Ralph Schlosstein has joined Evercore as president and chief executive officer.
Schlosstein (pictured) was previously president and co-founder of BlackRock, where he spent nearly two decades as president helping to grow BlackRock from a start-up into one of the world's leading financial services firms.
Roger Altman will continue as full time chairman of the company.
Schlosstein will manage all of Evercore's businesses and work with Altman and the firm's other partners to expand Evercore by building out its core advisory business and further globalizing and diversifying the firm's overall business.
"Evercore has come a long way," says Altman. "It is the premier advisory boutique in the U.S. and has taken key steps in Europe, Latin America and Asia to globalize that business. Its success reflects a strong internal culture, extraordinary partners and a classical approach to banking. I have never been more optimistic on the firm's future, especially for shareholders. I am confident that, working with all of us, Ralph will take Evercore to an entirely new level."
"The partners at Evercore have built an incredible franchise with the best and brightest senior advisors in the business," says Schlosstein. "Roger and the Evercore partners have laid a solid foundation for Evercore's continued growth, and I am extremely enthusiastic about partnering with them to diversify both of the business lines and to expand the geographic reach of Evercore. This is a unique time in the financial services industry to attract world class talent to boutique investment banking firms, and I look forward to working with Roger and the entire Evercore team to help Evercore take advantage of this opportunity."
Schlosstein has also become a partner in Evercore and purchased USD15m of Evercore equity.