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Roger Altman's government and finance career spans over three decades, with a notable stint as the Deputy Secretary of the Treasury under President Bill Clinton. He served in this position from 1993 to 1994.
During his tenure, Altman played a crucial role in shaping the US financial system, particularly in the wake of the 1990s financial crisis. His expertise in finance and government helped stabilize the economy.
Altman's experience as Deputy Secretary of the Treasury laid the groundwork for his future career in finance, where he has held various senior positions.
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Early Life and Career
Roger Altman graduated from business school in 1969 and began working at Lehman Brothers, where he quickly rose through the ranks. He became the youngest general partner in Lehman's history at the age of 28 in 1974.
Altman's close relationship with chairman Peter G. Peterson was a key factor in his rapid advancement. He left Lehman in 1977 to serve as Assistant Secretary for Domestic Finance in the U.S. Treasury under President Jimmy Carter.
As Assistant Secretary, Altman played a crucial role in negotiating the Federal Government's $1.5 billion bailout of the Chrysler Corporation.
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Government and Private Sector
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Roger Altman has had a distinguished career in both government and private sectors. He co-founded Evercore, an investment banking advisory firm, in 1995 and currently serves as its chairman. Evercore's investment management arm had over $14 billion in assets under management by 2014.
Altman's government experience began when he was confirmed as the United States Deputy Secretary of the Treasury in January 1993. He played a key role in some of the Clinton administration's biggest legislative victories, including the passage of the Omnibus Budget Reconciliation Act of 1993.
Altman's tenure in government was marked by controversy, however, and he resigned in August 1994 after it was revealed that he had notified the Clinton White House of the criminal referrals made by the Resolution Trust Corporation.
Clinton Administration
The Clinton administration had a significant impact on the economy and trade policies. One notable figure during this time was Robert Altman, who served as the Deputy Secretary of the Treasury from 1993 to 1994.
Altman was chosen by President Bill Clinton and confirmed in January 1993. He played a key role in several major legislative victories, including the passage of the Omnibus Budget Reconciliation Act of 1993 and the approval of the North American Free Trade Agreement.
The Clinton administration's economic policies were often associated with moderate stances, and Altman was seen as a "deficit hawk." He was also known for his work on trade agreements, which aimed to reduce trade barriers and promote economic growth.
Altman's tenure at the Treasury Department was marked by controversy, however. He resigned in August 1994 after it was revealed that he had notified the Clinton White House of criminal referrals made by the Resolution Trust Corporation.
Return to Private Sector
In 1995, instead of returning to Blackstone, he co-founded Evercore, an independent investment banking advisory firm in New York City, and currently serves as its chairman.
Evercore became a major player by 2014, with its investment management arm having over $14 billion in assets under management.
Its investment banking advisory arm boasted $1.5 trillion in announced transactions, advising General Motors through its bankruptcy.
Evercore was paid $46 million by GM pre-bankruptcy, but asked for a $17.9 million success fee, which a U.S. bankruptcy trustee called "staggering" and "inordinately large".
Altman also stayed connected with politics, advising presidential candidates John Kerry in 2004 and Hillary Clinton in 2008.
In 2010, President Barack Obama interviewed him as a potential candidate to replace Larry Summers as his National Economic Council director.
What Is the Salary?
The salary of top executives can vary greatly. Roger Altman, the Founder and Senior Chairman and Director of Evercore Inc, has a total compensation of $9,585,110.
John Weinberg has the highest compensation at Evercore Inc, earning $18,312,900.
Other Activities
Altman has been involved in various activities beyond his professional career. He has sat on the Board of Trustees of New York-Presbyterian Hospital since 2006.
He also holds a position as Vice Chairman of the Board of the American Museum of Natural History. This highlights his commitment to education and the arts.
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As Chairman of New Visions for Public Schools, Altman has worked towards improving the education system in the US. This is evident in his efforts to reform public schools.
Altman is a member of the Council on Foreign Relations, which indicates his involvement in international affairs. He is also a Director of Conservation International, focusing on environmental conservation.
Here is a list of some of Altman's other notable affiliations:
- Advisory Council member for The Hamilton Project, a Brookings Institution economic policy initiative.
