Evercore Partners Announces Strategic Cooperation Effort Headed by Donald Tang
--CITIC Securities International Partners (CSIP) Will Combine Complementary Strengths of
NEW YORK, March 15, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- CITIC Securities International Partners (CSIP) Will Combine Complementary Strengths of China-focused Investment Bank with Leading Independent Investment Banking Boutique in the Americas and Europe
Evercore Partners Inc. (NYSE: EVR) today announced a strategic agreement with CITIC Securities International (CSI) and the inauguration of CITIC Securities International Partners, Limited ("CSIP") which will focus on cross-border M&A advisory and investment management, sourcing and effecting transactions between China and other international markets.
Industry veteran Donald Tang, former Chairman of Bear Stearns Asia and Vice Chairman of Bear Stearns, will lead CSIP as Chief Executive Officer. Through its affiliated entities and subsidiaries, CSIP will provide cross-border M&A advisory services as well as manage a China-focused private equity business.
"I have spent my entire career developing the relationships and expertise necessary to catalyze new growth opportunities by connecting the business and cultural interests of China with the rest of the world," said Donald Tang, Chief Executive Officer of CSIP. "I am so privileged to join forces through this strategic cooperation agreement with Evercore. Together we offer a unique combination of local access and expertise, global reach and world class product knowledge which form the cornerstone of our cross-border M&A and private equity offerings."
"This strategic cooperation initiative with CSI facilitates our clients' access to the Chinese market," said Roger Altman, Chairman and Chief Executive Officer of Evercore Partners. "It also makes significant headway towards Evercore's goal of further globalizing our business. We are especially pleased to join with such prominent and highly respected partners as CITIC Securities International and Donald Tang."
About Evercore Partners
Evercore Partners is a leading investment banking boutique. 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 clientele around the world from its offices in New York, San Francisco, Boston, London, Mexico City and Monterrey, Mexico. EVR-X
SOURCE Evercore Partners Inc.
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