13 November 2018

Evercore continues hiring spree, poaches senior J.P. Morgan M&A banker

Despite faltering a bit during the third quarter, Evercore is sticking to its aggressive growth plans that have the boutique on pace for a record year of recruiting. The firm just added another senior M&A banker in Damien Fisher. The former J.P. Morgan veteran started earlier this month as a managing director in New York.

Before hiring Fisher, Evercore added a net 11 senior managing directors through the first nine months, according to Buckingham Research. Assumedly, a rush of junior hires has followed. An executive director while at J.P. Morgan, Fisher is facing a high bar based on previous MD additions. The average senior managing director at Evercore produces roughly $16.5m per year in revenue. That said, the boutique has a “near 100% success rate” with senior banker hires, based on interviews Buckingham analysts conducted with competitors and other industry sources.

While revenues decreased slightly during Q3, Evercore’s 60% compensation ratio should have employees sleeping just fine. Assuming a decent fourth quarter, the average Evercore employee will take home just under $600k for the year.

Fisher spent the last 10 years at J.P. Morgan, specializing in real estate, gaming, technology and industrials sectors, according to LinkedIn. He has his MBA from UPenn’s Wharton School as well as a master’s degree in international studies.