Boutique investment banks Evercore and Lexicon merge

Evercore Partners has bought Lexicon Partners for 86 million $141 million in cash plus Evercore shares.

The deal brings together two boutique investment banks with strengths on different continents. Evercore, which has ranked first among boutique banks based on global MA volumes since 2000, has 12 offices worldwide, of which six are in the US and four in Latin America.

Evercore founder and chairman Roger Altman started his investment banking career with Lehman Brothers and did two stints with the US government a four-year spell from 1977 as assistant secretary of the US Treasury and then a two-year run from 1993 as deputy secretary of the...