Evercore Partners, the independent investment bank and asset management firm that went public in 2006, said payments to its founders following its initial public offering coupled with the costs of recruiting during rapid expansion pushed it to a full-year loss of $34.5m (€23.7m).

Net revenues rose 53.4% to $322m last year compared with the previous year, but was offset by employee and compensation benefits expenses of $299m, or 93.1% of net revenues.