The independent investment banking advisory firm based in the United States, Evercore, announced last week that Laurie Coben has joined the firm's investment banking business as a Senior Managing Director.
Ms. Coben will lead Evercore's efforts in the Power and Utilities sector in New York.
Ms. Coben was most recently a Managing Director and the Global Co-Head of the Energy & Power Investment Banking Group at Bank of America Merrill Lynch.
With over 30 years of investment banking experience and 21 years focused on the Power sector, she has advised clients on a number of notable strategic transactions, including advising PPL on its acquisitions of E.On's US business, AES on its acquisition of DPL, and Duke Energy on the acquisition of Progress Energy. She also advised Cinergy on its merger with Duke Energy and the combined company on the spinoff of Spectra Energy.
Roger Altman, Evercore's Executive Chairman said:
"We are pleased to have a banker with Laurie's track record and substantial experience join Evercore, helping us to develop our capabilities in the Power and Utilities sector. Laurie very much fits with our business model of developing long-term relationships with clients and having our most senior bankers actively leading the execution of transactions."
Ralph Schlosstein, Evercore's President and Chief Executive Officer said:
"We view the Power and Utilities industry as an important and evolving sector of our economy and as essential to the investor community. We already have a strong franchise in this area inEurope and this appointment is a natural expansion of our preeminent Energy and Infrastructure investment banking practices in the US. Our recent experience working with EFH on its restructuring, and advising the independent directors of several publicly-traded Yieldcos, are the latest examples of this growing business."
Ms. Coben commented:
"Evercore's focus on client service and on providing high-quality, differentiated and independent advice is well-known in the marketplace and highly valued by clients. As the Power and Utilities sector continues to evolve and respond to strategic opportunities that result from new technologies, changing regulation, environmental concerns, and changes in the commodity and capital markets, there will be increasing demand for Evercore's brand of customized, detailed and unbiased advice. I have worked with many senior members of the Evercore team, both across the table on transactions or as colleagues earlier in our careers. I am proud to be joining them."
Ms. Coben has a BA in History and Economics from Colgate University and an MBA from the Harvard Business School.