Evercore Wealth Management

Evercore Wealth Management, LLC is the wealth management division of Evercore, a global independent investment advisory based in New York City. The firm is a registered investment advisor, delivering customized investment management, financial planning, trust and custody services to high net worth individuals, families and related institutions across the United States. As of March 31, 2019, the firm manages US$8.1 billion in client assets.[1]

Evercore Wealth Management, LLC
TypeFinancial Services
IndustryFinancial Services
Founded2008
FounderJeff Maurer
Headquarters
New York, New York, San Francisco, California, Tampa, Florida, Palm Beach, Florida & Minneapolis, Minnesota
,
United States
Number of employees
91
ParentEvercore, (NYSE: EVR)
SubsidiariesEvercore Trust Company, N.A.
Websiteevercorewealthmanagement.com

History

The firm was founded in 2008[2] by Roger Altman, founder of Evercore, and Jeff Maurer, former chief executive officer of U.S. Trust. Maurer was accompanied by 17 of his former colleagues at U.S. Trust who left the company after it was sold by the Charles Schwab Corporation to the Bank of America in 2006.[3]

As of December 31, 2019, Evercore Wealth Management had 91 partners and other employees, offices in New York City, San Francisco, Los Angeles, Tampa, Minneapolis, and Palm Beach, and US$9.1 billion in client assets under management.[1][4][5]

Personal trust services are provided through Evercore Trust Company, N.A, a Delaware-based national trust bank.[6]

In 2019, Chris Zander was appointed President of Evercore Wealth Management and Evercore Trust Company, N.A., reporting to CEO Maurer.[7]

As of January 2, 2020, Zander succeeded Maurer as CEO, while Maurer remained as Chairman.[8]

Acquisitions and expansions

On May 4, 2010, the firm completed the acquisition of Morse, Williams and Company, Inc., a registered investment advisor. In a related transaction, the firm acquired The Wall Street Fund, "WALLX", a mutual fund launched on December 23, 1945.[9] The name of the fund was subsequently changed to The Evercore Equity Fund, "EWMCX".

In 2011, the firm opened an office in Minneapolis, Minnesota.[10] Six former advisors of a local business unit owned by Wells Fargo left and joined Evercore as partners.

On November 7, 2012, the firm announced its acquisition of Mt. Eden Investment Advisors, a San Francisco-based wealth management firm. The latter firm had US$645 million in client assets. Its acquisition was complete on December 28 of the same year.[11]

On April 7, 2013, Evercore Wealth Management opened a new office in Tampa, Florida - its first in the state - and named three new partners. This move is intended to increase the firm's service for clients in Florida and the southeast United States.[12]

On February 11, 2016, the firm announced the opening of the Evercore Trust Company of Delaware in Wilmington, Delaware, citing the state's "tax and regulatory environment" as "an attractive jurisdiction for many of our clients".[13]

On August 14, 2018, a new office opened in Palm Beach, Florida.[14]

References
  1. "Evercore Reports First Quarter 2019 Results; Increases Quarterly Dividend To $0.58 Per Share". PR Newswire. August 14, 2018.
  2. Farrell, Greg (November 12, 2008). "Evercore launches wealth management division".
  3. Brooke Southall (8 April 2010). "Evercore is looking to its future after lifting out a huge team of U.S. Trust financial advisors". RIA Biz. RIABiz LLC. Retrieved 20 August 2012.
  4. "Evercore Wealth Management Appoints Jill Faherty Lloyd as Financial Advisor - New York Times". markets.on.nytimes.com. Retrieved 2017-01-19.
  5. Evercore Inc. (December 31, 2019). "ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934".
  6. Company, Special Fiduciary - Evercore Trust. "Evercore Trust Company | Independent Fiduciary and Trustee Services". www.evercoretrustcompany.com. Retrieved 2017-01-19.
  7. "Chris Zander Named President of Evercore Wealth Management". February 11, 2019.
  8. "Chris Zander Named CEO of Evercore Wealth Management; Jeff Maurer Named Chairman". www.businesswire.com. 2019-12-04. Retrieved 2020-01-29.
  9. "Evercore Wealth Management Completes Acquisition of Investment Firm Morse Williams | Business Wire". www.businesswire.com. Retrieved 2017-01-19.
  10. St. Anthony, Neal (February 21, 2015). "On managing wealth, connecting with clients: Martha Pomerantz". Minneapolis Star Tribune.
  11. "Evercore Wealth Management Completes Acquisition of Mt. Eden Investment Advisors | Evercore". www.evercorewealthmanagement.com. Retrieved 2017-01-21.
  12. Evercore Wealth Management Expands to Florida, Names Three New Partners
  13. "Evercore Trust opens today in Wilmington - Delaware Business Times". Delaware Business Times. 2016-02-11. Retrieved 2017-01-19.
  14. "Evercore Wealth Management Expands to Palm Beach". PR Newswire. August 14, 2018.

Notes
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