U.S. investment firm Evercore Partners has appointed Jeffrey Maurer to head its new wealth management business, Evercore Wealth Management. Former U.S. Trust CEO Maurer will handle a team of eight from Bank of America, which acquired U.S. Trust from Charles Schwab in July 2007 for $3.3 billion. Evercore Founder Roger Altman decided to open the firm to ensure income from sources other than mergers and acquisitions deals.
The
new group comprises of U.S. Trust executives Christopher Zander, head of a unit that advises wealthy families, and Jay Springer, head of investment management for the middle-Atlantic states. The new firm will also employ: Gary Gildersleeve,
James Holihan and Sandy Panetta, all partners and fixed income portfolio managers; John McDermott, partner and equity portfolio manager; John Rendinaro, partner and operations and trading manager; and Karen Francois, partner and client services manager. Ex-U.S. Trust Vice Chairman and CIO
Fred Taylor will be a senior advisor to
EWM.
The firm will cater to investors will At least $5 million available to invest. The firm will expand its staff as its business
grows and the firm has already tapped other equity portfolio managers and wealth consultants, who will come aboard before year’s end when their existing obligations are completed.
