(Bloomberg) -- Evercore Inc.’s Chief Executive Officer John Weinberg said companies are ready to resume deal-making activity that’s been mired in a prolonged slump — but they’re just waiting for the right moment to strike. 

“I believe the market is ready, I believe the companies are ready, the question is when the starting gun goes off,” Weinberg said Tuesday at the Goldman Sachs Group Inc. financial services conference. The investment bank said companies are asking it about potential deals and market receptivity as activity ramps up, he said. 

Still, a fully-fledged rebound might take a few quarters to arrive as confidence rebuilds — and a few larger deals will likely unleash that wave. “No board wants to announce a deal and see their stock get crushed,” Weinberg said.

Evercore is adding “high-quality people” and seeking opportunities to expand overseas as it grows its business, said Weinberg. Still, the bank is being disciplined about headcount and expects its compensation ratio to come down, he said. The executive spent more than three decades at Goldman Sachs Group Inc. before joining the New York-based boutique bank.

Read More: Lazard CEO Orszag to Add Ten MDs a Year In Strategy Push

©2023 Bloomberg L.P.