- Steering Committee member of The Bilderberg Group, a group of influential business and government leaders.
Evercore and Insider Trading
Roger Altman, the Founder and Senior Chairman of Evercore Inc, has been actively involved in insider trading since 2007. He has made over 6 trades of the Evercore Inc stock during this period.
Roger's largest trade was selling 443,914 units of Evercore Inc stock on 23 May 2007, worth over $12,407,396. This is a staggering amount, and it's clear that he has been making savvy investment decisions.
Evercore Inc insiders have traded over $300,108,589 worth of stock over the last 18 years. This is a significant amount, and it's a testament to the confidence they have in the company.
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The most active insiders traders include Ralph Schlosstein, Roger C Altman, and Bernard J Taylor. They trade stock every 50 days on average, with the average trade being worth $9,603,892.
Here's a breakdown of Roger's most recent trades:
These trades demonstrate Roger's consistent involvement in insider trading, and his ability to make significant profits from his investments.
Evercore Overview
Evercore is a global independent investment banking advisory firm founded in 1995. The firm is headquartered in New York and has offices in major financial centers worldwide.
Evercore provides a range of services, including mergers and acquisitions, strategic shareholder advisory, restructurings, and capital structure, as well as wealth and investment management services.
The firm's leadership includes notable individuals such as Roger Altman, who is the founder, Senior Chairman and Director of Evercore, and John Weinberg, who serves as Co-Chairman of the Board and Co-Chief Executive Officer.
Here's a list of key executives and stock owners at Evercore:
- John Weinberg, Co-Chairman of the Board, Co-Chief Executive Officer
- Roger Altman, Founder, Senior Chairman and Director
- Ralph Schlosstein, Co-Chairman of the Board, Co-Chief Executive Officer
- Roger Charles Altman, Founder & Sr. Chairman
- Andrew Sibbald, Chairman of Evercore International
- Robert Walsh, Chief Financial Officer
- Edward S. Hyman Jr., Founder, Chairman & Head of Economic Research of Evercore ISI
What Does Evercore Do?
Evercore is a global independent investment banking advisory firm that helps clients achieve superior results through trusted and innovative advice.
The firm was founded in 1995 and is headquartered in New York.
Evercore assists clients in raising public and private capital.
It also delivers equity research and equity sales and agency trading execution.
In addition to these services, Evercore provides wealth and investment management services to high net worth and institutional investors.
The firm maintains offices and affiliate offices in major financial centers around the world.
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Evercore Inc Executives and Owners
Evercore Inc has a large team of executives and owners who have significant influence over the company. The most notable executives include John Weinberg, Co-Chairman of the Board and Co-Chief Executive Officer, and Ralph Schlosstein, Co-Chairman of the Board and Co-Chief Executive Officer.
The company also has several independent directors, including William Wheeler, Robert Millard, and Gail Harris. These directors provide guidance and oversight to the company's executives.
Some of the key executives at Evercore Inc include Roger Altman, Founder, Senior Chairman and Director, and Andrew Sibbald, Chairman of Evercore International. The company's Chief Financial Officer is Robert Walsh, and its Chief Financial Officer is also Timothy Gilbert La Londe.
