Evercore’s Schlosstein Says Volcker Rule Will Boost Costs

Evercore Partners Inc. Chief Executive Officer Ralph Schlosstein said the Volcker rule, while “well-intended,” will increase costs for investors and companies.

“Its intent is to reduce risk in commercial banking and investment banking,” Schlosstein said today in a Bloomberg Television interview with Betty Liu. “But the line between proprietary trading and market-making is almost impossible to draw.”