Shares in “Eat What You Kill” Investment Bank Evercore Soar as it Ramps Up European Expansion

Shares in “Eat What You Kill” U.S. investment bank Evercore Partners (EVR) powered higher today as it placed European expansion firmly on its menu.

Big Deal History

EVR stock was 6% higher in pre-market trading as it snatched one of rival Citigroup’s (C) top European dealmakers, Luigi de Vecchi. He has worked on some of the biggest deals on the continent in recent years, including LVMH’s (LVMUY) $16 billion purchase of Tiffany back in 2020 and Prada’s (PRDSY) recent $1.3 billion purchase of Versace.

He will become head of Evercore’s continental European business from July.

According to a report in the Financial Times, the bank will establish new offices in Milan, Italy, building on its existing presence in Paris, France. More is to come, given the comments last year of Evercore’s chief executive, John Weinberg, that the company was in the “third inning, maybe fourth” of its European growth strategy.

According to industry experts, Evercore is particularly attractive to investment bankers because of what is described as a distinctive “Eat What You Kill” model. Clearly not interested in any attempt to mollify concerns from sensitive types over Wall Street pay and bonuses, Evercore allows senior advisers to keep around a quarter of the fees they generate for the firm.

European M&A Surge

It is also hoping to get a bigger slice of an expanding market in Europe. According to recent LSEG figures, European mergers and acquisitions totaled $221.9 billion during the first four months of 2025, up 13% compared to last year.

That is despite uncertainty over President Trump’s tariff strategy and the continuing war in Ukraine. If those two barriers are lifted, perhaps with a U.S.-led trade deal with the EU and a ceasefire between Ukraine and Russia, more European deal opportunities could emerge.

Is EVR a Good Stock to Buy Now?

On TipRanks, EVR has a Moderate Buy consensus based on 2 Buy and 3 Hold ratings. Its highest price target is $234. EVR stock’s consensus price target is $206.40 implying an 4.84% downside.

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