Evercore Wealth Management, a unit of Evercore Partners, has agreed to acquire Mt. Eden Investment Advisors.
Though the financial terms of the deal have not been announced, the sale to Evercore is expected to close in fourth quarter.
The three new partners that have been named are: Keith Williams, Mt. Eden’s founder, CEO and chief investment officer; Tim Barrett, a Mt. Eden founding principal; and Michael O’Brien, a Mt. Eden senior portfolio manager.
$645m client assets
With the three new partners, Evercore Wealth Management will have seven partners serving HNWI, families, and related institutions along the West Coast; and a total of 25 partners across the US.
As of 30 September 2012, Mt. Eden Investment Advisors has reported US$645 million in client assets.
Jeff Maurer, CEO of Evercore Wealth Management, said: "The expansion of our West Coast presence is an exciting step in our continued growth as a national firm. Our new colleagues, who average more than 20 years of experience, share our conviction that private clients are best served by independent advice and an investment approach that is free from conflicts of interest."