Evercore Wealth Management

Evercore Wealth Management, LLC is the wealth management division of Evercore, an investment bank based in New York. The bank is a registered investment advisor, delivering customized investment management, financial planning, trust and custody services to high net worth individuals, families and related institutions across the US.

History

The firm was founded in 2009 by the former chief executive officer of U.S. Trust, Jeff Maurer, who was accompanied by seventeen of his colleagues. The former U.S. Trust staff members left the company after it was sold by the Charles Schwab Corporation to the Bank of America in 2006.

At the end of 2011, Evercore Wealth Management consisted of 23 partners, offices in New York, San Francisco, and Minneapolis, US$3.2 billion in assets, and more than 50 employees. Evercore also receives backing from the investment bank, Evercore Partners, which will assume complete ownership of the wealth management firm in 2020.

Personal trust services are conducted through Evercore Trust Company, N.A, a national trust bank that, as of 2011 held US$30.8 billion in assets.

Acquisitions

On May 4, 2010, the firm completed the acquisition of Morse, Williams and Company, Inc., a registered investment advisor. In a related transaction, the firm acquired The Wall Street Fund, "WALLX", a mutual fund launched on December 23, 1945.

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