NEW YORK — Four former Sanford C. Bernstein & Co. veterans have reunited to form an institutional value equity boutique.
Evercore Asset Management, New York, will be led by Gregory Sawers, Andrew Moloff, Gail Landis and Margot Nones. They will hold a majority stake in the firm; Evercore Partners Inc., a New York-based private equity and advisory firm, will take a minority stake. The sizes of the respective holdings were not disclosed.
The founders worked together for years at Bernstein until shortly after Alliance Capital Management LP completed its acquisition of the firm, and each left for brief stints at other asset managers in New York,.
In an interview at their new midtown office, the four said they began working last summer to launch their own investment management operation so they could focus exclusively on managing money for institutional investors, without the distractions that can come with being part of a large financial institution.
The firm's investment operations will be steered by Mr. Sawers, chief executive officer of Evercore Asset Management, and Mr. Moloff, chief investment officer. Mr. Sawers was managing director and global co-head of equities and global head of research at Credit Suisse Asset Management and the former director of buy-side equity research at Sanford C. Bernstein. Mr. Moloff was managing director and head of global equity research and head of U.S. equity portfolio management at Citigroup Asset Management and former chief investment officer and director of research for small-cap and midcap equities at Bernstein.
Ms. Landis, EAM's senior managing director, will head the firm's marketing. She was managing director and head of Americas distribution for Credit Suisse Asset Management, and former senior portfolio manager and head of global consultant relations at Sanford C. Bernstein.
Ms. Nones is EAM's chief operating officer. She was managing director and head of operations for the Americas at UBS Global Asset Management after leaving her position as head of investment operations at Bernstein.
The firm is adding analyst and sales positions and plans to have a staff of 12 to 14 employees in the next few months.