Evercore Inc. (NYSE:EVR) Q4 2014 Earnings Conference Call - Final Transcript
Feb 04, 2015 • 08:00 am ET
Welcome to the Evercore Fourth Quarter and Full Year 2014 Financial Results Conference Call. [Operator Instructions] This conference c all is being recorded today, Wednesday, February 4, 2015.
I would now like to turn the conference over to your host Evercore's Chief Financial Officer, Bob Walsh. Please go ahead, sir.
Good morning, and thank you for joining us today for Evercore's fourth quarter and full year 2014 financial results conference call. I am Bob Walsh, Evercore's Chief Financial Officer. And joining me on the call today are Ralph Schlosstein, President and Chief Executive Officer and Roger Altman, our Chairman. After our prepared remarks, we will open up the call for questions. Earlier today, we issued a press release announcing Evercore's fourth quarter and full year 2014 financial results. The company's presentation today is complementary to that press release, which is available on our website at evercore.com.
This conference call is being webcast live on the Investor Relations section of the website and an archive of it will be available beginning approximately 1 hour after the conclusion of this call for 30 days. I want to point out that during the course of this conference call, we may make a number of forward-looking statements. These forward-looking statements are subject to various risks and uncertainties and there are important factors that could cause actual outcomes to differ materially from those indicated in these statements.
These factors include, but are not limited to those discussed in Evercore's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K. I want to remind you that the company assumes no duty to update any forward-looking statements. In our presentation today, unless otherwise indicated, we will be discussing adjusted pro forma or non-GAAP financial measures which we believe are meaningful when evaluating the company's performance.
For detailed disclosures on these measures and their GAAP reconciliations, you should refer to the financial data contained within our press release, which as previously mentioned, is on our website. We will refrain from repeating the information included in the press release and then focus instead on the key opportunities, challenges and changes in our business. We continue to believe that it is important to evaluate Evercore's performance on an annual basis. As we have noted previously, our results for any particular quarter are influenced by the timing of transaction closings.
I will now turn the call over to Ralph.
Thank you, Bob, and good morning, everyone. 2014 was another record year for Evercore, our sixth consecutive year of significant growth in net revenues and earnings. We once again made significant progress on our strategic objectives. While not all of our competitors have reported their results yet, we expect to gain market share again in advisory revenues, our seventh consecutive year of market share gains. The productivity of our advisory partners improved by nearly 8% to approximately $11 million of revenue per advisory Senior Managing Director. We recruited