Evercore expands Chicago office amid growing Midwest presence

NEW YORK - Investment banking advisory firm Evercore (NYSE:EVR), an $11 billion market cap company with a "GREAT" financial health rating according to InvestingPro, announced Monday it is expanding to a larger office space within its current Chicago headquarters to accommodate its growing team and strengthen its Midwest presence.

The firm, which established its Chicago office in 2015, cited increasing client demand as the driver behind the expansion. This growth aligns with Evercore’s impressive 27% revenue growth over the last twelve months. The new space will enhance Evercore’s ability to serve clients across the Midwest region.

"We are excited to be deepening our presence in the Midwest, which we view as a key market with significant opportunity," said Jason Sobol, co-head of Evercore’s U.S. Investment Banking business, in a press release statement.

The Chicago office will continue to be led by senior managing directors Daniel Aronson, who oversees Liability Management & Restructuring; Eric Neveux, who leads Financial Institutions; Michael Palm, who heads Industrials; and Tyler Zittergruen, who manages Private Capital Advisory.

Evercore, founded in 1995 and headquartered in New York, provides independent investment banking advisory services including mergers and acquisitions, strategic shareholder advisory, restructurings, and capital structure advice. The firm also assists clients with raising capital and provides equity research, sales and trading execution, and wealth management services.

The expansion represents an important milestone in Evercore’s regional strategy as it continues to build its presence in major financial centers across the Americas, Europe, the Middle East, and Asia. With 18 consecutive years of dividend growth and strong returns over both short and long-term periods, Evercore demonstrates consistent financial strength. InvestingPro subscribers can access 10+ additional key insights about Evercore’s financial performance and future prospects through the comprehensive Pro Research Report, helping investors make informed decisions about this growing financial services leader.

In other recent news, Evercore has reported a significant earnings surprise for the first quarter of 2025, with adjusted earnings per share (EPS) of $3.49, surpassing the forecasted $2.35. Despite a slight revenue miss, the company achieved a 19% year-over-year increase in net revenues, reaching $700 million. This growth was driven by strong performance across its business lines and strategic talent acquisition. Morgan Stanley has upgraded Evercore’s stock from Equalweight to Overweight, citing its substantial exposure to large-cap deals and its involvement in three of the top six mergers this year. The firm highlighted Evercore’s Private Capital Advisory (PCA) business as a key growth driver, which contributed to a 127% EPS beat in the first quarter. Analysts from Morgan Stanley anticipate future earnings beats driven by PCA, noting Evercore’s early entry and strategic investments in this area. Evercore’s strategic focus on talent and innovation continues to bolster its market position, with the company’s backlog at record levels, according to CEO John Weinberg.

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