Welcome to our dedicated page for Lazard news (Ticker: LAZ), a resource for investors and traders seeking the latest updates and insights on Lazard stock.
Lazard, Inc. (symbol: LAZ) is one of the world’s leading financial advisory and asset management firms. With a history that dates back to 1848, Lazard operates in 43 cities across 27 countries, including North America, Europe, Asia, Australia, Central, and South America. The firm's global presence and long-standing reputation make it a significant player in the financial services industry.
Lazard offers a wide array of services, including advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance. The company also provides comprehensive asset management services to corporations, partnerships, institutions, governments, and individuals. Notably, the firm’s revenue is nearly evenly split between financial advisory and asset management, with a strong emphasis on international equities in their asset management division.
The company's asset management business, which constitutes over 80% of its assets under management, is primarily focused on institutional clients. Geographically, Lazard generates approximately 60% of its revenue from the Americas, 35% from the EMEA region, and 5% from the Asia-Pacific.
With over 3,000 employees worldwide, Lazard continues to thrive by leveraging its deep industry expertise and global network. The firm's current projects and partnerships demonstrate its ongoing commitment to delivering high-value financial solutions. For the latest updates and relevant information about Lazard’s performance, events, and developments, you can follow their social media disclosures.
Lazard Global Total Return and Income Fund (NYSE:LGI) has confirmed its monthly distribution of $0.14646 per share on the Fund's outstanding common stock, payable on February 21, 2025, to shareholders of record on February 10, 2025. The distribution represents a 100% return of capital.
Key performance metrics include:
- 5-year average annual total return (NAV): 7.66%
- Annualized current distribution rate: 10.20% of NAV
- Fiscal year cumulative total return: 6.51%
- Fiscal year distributions: 8.67% of NAV
The Fund invests in a portfolio of 60-80 US and non-US equity securities, focusing on companies with market capitalizations above $2 billion. It also includes investments in emerging market currencies and debt obligations. As of December 31, 2024, Lazard Asset Management and affiliated companies managed $226.3 billion in client assets.
Lazard (NYSE: LAZ) reported preliminary assets under management (AUM) of $226.3 billion as of December 31, 2024. The month saw significant changes including:
- Net outflows of $4.5 billion (including $3.3 billion from two concentrated sub-advisory relationships)
- Foreign exchange depreciation of $2.5 billion
- Market depreciation of $1.1 billion
The AUM breakdown shows:
- Equity: $174.9 billion
- Fixed Income: $43.3 billion
- Other: $8.1 billion
The preliminary average AUM for Q4 2024 was $233.8 billion, compared to total AUM of $234.4 billion in November 2024.
Lazard (NYSE: LAZ) has scheduled the announcement of its fourth-quarter and full-year 2024 financial results for Thursday morning, January 30, 2025. The company will host a conference call at 8:00 a.m. ET on the same day to discuss these results. The call will be accessible via a live audio webcast through Lazard's Investor Relations website section, or by phone using specific dial-in numbers for U.S./Canada (toll-free: 1-800-445-7795) and international callers (+1 785-424-1699) with conference ID: LAZQ424.
A replay of the conference call will be made available from 10:00 a.m. ET on January 30, 2025, through Lazard's website or via phone replay numbers.
Lazard (NYSE: LAZ) has expanded its Media, Entertainment & Sports group with three key appointments. Stephen Finkel joins as Managing Director and Global Head of Sports Advisory in New York, alongside Manoel Carvalho as Managing Director and Bryan Tannenbaum as Vice President.
Finkel, previously Senior Managing Director at Guggenheim Securities leading their sports advisory practice, brings experience from Rothschild & Co and Credit Suisse. He also serves as an Adjunct Associate Professor at NYU's Stern School of Business. Carvalho joins from Guggenheim Securities, where he focused on sports, media, and entertainment, having previously worked at Rothschild & Co and Deloitte.
