Evercore Creates Wealth Management Firm with Former U.S. Trust Chairman and Chief Executive Officer Jeff Maurer and Team of Portfolio Managers and Wealth Planners NEW YORK, Nov. 18 /PRNewswire-FirstCall/ -- Evercore Partners Inc. (NYSE: EVR) announced today that it has launched Evercore Wealth Management ("EWM") with Jeff Maurer, former Chairman and Chief Executive Officer of U.S. Trust Corporation, and a seasoned team of portfolio managers and wealth planners. In addition, Fred Taylor, former Vice Chairman and Chief Investment Officer of U.S. Trust, will serve as a senior advisor to EWM. EWM, which will focus on serving clients with more than $5 million in investable assets, will manage the complex and sophisticated needs of its wealth management clients by offering independent, client-focused service and advice that is consistent with Evercore's corporate-focused, client-based culture. "Establishing a wealth management business centered in independent services is a natural step for us," said Roger C. Altman, Chairman and Chief Executive Officer of Evercore Partners. "This is the same approach we bring to our corporate advisory business. And, this step moves us further towards our long stated strategic goal of better balancing the Firm between its advising and investing activities." Mr. Altman continued: "Jeff's leadership and expertise in building and running a successful wealth management business -- coupled with the proven talents of the portfolio managers and wealth planners we have recruited to the business -- will enable us to provide clients with a level of attentiveness and investment advice that is lacking in the current market environment. We are pleased to start EWM with Jeff and his team of investment professionals, as they share our belief that nimble and client-centric firms are best equipped to serve the wealth management needs of clients during challenging times and over the long term." Mr. Maurer helped grow U.S. Trust into one of the top wealth management firms in the U.S. Throughout his career, Mr. Maurer worked closely with U.S. Trust clients and was the relationship manager for several of the firm's key accounts. Mr. Maurer joined U.S. Trust in 1970 and was named President in 1990 and Chief Operating Officer in 1994. He became Chief Executive Officer of U.S. Trust in 2001 and was appointed Chairman of the Board in March 2002. In 2003, Mr. Maurer joined Lehman Brothers as Chairman and Chief Executive Officer of Lehman Brothers Trust Company and remained with the firm through 2007. "EWM is founded on principles that are increasingly in short supply today -- personalized attention to the needs of clients, advice and services that are not compromised by conflicts of interest and an unwavering commitment to managing investment portfolios that support and advance clients' wealth creation and preservation needs," said Mr. Maurer. "There is strong demand in the market for a wealth management firm that consistently places the needs of its clients first, and I am confident that EWM will become the wealth management firm of choice for discerning high net worth individuals." Mr. Maurer will work closely with his team of portfolio managers and wealth planners to launch and build EWM. Joining Mr. Maurer in the launch of EWM will be Gary Gildersleeve, partner and fixed income portfolio manager; James Holihan, partner and fixed income portfolio manager; Sandy Panetta, partner and fixed income portfolio manager; John McDermott, partner and equity portfolio manager; John Rendinaro, partner and operations and trading manager; and Karen Francois, partner and client services manager. Several other equity portfolio managers and wealth consultants will be joining EWM when their current employment obligations expire at the end of the year. Mr. Maurer expects to add experienced investment professionals to EWM as the business grows. EWM will offer its clients investment policy creation, asset allocation, customized investment management, manager selection, performance reporting and wealth/financial planning services. EWM's core investment management services will consist of cash, fixed income and an all-cap core equity offering. Additionally, EWM will provide its clients access to other investment offerings managed by other providers. EWM also plans to establish relationships with a few carefully selected banks as a way to offer private banking services to its clients. Evercore also has filed an application to establish a national special purpose trust company which will allow clients of EWM access to fiduciary and custodial services. About Evercore Partners Evercore Partners is a leading investment banking boutique and investment firm. Evercore's Advisory business counsels its clients on mergers, acquisitions, divestitures, restructurings and other strategic transactions. Evercore's Investment Management business comprises private equity investing, institutional asset management and wealth management. Evercore serves a diverse set of clients around the world from its offices in New York, San Francisco, London, Mexico City and Monterrey, Mexico. More information about Evercore can be found on the Company's Web site at http://www.evercore.com/. EVR-X About Evercore's Investment Management Business Evercore's Investment Management business comprises private equity investing, institutional asset management and wealth management. The firm's U.S. private equity fund seeks to make value-oriented investments in middle market companies while its Mexican private equity fund focuses on smaller, growth-equity investments. Evercore's institutional asset management businesses provide investors with distinctive investment opportunities focused on small- and mid-capitalization publicly traded companies in the U.S., peso-denominated money market and fixed income securities in Mexico, and, in conjunction with the HighView Investment Group, investments in alternative asset managers. The firm's wealth management businesses seek to meet the wealth management services needs of high net worth individuals and select other investors. DATASOURCE: Evercore Partners Inc. CONTACT: Investor: Bob Walsh, Chief Financial Officer, Evercore Partners, +1-212-857-3100, Media: Kenny Juarez or Dana Gorman, The Abernathy MacGregor Group, for Evercore Partners, +1-212-371-5999 Web Site: http://www.evercore.com/

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