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Evercore faces restatement on first quarterly results

Evercore Partners has said it expects "significant change" to its third quarter results, the first since the boutique investment bank went public in August, because of repurchase agreements struck by its Mexican subsidiary.

Evercore reported an increase in revenues of 57% to $130.8m (€102.2m) for the nine months to the end of September, on the back of a boom in the bank's core advisory business. The bank said it expects a significant change in the third quarter because of restatements.

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