For over four decades, Ralph Schlosstein has been a notable figure in investment banking. He has worked in many roles, including Managing Director at Lehman Brothers, President of HighView Investment Group, and President and CEO of Evercore. In addition to his business achievements, he has also been an important donor to his alma mater, Denison University.
After graduating from Denison University with a Bachelor of Arts in economics, he earned a Master of Public Policy at the University of Pittsburgh. From 1976 to 1977, he served in the White House as an associate director of the domestic policy staff of the United States government under the Carter administration.
After working as an economist for the Joint Economic Committee of Congress during the Ford administration, he joined the Treasury Department in 1978. He was a deputy assistant secretary of urban finance from 1974 to 1981. During this time, he also participated in the Higher Ground Campaign Feasibility Study. As part of his career, he served as a trustee of the American Museum of Natural History and the Trinity School in New York City, as well as the Public Theater in New York City.
Before founding BlackRock in 1988, Schlosstein was a partner at the investment bank Lehman Brothers. He was a member of the investment committee and the executive committee of the firm. During his tenure as President, he led the firm to become the largest asset manager in the world.
Before becoming the CEO of Evercore, Schlosstein was Co-Chairman of the board of directors. Since February 2022, he has been Chairman Emeritus of the firm. His salary is $7,312,900, and he has a net worth of $173 million. At the end of 2020, he owns 226,248 shares of Evercore Inc. and has a mailing address that is filed with the SEC.
Today, Evercore is an independent investment bank with a global presence and over a billion in revenue. Evercore has a total of 1,950 employees at the end of 2021. The company’s revenue comes from financial advisory services, institutional equities, and asset management businesses. Its growth has been phenomenal over the past decade. In 2010, it had a revenue of several hundred million dollars.
After a decade of success, the firm has a vision for the future, and has plans for the next fifteen years. Seventy-five percent of the firm’s revenues come from the United States. However, the firm operates in 30 countries and has 70 offices. With this growth in mind, the executives of Evercore have a 15-year plan. They aim to become the world’s largest independent investment banking advisory firm.
On the other hand, he has given back to his alma mater by helping establish an Endowed Scholarship in honor of his wife, Jane. The scholarship is named the Ralph L. and Jane Hartley Scholarship. A portion of the money goes to scholarships for students at Denison.
Not only does he serve on the Executive Committee of the John F. Kennedy School of Government at Harvard, he is also a member of the Council on Foreign Relations. Another example of his charitable activities is his support of New Visions for Public Schools. Through the organization, he provides educational tools to 75 high needs public schools in New York.