These appointments follow the addition of Ben Braun as Global Head of Media, Entertainment & Sports, supporting Lazard's long-term growth strategy. Braun highlighted sports' development as a unique global asset class, emphasizing strong fan engagement in a fragmented content ecosystem.
Lazard Global Total Return and Income Fund (NYSE:LGI) has announced its monthly distribution of $0.14646 per share, representing a 10% annualized rate based on the Fund's net asset value as of December 31, 2024. The distribution will be payable on January 22, 2025, to shareholders of record on January 10, 2025.
The Fund focuses on total return through capital appreciation and current income, investing in a portfolio of 60 to 80 US and non-US equity securities with market capitalizations typically above $2 billion. The investment strategy includes emerging market currencies and debt obligations. The Fund is managed by Lazard Asset Management (LAM), which oversees $234.4 billion in client assets as of November 30, 2024.
Lazard Global Total Return and Income Fund (NYSE:LGI) has announced its monthly distribution of $0.14941 per share, payable on January 22, 2025, to shareholders of record on January 10, 2025. The distribution comprises 100% net realized long-term capital gains. For the fiscal year to date, distributions total $1.52400 per share, consisting of 94% long-term capital gains and 6% return of capital.
The Fund's performance metrics include a 9.21% average annual total return over the past 5 years, a 9.79% annualized distribution rate, and a 10.08% cumulative total return for the fiscal year through November 30, 2024. The Fund invests in 60-80 US and non-US equity securities, focusing on companies with market capitalizations above $2 billion, and includes emerging market investments.
Lazard (NYSE: LAZ) has successfully received the required consents from holders of its subsidiary Lazard Group 's senior notes to modify the Indenture agreement. The consent solicitation covers four series of notes with varying interest rates (3.625% to 6.000%) and maturities (2027-2031), totaling $1.7 billion in aggregate principal amount.
Holders who provided valid consents before the December 11, 2024 deadline will receive $1.50 per $1,000 principal amount. The amendments will allow parent entity Lazard to file reports instead of Lazard Group when guaranteeing securities, and provide for Lazard's guarantees of the Notes.
Lazard (NYSE: LAZ) reported preliminary assets under management (AUM) of $234.4 billion for November 2024. The month's performance showed mixed results with $3.0 billion in market appreciation offset by $2.3 billion in net outflows and $2.2 billion in foreign exchange depreciation.
The AUM breakdown includes $181.8 billion in Equity, $44.5 billion in Fixed Income, and $8.1 billion in Other assets. These figures represent a slight decrease from October 2024's total AUM of $235.8 billion.
Lazard (NYSE: LAZ) has initiated a consent solicitation for amendments to the indenture governing four series of senior notes issued by Lazard Group , its wholly owned subsidiary. The notes include:
- 3.625% Senior Notes Due 2027 ($300M)
- 4.500% Senior Notes Due 2028 ($500M)
- 4.375% Senior Notes Due 2029 ($500M)
- 6.000% Senior Notes Due 2031 ($400M)
The proposed amendments would allow parent entity Lazard to file required reports instead of Lazard Group. Noteholders who provide valid consents before December 11, 2024, will receive $1.50 per $1,000 principal amount. Lazard will guarantee the payment of amounts owed to noteholders, with these guarantees ranking pari passu with Lazard's other unsecured unsubordinated obligations.
Lazard (NYSE: LAZ) announces key leadership changes effective January 1, 2025. Dan Schulman has been appointed as Lead Independent Director, succeeding Richard D. Parsons, while CEO Peter R. Orszag will become Chairman of the Board. Kenneth M. Jacobs will transition from Executive Chairman to Senior Chairman of the Firm and Senior Advisor to the Board, stepping down from his board seat on December 31, 2024. These changes represent the culmination of a multi-year succession planning process. In his new role, Jacobs will continue advising key clients globally while Orszag will lead the implementation of the company's Lazard 2030 vision.
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