Greenhill and Evercore bosses raise $300m by flogging company shares
BOSSES at investment banks Greenhill and Evercore Partners have taken advantage of rocketing markets by selling off tranches of their company stock, raising $300m (£182m) in total.
The top four staff at Greenhill have raised $142m and the top three staff at Evercore have raised $18.3m, according to filings.
Goldman Sachs benefited after bookrunning both share sales, netting fees of $7.4m from the Greenhill sale alone, according to filings made with US markets regulator the Securities and Exchange Commission.
At the end of July, Greenhill bosses launched a share offer at $76 per share, a 5.1 per cent discount on the previous day’s closing price of $80. The share sellers took away $73.53 per share and Goldman pocketed the difference.
Founder and chairman Robert Greenhill walked away with $76m, according to the filings.
Greenhill’s London-based co-chief executive, Simon Borrows, raised $24m and also transferred shares to St Catherine’s School, an independent school for girls in Surrey.
Scott Bok, the other co-chief executive, raised $24m while the chairman of Greenhill Capital Partners, Robert Niehuas, raised $17.8m.
At Evercore Partners, a share sale netted $61.5m in total.
Founder and chairman Roger Altman trousered $9.6m, co-chairman Pedro Aspe raised $5.1m and Eduardo Mestre, vice chairman at the firm, banked $3.6m, the filings show.