Evercore Partners’ investment management
business reported $5bn of assets under management (AuM) at the
quarter end, up 10% from the fourth quarter of 2009.
This reflected inflows of approximately $0.3bn
and market appreciation of approximately $0.2bn since the fourth
quarter.
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Wealth management fees increased dramatically
to $1.9m, up 14% on the fourth quarter of 2009 and increased almost
four times on its 2009 first quarter result.
Evercore Wealth Management, which makes up
part of the group’s investment management $5bn AuM, has gathered
$1.5bn in AuM since setting up in November 2008, and has set a
target of $5bn by 2015.
In February, Evercore agreed to buy Morse,
Williams and Company.
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