$EVR Evercore Q1 2024 Earnings Conference Call
04/24/2024 Q&A: 20:31 Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm ...
Chairman & Chief Executive Officer, Evercore
Search every verified John Weinberg interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. During Evercore’s first quarter 2024 earnings call, John Weinberg said the firm started the year on a strong note, advising on five of the 15 large global deals announced in the quarter, including General Electric’s spin-off of GE Vernova and Synopsys’ acquisition of Ansys. He noted that Evercore finished the first quarter ranked fourth globally and third in the U.S. based on announced transactions. Weinberg stated that the broader market environment is improving, with significantly increased equity issuance and leveraged finance volumes, and that the firm’s backlogs have further built. He also mentioned that Evercore hired its largest class of investment banking senior managing directors in the firm’s history in the prior year. Weinberg observed that the sponsor community is becoming more determined to move forward, citing an intensity and intention not seen for some time, and noted that the LP community wants to see transactions and capital returned. He acknowledged that interest rates are likely to remain higher for longer but said the firm feels good about the end results, while cautioning that it is hard to predict the trajectory of the second and third quarters. On restructuring, Weinberg said the business remains strong and that higher-for-longer rates will impact it positively, particularly on the liability management side. Regarding the upcoming U.S. election, he stated that past elections have not had a major impact on the merger market and that the firm does not expect a game-changing effect.
“We've started 2024 on a strong note, having advised on five of the 15 large global deals announced in the first quarter; based on the current competitive landscape and our success so far this year in announced transactions, Evercore finished the first quarter among all firms ranked fourth in the global league tables an...”
“We continue to see the broader market environment improve, including significantly increased equity issuance and leveraged finance volumes indicating better financing availability for transactions; this has led to a further build of our backlogs.”
“We continue to closely monitor the geopolitical, economic and regulatory environment which could further alter the trajectory of the recovery.”
“Last year we hired our largest class of investment banking senior managing directors in the firm's history and we are pleased to have all 11 new SMDs now at Evercore, including one who joined us in January who covers the real estate sector.”
04/24/2024 Q&A: 20:31 Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm ...
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