Boutique bank Evercore hired a JPMorgan industrials banker, promoted him to MD

If you’re an investment banker, there’s one thing to be, and one place to be: to be a managing director and to be at a boutique bank. Sometimes – if you’re pretty lucky – you can get both at once.

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Allen Shalam joined Evercore last week as a managing director, based in the firm’s New York office. Shalam joined the bank from JPMorgan, where he spent 11 years – and was lastly an executive director in its business services coverage team. 

When a boutique bank like Evercore hires a managing director, things are rarely as simple as they seem. An MD at Evercore is not quite the same as other places – the firm also employs “Senior” Managing Directors, similar to the “partners” employed by firms such as PJT or PWP. These are the real revenue generators at the firm.

Evercore’s Q1 results haven’t been released yet, but its Q4 (and full year 2025) results showed that it hired generously across the entire year – around 200 people in total, from a starting headcount of 2,380. It seems that the firm’s appetite for people has continued to develop.

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