Evercore adds an Alliance Bernstein veteran to build out its advisory team
New York aggregator's warp speed growth continues with hire from big legacy firm
2 min read- Evercore Wealth Management hired Wendy Barasch from Alliance Bernstein as a partner.
- Barasch will lead business development and recruit new talent at Evercore.
- Maurer touts Evercore's collegial, start-up environment as key to attracting talent.
In another example of Evercore Wealth Management’s power to draw talent from established firms, the start-up RIA comprised of top private bankers has recruited Wendy Barasch from Alliance Bernstein.
Barasch will head business development and will be a partner at Evercore, the company reported yesterday.
At Alliance Bernstein, she was managing director in the private client business, responsible for hiring and developing teams of financial advisors. She will join Evercore Wealth Management at the end of June.
Evercore is looking to its future after lifting out a huge team of U.S. Trust financial advisors
She also led advisor training programs and served as a wealth management advisor, working with high-net-worth families, small endowments and foundations.
Recruit new talent
Story Timeline
Barasch will play a similar role at Evercore. “Wendy’s role will be to build out a marketing and business development process at the firm. Over time she will help existing partners pursue new business opportunities and recruit new talent to the firm,” says Jeff Maurer, CEO of Evercore Wealth Management.
Maurer is a former U.S. Trust CEO and chairman who has established a New York-based RIA. Since the start of 2009, the firm has attracted 17 former U.S. Trust financial advisors. Most of the partners work from its Manhattan headquarters. The firm has more than $1.5 billion of assets under management and 35 total staff. For more, read: “Evercore is looking to its future after lifting out a huge team of U.S. Trust financial advisors:https://www.riabiz.com/a/720011
In its latest talent grab, Evercore Wealth Management hires a 'young, up-and-coming player'
Maurer has been able to attract top talent from U.S. Trust and other firms by offering an alluring mix. New partners get to be part of a collegial atmosphere honed over years at U.S. Trust, but they also get to be part of a dynamic young start-up.
Maurer cites the latter quality of his firm as a reason that Barasch jumped from Alliance Bernstein.
Long courtship
“Based on our long courtship I can report that Wendy enjoyed a wonderful career at Alliance Bernstein but thought the time was right to become a partner in a young firm where she could be an impact player,” he says.
Barasch will be based in New York and will report directly to Maurer. She is a graduate of Williams College, where she received her Bachelor of Arts degree, and New York University’s Stern School of Business, where she received her MBA.
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