Evercore Nabs Bear Restructuring Chief

Daniel Celentano has joined Evercore Partners as a senior managing director in the firm's restructuring advisory practice. He previously was head of Bear Stearns' financial restructuring group.

PRESS RELEASE

Evercore Partners Inc. (NYSE: EVR) announced today that Daniel A. Celentano has joined the firm's restructuring advisory practice as a Senior Managing Director. He will be based in New York and join William Repko and David Ying in expanding Evercore's restructuring advisory business.

 

Mr. Celentano is a nationally recognized advisor to distressed companies and their stakeholders and acquirers, facilitating restructurings both out of court and in Chapter 11 cases. Previously he was a Senior Managing Director at Bear Stearns and formerly served as Head of its Financial Restructuring Group.

 

Mr. Celentano advised clients across a broad range of industries on corporate restructuring projects while at Bear Stearns, including: General Motors in the Delphi Chapter 11 case; Time Warner Cable in its acquisition of the assets of Adelphia while it was in Chapter 11; Andersen Worldwide in the restructuring and the distressed sale of Andersen Business Consulting to KPMG Consulting to form BearingPoint; and Zale Corporation and NVR L.P. in their respective Chapter 11 cases. In his new role at Evercore, Mr. Celentano will continue to advise General Motors, along with his colleagues in the restructuring group.

 

“We are pleased to welcome such a seasoned and highly respected industry veteran like Dan to Evercore,” said Roger C. Altman, Chairman and Chief Executive Officer of Evercore Partners. “This is a key hire for our firm. With restructuring in an up cycle, Dan's breadth of experience will be invaluable to our clients. We are looking forward to Dan's making a significant contribution to Evercore as we expand our advisory services, continue to build our restructuring practice, and deepen our industry expertise globally.”

 

Mr. Celentano brings extensive experience, relationships and industry knowledge to Evercore. Previously, he was a senior member of the team managing Bear Stearns Global Investment Banking Division and a member of the firm's Commitment, Principal Activities, and Valuation Committees. He also was a member of the Investment Committee for Bear Stearns Merchant Banking and Bear Growth Capital Partners.

 

“Evercore has established itself as a marquee player in the M&A and restructuring advisory business under Roger's leadership,” said Mr. Celentano. “I am especially excited about working alongside Bill Repko and David Ying, two of the most respected names in the restructuring business. I have enjoyed working closely with both of them for the better part of twenty five years and I am looking forward to contributing to Evercore's continued success in the M&A and restructuring advisory business.”

 

Mr. Celentano, 57, holds an M.B.A. in Finance from The Wharton School of the University of Pennsylvania and a B.A. with Honors from the College of the Holy Cross. He has served as a member of the Board of the Turnaround Management Association and presently serves as Vice President and Trustee of Hackley School in Tarrytown, New York.

 

About Evercore Partners

 

Evercore Partners is a leading investment banking boutique and investment firm. Evercore's Advisory business counsels its clients on mergers, acquisitions, divestitures, restructurings and other strategic transactions. Evercore's Investment Management business manages private equity funds and provides traditional asset management services to sophisticated institutional investors. Evercore serves a diverse set of clients around the world from its offices in New York, San Francisco, London, Mexico City and Monterrey, Mexico. More information about Evercore can be found on the Company's Web site at www.evercore.com. EVR-N