Hello everyone and welcome to At Barrens. I'm Andy Surwer and welcome to our guest, Roger Altman, founder and chairman of Evercore.

Roger, great to see you. Hi Andy. How are you? Good. And thank you very much for hosting us here at Evercore.

I want to ask you about the firm that you founded in

1995. It's described as a global independent investment banking advisory firm. So what does

that mean exactly?

It means that Evercore simply advises, no matter what we do, it's advising. So we're not part of a universal

banking platform with lending, sales and trading, investing, currencies, and everything else,

commodities. It's just an advisory firm. Now it's a big one. I'm proud to say that we just

had our 29th anniversary two months ago,

and based on the latest quarterly data, we're third in the world in terms of just total global

advisory revenue. The main firms in this are publicly owned. They break this out very specifically.

The data is clear. So after

29 years, that's pretty good. But we don't, we don't lend money. We don't invest, whether

it's block trading or any other type of investing. And we don't use a balance sheet in anything that we do.

So it's a pure advisory firm of the type that was quite widespread many years ago, and

there are others like us around, but we're the largest of the independent advisory firms

buy a lot.

I know you said, Roger, that when you founded the firm, those 29 years ago,

that there was no epiphany a. Steve Jobs and Dave Wozniak like Apple,

but you must have had some vision in mind, and you had this just giving advice vision in mind, right?

Did you map it out on Napier or something? Well, keep in mind, the idea, Andy, of a pure advisory firm is an old idea. Indeed,

it's an ancient idea. When I started in the business so many years ago, there were a whole

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