Evercore stars Ralph Schlosstein, John Weinberg, and Paul Stefanick share the early-career advice that helped launch their Wall Street careers.
, soaring from $180 million in advisory deal fees in 2008 to nearly $1.75 billion in 2018 — now fourth behind heavyweights Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
Poaching star bankers, shrewdly and patiently, has been key to Evercore's ascension. Since taking the helm as CEO a decade ago, Ralph Schlosstein has assembled a murderers' row of dealmakers who have helped the firm land increasingly prominent and lucrative roles on megadeals. Among the rainmakers Schlosstein has brought aboard in recent years: John Weinberg, the Goldman Sachs exec who co-headed the firm's global investment bank for more than a decade, joined in 2016 as executive chairman, and Paul Stefanick, a longtime Merrill Lynch mergers-and-acquisitions star who ran Deutsche Bank's US investment bank for several years, joined the following year as a senior managing director.
When asked about the best career advice they'd ever gotten over the course of their long careers on Wall Street, each of the three bankers credited a sage piece of wisdom doled out at the beginning stages of their careers for helping launch them to where they are today."The people that you step on as you make your way up the ladder will be there to kick you on your way down.""The best career advice that I have received was on the very first day of my very first job.
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