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Business Developments, Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization
 9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Special Charges, Including Business Realignment Costs and Intangible Asset Amortization [Text Block] Business Developments, Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization
Business Developments
Sale of ECB Trust Business - On July 2, 2020, the Company completed the sale of the trust business of Evercore Casa de Bolsa, S.A. de C.V. ("ECB") (the "ECB Trust Business"), which was a part of its Investment Management segment, for a purchase price of MXN 39,500 ($1,830). As a result of this transaction, the Company deconsolidated assets of $475, representing an allocation of goodwill based on the relative fair value of the business being sold to the total fair value of the Institutional Asset Management reporting unit. This transaction resulted in a pre-tax gain of $1,355 included in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020.
Special Charges, Including Business Realignment Costs
The Company recognized $7,380 and $39,614 for the three and nine months ended September 30, 2020, respectively, as Special Charges, Including Business Realignment Costs. For the three and nine months ended September 30, 2020, these costs include $7,253 and $37,558, respectively, for separation and transition benefits and related costs as a result of the Company's review of its operations, described below, and $127 and $2,056, respectively, for the acceleration of depreciation expense for leasehold improvements and certain other fixed assets in conjunction with the expansion of the Company's headquarters in New York and the Company's business realignment initiatives.
In the first quarter of 2020, the Company substantially completed a review of operations focused on markets, sectors and people which have delivered lower levels of productivity in an effort to attain greater flexibility of operations and better position itself for future growth. This review, which began in the fourth quarter of 2019, will generate reductions of approximately 8% of the Company's headcount. In conjunction with the employment reductions, the Company is expected to incur aggregate separation and transition benefits (including costs related to the acceleration of deferred compensation) and related costs of approximately $43,000, $37,558 of which has been recorded in Special Charges, Including Business Realignment Costs, in the first nine months of 2020, and $2,850 of which was recorded in 2019. The Company's estimates of charges are based on a number of assumptions. Actual results may differ materially if actual activity deviates from these assumptions.
In connection with its business realignment initiatives, in April 2020, the Company entered into an agreement for the leaders of its business in Mexico to purchase ECB, the Company's Mexico based broker-dealer focused principally on providing Investment Management services, for a purchase price of MXN 35,000. This sale will be completed following regulatory approval. In addition, in October 2020 the Company announced the decision to transition its advisory presence in Mexico to a strategic alliance relationship with a newly-formed independent strategic advisory firm founded by certain former employees.
The Company recognized $1,029 and $3,087 for the three and nine months ended September 30, 2019, respectively, as Special Charges, Including Business Realignment Costs, incurred related to the acceleration of depreciation expense for leasehold improvements in conjunction with the expansion of the Company's headquarters in New York.


Intangible Asset Amortization
Expense associated with the amortization of intangible assets for Investment Banking was $169 and $1,183 for the three and nine months ended September 30, 2020, respectively, and $2,190 and $6,570 for the three and nine months ended September 30, 2019, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations. Expense associated with the amortization of intangible assets for Investment Management was $105 and $318 for the three and nine months ended September 30, 2020, respectively, and $109 and $328 for the three and nine months ended September 30, 2019, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations.