At what point is Evercore no longer considered EB?
They're growing so heavy, curious to know when would people no longer consider them an “EB”
Certainly there’s some point where a bank gets so big you can no longer call it a “boutique”
I mean LAZ is still bigger than them yet it's been EB for ages, even when it was relatively much bigger than other EBs
It’s just a label would need to be a huge change like Evercore starts a commercial bank. Similar to how banks like wells and Jefferies are not BBs despite (in my view) being stronger than the lower BBs
No balance sheet = not a BB
This is a very M&A centric perspective and shows that you don’t really understand the dynamics at play.
When you say “so big” what exactly are you referring to? Evercore’s M&A advisory revenue is similar to [insert BB - JP Morgan’s] but the comparison stops there.
Evercore is an $11bn market cap with ~2,500 global employees and probably does 70%+ of its revenue in M&A (including RX).
JPM is a $770bn market cap with ~320,000 employees and does probably 30% of its investment banking revenue from M&A (equal to 5% of its C&IB Segment revenue and 1% of total firm revenue)
The suite of products and services that JPM can offer its investment banking advisory clients is vastly different than Evercore
Dolor nihil perspiciatis et. Maiores aut qui ipsum commodi magnam. Magni iste ratione aperiam ducimus ratione.
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