April 17, 2012 / 1:52 AM / 7 years ago

Evercore planning major five-year expansion: FT

LONDON (Reuters) - Evercore Partners (EVR.N) aims to become one of the world’s leading independent investment banks within the next five years, its president and chief executive Ralph Schlosstein told the Financial Times on Tuesday.

“We are aiming in the next five years to be the third global independent investment bank. Our ambition is to be mentioned in the same breath as Rothschild and Lazard,” he is quoted as saying.

The growth plan will entail doubling its number of partners from its present number of 60. It will also need to at least double its advisory revenues to be on a par with the industry’s two leaders, the FT said.

Evercore made strides in Europe last year when it bought UK advisory group Lexicon Partners in a 86 million pound ($136.24 million) deal that almost tripled its workforce in the region.

The firm is set to announce on Tuesday its first senior hires since it acquired Lexicon, according to the FT.

(This story is filed to correct third paragraph to say “potentially entail”)

($1 = 0.6312 British pounds)

Reporting by Stephen Mangan

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