Armed with a slew of wealth management veterans who chose to jump ship from U.S. Trust after it was acquired by Bank of America, Evercore Wealth Management has nearly doubled its assets under management to $1.4 billion in the past six months, but if that wasn't already impressive, the New York company's top executive expects to nearly quadruple that and reach $5 billion in the next five years.
"We are off to a good start in a turbulent environment," said Jeffrey S. Maurer, Evercore's chairman and chief executive officer. "But I would say we'd be disappointed if we weren't at $5 billion by our fifth anniversary. Right now, it is a question of how to get there. We are going to consider organic and inorganic means."