While London-based banks trim M&A juniors and keep tabs on what their senior staff are doing, boutiques are still hiring. One boutique in particular is doing some biggish recruitment in the City: Evercore.
In the two months since August, the Financial Conduct Authority (FCA) Register shows Evercore adding 18 registered staff in London, increasing its headcount by 10% in the process. No registered staff left over this period.
Evercore’s hires include this year’s intake of juniors, as well as mid-ranking and more senior staff. Roger Lightwood joined as a restructuring analyst after two years at Perella Weinberg. Lucy Wilde joined as a vice president in equity advisory after three years at Rothschild, two years at Ondra Partners and two years at Barclays Capital. Cyrille Cotte joined as an MD in the FIG Group after six years at Citi. Anand Sethia joined as an associate after two years at UBS. The list goes on…
What makes Evercore so bullish? The firm’s website says they’re growing in, “all practice areas in which we operate” and that the “global expansion continues.” As we reported a few weeks ago, Evercore has been building its presence in Germany. It also has offices in Madrid and Aberdeen.
Released today, Evercore’s third quarter results suggest it has reason to be optimistic. In the first nine months of 2016, revenues rose 22% and profits rose 49%. Unlike investment banks, where compensation nowadays is rarely higher than 40% of revenues, Evercore paid 57% of its revenues this year to its employees, rising to 66% in its investment bank (it also has an investment management arm).