Established in 1995, Evercore is a leading global independent investment banking advisory firm. Evercore advises a diverse set of investment banking clients on a wide range of transactions and issues and provides institutional investors with high quality
Andrew Sibbald (49) serves as CEO of Evercore Partners International.Mr. Sibbald was previously the co-founder, senior partner and a managing director of Lexicon, a leading U.K. independent investment banking advisory firm, which was acquired by us in August of 2011.Upon the closing of that acquisition, Mr. Sibbald became the CEO of our European Advisory business.Mr. Sibbald co-founded Lexicon in 2000.From 1997 to 2000, Mr. Sibbald served as a managing director of the Financial Institutions Group at Donaldson, Lufkin & Jenrette, where he led a team specializing in mergers and acquisitions in the financial institutions sector.From 1993 to 1997, he served as a Partner at The Phoenix Partnership, a corporate advisory and private equity business which was acquired by Donaldson, Lufkin & Jenrette in 1997.Prior to joining The Phoenix Partnership, he worked
Mr. Sibbald was a non-executive director of Homeserve Plc between 2007 and 2011.Mr. Sibbald has a B.Sc. (Hons) from Bristol University, U.K.
On August 19, 2011, we completed the acquisition of all of the outstanding partnership interests of Lexicon, in accordance with the Lexicon Agreement entered into on June 7, 2011, by and among us and the shareholders of Lexicon, including Mr. Sibbald.
In addition to the cash consideration paid during 2011, Mr. Sibbald received 240,564 unvested restricted shares of Class A common stock in accordance with the Lexicon Agreement.
Such shares generally vest and are delivered in substantially equal annual installments over a three-year period beginning on June 30, 2013.
Upon vesting, such shares will be subject to transfer restrictions until the earlier of (i) the first anniversary of the relevant vesting date and (ii) the date of the first secondary offering by the Company following the relevant vesting date.
Accordingly, on June 30, 2015, certain of Mr. Sibbald’s restricted shares vested and will be transfer restricted until June 30, 2016.
See “ Compensation of our Named Executive Officers—Options Exercised and Stock Vested in 2015” for a further discussion of the terms of these restricted shares.
Vesting and delivery of such shares will accelerate in certain circumstances, including, but not limited to, Mr. Sibbald’s termination without “cause,” a qualifying retirement or upon a change of control.
Under the Lexicon Agreement, a seller can be terminated for “cause” if he or she (1) is convicted of a criminal offense that is a felony or a misdemeanor crime involving dishonesty or deception; (2) commits a persistent material breach of the terms of the Evercore Partners International Deed and such persistent material breach causes Evercore to commit a material breach of the applicable rules and regulations of a governmental entity and such seller fails to remedy such material breach within a reasonable period of receiving a written warning from Evercore; (3) has his or her material licenses, authorizations or consents withdrawn by a governmental entity as a result of his or her deliberate breach of applicable rules and regulations; (4) is disqualified from holding office as a director under the Company Directors Disqualification Act 1986 as a result of his or her deliberate wrongdoing; or (5) following receipt of a written warning from the CEO of Evercore Partners International, has failed to remedy within 10 business days what the CEO of Evercore Partners International and a super majority of the sellers acting fairly, reasonably, on a fully informed basis and in good faith conclude was a deliberate and unreasonably continuous disregard of his or her fundamental obligation to commit time and effort to the performance of his or her duties pursuant to the Evercore Partners International Deed of such magnitude as to justify his or her summary dismissal.
In connection with the acquisition of Lexicon, Mr. Sibbald also entered into a Schedule of Terms with us.
For a further discussion on Mr. Sibbald’s Schedule of Terms, see “ Compensation of our Named Executive Officers—Employment Agreements and Equity Awards—Schedule of Terms with Mr. Sibbald.”
'Capital advisory business in its various forms has been an important source of growth for Evercore in Europe over recent years', said Andrew Sibbald, Chief Executive of European Investment Banking at Evercore. 'With the arrival of Swag and Mark, we will be able to serve our clients more effectively with a dedicated debt advisory capability to complement our existing restructuring, public and private equity advisory activities'.
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