Evercore (EVR) Morgan Stanley US Financials, Payments & CRE Conference 2024 summary

Growth strategy and business expansion

• Focused on strategic growth by hiring strong talent and expanding into sectors with high value-add potential.

• Largest class of lateral senior managing directors hired last year, with 30+ SMDs currently ramping.

• Expanding client coverage and product base, targeting white space in sectors like building services, real estate, and financials.

• Doubling down on growth areas such as fintech, technology, software, clean tech, and biotech.

• Careful geographic expansion, especially in Europe, with new offices and sector buildouts in Paris and other regions.

Culture and talent management

• Culture is a daily focus, with hiring decisions emphasizing cultural fit and teamwork.

• Senior leadership actively reinforces culture through regular engagement and communication.

Diversification and non-M&A businesses

• Private Capital Advisory and secondaries are in secular growth, with high market share and new product launches like collateralized fund obligations.

• Selective approach in private fundraising led to the second-best year ever for the Private Funds Group despite a tough market.

• ECM business is broadening beyond healthcare into energy, consumer, and financials, with ambitions to be top 10 in equity capital markets.