software, hardware and semiconductors.

“We are excited to announce the core of our equity research team. These senior hires round out our initial hiring plan and put us in a position to deliver the high quality, objective research content we have committed to our institutional clients,” said Charles Myers, Head of Evercore Institutional Equities. “We are now singularly focused on broadening our client relationships and generating investment ideas and insights for these clients.”

“We have assembled an exceptionally high quality team of research analysts that share Evercore’s commitment to deliver independent investment ideas to clients and to provide research coverage of important companies in these two critical sectors. While we expect an initial investment period in the early stages of this business, we anticipate this business will be a meaningful contributor to Evercore’s earnings over time,” said Ralph Schlosstein, Evercore’s President and Chief Executive Officer.

Evercore Partners is a leading independent investment banking firm. Evercore’s Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high quality research, sales and trading execution that is free of proprietary conflicts. Evercore’s Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves a diverse set of clients around the world from its offices in New York, Boston, Houston, Los Angeles, San Francisco, Washington D.C., London, Mexico City and Monterrey, Mexico. More information about Evercore can be found on the Company’s Web site at www.evercore.com.