Evercore is comfortably the leader among the independent advisory firms, but its performance in the pandemic year also showed that it is a real competitor to the bulge bracket banks – and without the balance sheet that they have to wield. This year it wins Euromoney’s award for North America’s best bank for advisory.
In the last four quarters Evercore’s advisory revenues rose 13% to $1.9 billion. More impressively, its league table position for completed M&A deals with North American involvement in the period rose to fourth, with a market share of close to 21%. That ranking is up from sixth in the previous 12 months and is a substantial increase from its typical position of closer to eighth.
For Tim LaLonde, Evercore’s lead operating partner and co-head of US advisory, the success the firm saw during the pandemic year is the culmination of a longstanding evolution of its approach.
“We had been planting the seeds for a moment like this, quietly transforming the firm over the last three to five years by positioning ourselves to advise clients in a broader range of situations,” he says.