Evercore said on Sunday, 18 October, from New York, that the board had named Nigel Dawn and Naveen Nataraj co-presidents, from 1 January 2027. They report to John S. Weinberg, chairman and CEO. Weinberg still leads the firm, the Management Committee and strategy. The board and he agreed: he stays chairman and CEO for at least three years. This is not a CEO change now.

The statement speaks of a new structure, to keep the growth pace. Dawn and Nataraj will work with Weinberg, with founder Roger C. Altman, Senior Chairman, and with global leadership. The firm did not say how they will split the work. It did not say who follows Weinberg after those three years. The Financial Times read the notice as a succession contest. That is the paper’s reading, not the line in the statement.

Dawn built Private Capital Advisory, with teams in the United States, Europe and Singapore. He becomes chairman of PCA and stays close to clients. Nataraj stays in investment banking and keeps advising clients on deals. Neither is in the post before 1 January 2027.

Below them, the U.S. bank is rearranged. Daniel Mendelow becomes sole head of U.S. Investment Banking, the group’s largest business, the statement says. Jason Sobol becomes chairman of that line and works with Eduardo Mestre, who remains chairman of global investment banking.

Weinberg has been CEO since February 2022, after sharing the job from 2020, according to the 2026 proxy cited by TickerGrove. In April he was 69. Altman founded Evercore in 1995. We have not turned a three-year commitment into a departure calendar.

The listing (NYSE: EVR) stays. Weinberg is still CEO. The co-presidents start in January. Succession, unsaid by the firm.

Image: 1251 Avenue of the Americas, Midtown Manhattan, 12 September 2022, Tdorante10, CC BY-SA 4.0, Wikimedia Commons. Not Evercore’s headquarters.

Sources consulted: Evercore Appoints Nigel Dawn and Naveen Nataraj as Co-Presidents — Evercore; Evercore Promotes Two to Co-President to Bolster Leadership — Bloomberg Law.