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The AT&T Deal Gives Evercore a Boost

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By Laura Marcinek and Serena Saitto

March 24, 2011 at 9:00 PM UTC

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This article is part of the March 28, 2011 issue of businessweek.

Evercore Partners (EVR), the investment bank led by Roger C. Altman, is climbing the ranks of Wall Street's top advisers on mergers and acquisitions. Its latest coup: helping AT&T (T) on its $39 billion takeover of T-Mobile, announced on Mar. 20—the year's biggest acquisition. The bank also advised optionsXpress (OXPS) on its $1 billion sale to Charles Schwab (SCHW), unveiled the next day. The deals extend a winning streak for Evercore. The firm advised Sanofi-aventis (SNY) on its $20.1 billion purchase of Genzyme (GENZ), announced in February, and worked with Lubrizol (LZ) on its $9 billion sale to Warren Buffett's Berkshire Hathaway (BRK.A) in March.

Altman, a former deputy secretary of the U.S. Treasury, has expanded Evercore, which he founded in New York in 1996, into a more than 600-employee firm. "We are not a small boutique anymore," says Altman, 64.