Evercore Partners has appointed Steve Wellington as a Senior Managing Director in the firm’s investment banking business based in London, focusing on financial restructuring, distressed M&A and debt advisory.
Randolph Sesson has also agreed to join the firm’s Investment Banking business as a Senior Managing Director, also based in London, where he will be Head of European Transportation.
Wellington has specialised in financial restructuring advisory and leveraged finance underwriting for the past 16 years. He worked at Bank of America Merrill Lynch from 1999 to 2012, most recently as Head of Restructuring Advisory EMEA where he advised a wide range of corporate clients and stakeholders on recapitalisation strategies and distressed M&A. Prior to that he was Co-head of European Leveraged Finance and was a senior member of the Financial Sponsors Group. Wellington will work closely with our industry coverage bankers, as well as our Restructuring team in New York, which is led by David Ying.
Sesson was most recently a Managing Director and Head of European Transportation and Infrastructure within the Investment Banking Division at Morgan Stanley & Co’s London office. Prior to joining Morgan Stanley in 2006, he worked at Goldman Sachs in a variety of senior roles in Europe, the US and Asia, and was Head of European Transportation there from 2000 to 2006. Sesson has advised airline, bus and rail, shipping, aviation and logistics companies, and has also provided advisory and financing services to related transportation infrastructure companies in the airport, port and toll road sectors. Recent transactions include representing Iberia in its merger with British Airways, Lufthansa in the sale of bmi to IAG, N-Trans Group in its IPOs of Globaltrans and Global Ports, DFDS in its acquisition of Norfolklines from AP Moller, and KKR in its acquisition of UN RoRo. Sesson will work closely with Evercore’s existing Transportation advisory group based in New York and led by George Ackert.
“We’re extremely pleased to welcome Steve to Evercore, as his hiring represents the first step in building a restructuring advisory capability in London. Evercore is a leading restructuring adviser in the US and we have already established a presence in Europe having advised Greece-based Danaos Corporation on its comprehensive restructuring and we are currently advising Denmark-based Torm A/S and Kuwait-based Global Investment House. We believe there is a significant opportunity for us to develop a similar franchise in EMEA,” says Andrew Sibbald, CEO of Evercore’s European advisory business.
Ralph Schlosstein, Evercore’s President and CEO, says: “Steve’s appointment demonstrates our continuing commitment to globalizing our advisory business and particularly our restructuring practice. His presence will expand and deepen our ability to serve restructuring clients in EMEA out of our London office.”
Andrew Sibbald, CEO of Evercore’s European advisory business, says: “Randy’s appointment is great news for Evercore in London as we continue to build-out the platform here. We’re delighted to be adding transportation to our existing industry specialisations in financial institutions, utilities & infrastructure, energy and metals & mining, as well as our strong advisory capabilities in general M&A and restructuring.
