Evercore, Kotak Investment Banking refute reports of ending decade-old alliance

Evercore Inc and Kotak Investment Banking spokespersons Wednesday refuted the claims made in a report published a day ago that said that the former company is considering calling off an exclusive tie-up on mergers and acquisitions advisory services with billionaire Uday Kotak’s investment banking unit.

“Throughout our decade-plus alliance with Kotak, we have and will continue to provide high-quality, objective advice using our combined expertise and strong knowledge of global and local markets,” a spokesperson for Evercore said in a statement with Kotak.

Kotak Investment Banking’s spokesperson said, “We have had a strategic alliance with Evercore since 2011 for cross-border advisory services between US, UK & India, and we will continue to collaborate and leverage our respective expertise to provide best-in-class advisory services to our clients.”