NEW YORK, April 7, 2008 /PRNewswire-FirstCall/ -- Evercore Partners Inc.(NYSE: EVR) announced today that Austin M. Beutner, President, Co-ChiefExecutive Officer and Co-Founder, has chosen to retire from the Firm and itsBoard of Directors, effective May 1, 2008. Mr. Beutner advised Evercore latelast week of this decision, which was entirely at his initiation. He has beenon medical leave since undergoing a series of medical procedures inmid-December related to a bicycle accident.
'I expect to make a full recovery,' Mr. Beutner said. 'But, the processwill take more time. For the near term, I want to dedicate myself to that andto my family.'
'I was fortunate to co-found Evercore at the beginning of 1996,' Mr.Beutner added. 'Running the Firm with Roger over all the intervening yearshas been deeply fulfilling and very successful. Evercore has never beenstronger than it is now, and I have no doubt that it will continue to besuccessful.'
Roger C. Altman, Chairman and Co-Chief Executive Officer, will become theFirm's sole Chief Executive Officer. No other managerial changes are planned.Pedro Aspe will remain Co-Chairman of Evercore. Eduardo Mestre and BernardTaylor also will remain Vice Chairmen.
'It is with nostalgia and wistfulness that I accept Austin's decision,'Mr. Altman said. 'We had a very effective and complementary partnershiptogether. Evercore would be nowhere near where it is today without thecontributions he made.'
About Evercore Partners
Evercore Partners is a leading investment banking boutique and investmentcompany. Evercore's Advisory business counsels its clients on mergers,acquisitions, divestitures, restructurings and other strategic transactions.Evercore's Investment Management business manages private equity funds andtraditional asset management services for sophisticated institutionalinvestors. Evercore serves a diverse set of clients around the world from itsoffices in New York, Los Angeles, San Francisco, London, Mexico City andMonterrey, Mexico. More information about Evercore can be found on theCompany's Web site at www.evercore.com. EVR-N
SOURCE Evercore Partners Inc.
