New York-based investment bank Evercore has announced a leadership restructuring that includes the appointment of Nigel Dawn and Naveen Nataraj as co-presidents, effective next year. These moves position the two executives as potential successors to longtime chief executive John Weinberg, who has committed to remaining as CEO and board chair for at least the next three years.
Weinberg, 69, who joined Evercore a decade ago after leading investment banking at Goldman Sachs, has overseen significant growth at the firm during his tenure. Since 2017, Evercore’s total return, incorporating stock price appreciation and dividends, has exceeded 350 percent, and the company’s market capitalization has surpassed $10 billion.
Speaking alongside Evercore co-founder Roger Altman, Weinberg described the introduction of the co-president roles as a response to the company’s increased scale and complexity. “Our scale, our complexity, our global reach. We’re just so different and because of that there’s a lot we need to do as we execute our strategy,” Weinberg said. Altman, Evercore’s senior chair and now 80 years old, emphasized that while the firm has expanded and these appointments reflect that growth, no final decision has been made regarding Weinberg’s succession.
Evercore has grown its senior managing director ranks in investment banking to nearly 190, adding around 70 dealmakers over the past three years. The firm’s regional presence has also expanded, including through its $196 million acquisition of UK advisory firm Robey Warshaw. Under Weinberg’s leadership, Evercore has diversified its advisory services beyond traditional mergers and acquisitions, now encompassing private capital fundraising, equity capital markets, and structured finance, particularly focusing on sectors such as data centers and other asset-intensive businesses. About half of the firm's current revenues come from areas outside of mergers and acquisitions, according to Altman.
Nigel Dawn, 62, currently leads Evercore’s private capital advisory group and has been recognized for his pioneering work in secondary-market transactions, involving the sale of limited partner stakes in private market funds. Naveen Nataraj, 51, previously co-headed Evercore’s US investment banking division and is noted as one of the firm’s leading technology dealmakers.
These leadership changes reflect Evercore’s ambition to sustain its growth trajectory and competitive position on Wall Street, where it has established itself as a notable challenger to larger firms such as Goldman Sachs and Morgan Stanley. The appointment of co-presidents marks a new chapter in the firm’s governance, highlighting its increasing global complexity and evolving business model.