Jan 20 (Reuters) - Investment banking and brokerage firm Evercore Inc said on Friday it has appointed insider Timothy LaLonde as its new chief financial officer, effective March 6.

The leadership change comes at a difficult time for Wall Street's investment banks which have seen a turn in fortunes over the last year as investor appetite for deals has been hit by market volatility and rapidly rising interest rates.

Evercore shares have gained nearly 13% this month, as of last close. Last year, they lost nearly 20% as the Federal Reserve's rate hikes shook the economy.

LaLonde, 61, currently serves as the New York-based bank's co-head of U.S. advisory business.

In the new role, LaLonde will receive total compensation of $6.5 million for fiscal year 2023, including an annual base salary of $500,000, the bank disclosed in a regulatory filing.

He is succeeding Celeste Mellet, who is leaving the bank to pursue a different area of finance, Evercore said.

Paul Pensa, the bank's principal accounting officer, will serve as interim finance chief until LaLonde's appointment becomes effective. (Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)