Milken Institute, via YouTube
Paul Stefanick, formerly of Deutsche Bank, speaks at the Milken Institute.
Evercore Partners has hired Paul Stefanick, an eight-year veteran of Deutsche Bank, as senior managing director.Stefanick, 56, will work with a small team of senior advisors to bring on new clients for Evercore's growing business, the bank said in a statement. Before joining Deutsche, Stefanick was head of global M&A at Merrill Lynch, before joining Deutsche Bank, eventually rising to head its US investment banking arm.
"Paul's extensive client relationships among large cap corporates, particularly in the industrials sector, will help Evercore achieve one of its most important strategic priorities," said President and CEO Ralph Schlosstein in a release.
Stefanick's past clients include General Motors, Carlyle Group, General Electric and IBM.
The New York-based boutique firm has recently hired two Goldman Sachs alumni: Bill Anderson and Roopesh Shah, as well as former Rothschild aerospace banker Ira Wolfson, according to the Wall Street Journal. Last year, the firm has hired John Weinberg, part of a Goldman Sachs dynasty, to be executive chairman. The firm's share price is up 60% in the past 12 months.
The firm has generated $437 million in M&A revenue so far this year, according to Dealogic, ranking ninth in the world and ahead of Stefanick's former employer Deutsche Bank. That's impressive given the firm has a little more than 80 senior managing directors.
Dealogic
Global rankings of M&A revenue in the first half of 2017
In the US, Evercore has a 4.2% share of revenues, ranking seventh, ahead of the likes of Credit Suisse, Lazard and Jefferies.
Dealogic
US rankings of M&A revenue in the first half of 2017