Evercore Inc has a total of 35 executives and owners listed with the SEC, including several senior managing directors and directors. Here is a list of some of the key executives and owners:
- John Weinberg, Co-Chairman of the Board, Co-Chief Executive Officer
- Ralph Schlosstein, Co-Chairman of the Board, Co-Chief Executive Officer
- Roger Altman, Founder, Senior Chairman and Director
- Andrew Sibbald, Chairman of Evercore International
- Robert Walsh, Chief Financial Officer
- Timothy Gilbert La Londe, Chief Financial Officer
- William Wheeler, Independent Director
- Robert Millard, Independent Director
- Gail Harris, Lead Independent Director
- Kendrick Wilson, Independent Director
- Sarah Williamson, Independent Director
- Simon Robertson, Independent Director
- Willard Overlock, Independent Director
- Ellen Futter, Independent Director
- Richard Beattie, Independent Director
- Pamela Carlton, Independent Director
- John Scuorzo, Senior Managing Director - Capital Markets
- Joe Todd, Senior Managing Director
- Hallie Elsner, Head of Investor Relations
- Jason Klurfeld, General Counsel, Corporate Secretary
- Edward Hyman, Vice Chairman; Chairman of Evercore ISI
- Kristen Youngren, Managing Director of Legal & Compliance
- Katy Haber, Head of Investor Relations & ESG
- Hallie Elsner Miller, Head of Investor Relations
- Chris Turek, Sr. MD, Chief Information Officer & Head of Facilities
- Christopher Sanger, Managing Director
- Paul Pensa CPA, Sr. MD, Co-Director of Global Fin., Principal Accounting Officer & Controller
- Celeste Mellet Brown, Sr. MD & CFO
- Ostoa Augusto Arellano, CEO of EVR Mexico
- Adam B Frankel, General Counsel
- Saint Phalle Francois De, Director
- Curtis A Hessler, Director
- Anthony N Pritzker, Director
- Pedro Aspe, Co-Chairman and Director
- Thomas J Gavenda, Director
- Eduardo G Mestre, Vice Chairman
- David E Wezdenko, Chief Financial Officer
- Bernard J Taylor, Co-Vice Chairman
- Anthony N New World Opportu..., Director
- William Hiltz, Senior Managing Director
- Austin M Beutner, President, Co-CEO, CIO
- Wilard J Jr Overlock, Director
- Celeste M Brown, Chief Financial Officer
- Paul Pensa, Contr, Prin. Acct.Officer
- Timothy Gilbert La Londe, Chief Financial Officer
Biography and Facts
Roger Altman is a seasoned investment banker with a long and distinguished career. He formed Evercore in 1995 and served as its CEO until May 2009.
Altman began his investment banking career at Lehman Brothers in 1974, where he became a general partner. He later returned to Lehman Brothers and held various leadership positions, including co-head of overall investment banking and a member of the firm's management committee.
In addition to his work in investment banking, Altman has also held government positions, including serving as Assistant Secretary of the U.S. Treasury from 1977 to 1981. He later returned to government service as Deputy Secretary of the U.S. Treasury from 1993 to 1994.
Biography
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Roger Altman is a seasoned investment banker and former government official. He formed Evercore in 1995 and served as its CEO until May 2009.
Altman began his investment banking career at Lehman Brothers in an unspecified year, and by 1974, he had become a general partner of the firm. He then took a break to serve as Assistant Secretary of the U.S. Treasury for four years.
After his time in government, Altman returned to Lehman Brothers, where he became co-head of overall investment banking and a member of the firm's management committee and board. He remained in these positions until the firm was sold.
In 1987, Altman joined The Blackstone Group as vice chairman, head of its merger and acquisition advisory business, and a member of its investment committee. He also had primary responsibility for Blackstone's international business.
Altman returned to Washington in January 1993 to serve as Deputy Secretary of the U.S. Treasury for two years, before forming Evercore in 1995.
How Old Is?
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Roger Altman is 74 and has been the Founder and Senior Chairman and Director of Evercore Inc since 2016.
The oldest executive at Evercore Inc is Richard Beattie, who is 81 and serves as the Independent Director.
There are 5 executives at Evercore Inc who are older than Roger Altman, and 15 who are younger.
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Frequently Asked Questions
Who founded Evercore?
Roger Altman is the founder of Evercore. He also serves as the company's senior chairman.
Does Evercore have an M&A group?
Yes, Evercore has a dedicated M&A group that advises clients on complex transactions. They also offer board advisory and corporate governance services to support M&A activities.
Sources
- https://en.wikipedia.org/wiki/Roger_Altman
- https://charlierose.com/guests/2873
- https://www.barrons.com/podcasts/at-barrons/roger-altman-explains-how-evercore-is-a-pure-advisory-firm/44f5efc4-22c0-4e57-b8f0-9dc65d69f2c1
- https://millercenter.org/the-presidency/presidential-oral-histories/roger-altman
- https://wallmine.com/people/33263/roger-c-altman
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