Jim Mitchell's questions to Evercore Inc (EVR) leadership • Q3 2024
Question
Jim Mitchell from Seaport Global inquired about Evercore's Equity Capital Markets (ECM) business, asking about its current market share position and the potential for growth and upside as the IPO market recovers.
Answer
CEO John Weinberg explained that the ECM business is gaining momentum with a goal to be a top-10 firm, currently ranking around 11th. He highlighted that the business has successfully broadened its reach beyond its traditional strength in biotech, noting its role as a bookrunner in five of the last eight U.S. tech IPOs. He expressed optimism about ECM being a significant growth area for the firm.