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 (NYSE: LAZ) announced that CEO Peter R. Orszag will participate in a fireside chat at the Goldman Sachs U.S. Financial Services Conference in New York. The event is scheduled for Tuesday, December 10, 2024, at 9:20 a.m. EST.
The company will provide a live audio webcast through their Investor Relations website at www.lazard.com, with a replay available shortly after the conference concludes.
Lazard (NYSE: LAZ) has appointed Jennifer Tedesko as Managing Director within its Private Capital Advisory business in San Francisco. The expansion includes adding a Director for private equity distribution and transferring a PCA professional from London. This strengthens Lazard's West Coast presence, making it the second-largest U.S. hub for private equity client advisory. Tedesko brings over 25 years of private equity advisory experience, previously serving as Managing Director at Campbell Lutyens and Partner at Atlantic Pacific Capital. The firm has recently advised on several West Coast deals, including Kingswood Capital Management Funds and Pacific Avenue Capital Partners I.
Lazard (NYSE: LAZ) reported preliminary assets under management (AUM) of $235.8 billion for October 31, 2024. The month saw significant decreases across multiple factors: $4.4 billion in market depreciation, $4.2 billion in foreign exchange depreciation, and $3.3 billion in net outflows. The AUM breakdown includes $182.1 billion in Equity, $45.5 billion in Fixed Income, and $8.2 billion in Other assets, showing a decline from September's total AUM of $247.7 billion.
Lazard (NYSE: LAZ) reported strong Q3 2024 results with net revenue of $785 million and adjusted net revenue of $646 million. Financial Advisory revenue increased 39% year-to-date, while Asset Management saw 8% growth in AUM compared to last year. The company's Q3 2024 net income was $108 million ($1.02 per share), with adjusted net income of $40 million ($0.38 per share). Assets Under Management reached $248 billion, driven by market appreciation of $9.4 billion and foreign exchange appreciation of $6.0 billion, despite net outflows of $12.4 billion.
Lazard (NYSE: LAZ) has announced that its Board of Directors has declared a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend will be paid on November 15, 2024, to shareholders recorded as of November 8, 2024.
Lazard (NYSE: LAZ) announced that its subsidiary Lazard Group will redeem all outstanding 3.750% Senior Notes due February 13, 2025, on December 12, 2024. The Notes, issued under the Indenture dated May 10, 2005, have an outstanding principal amount of $164,347,000. The redemption will be executed at a make-whole redemption price calculated according to the Indenture terms. Interest on the Notes will cease to accrue from the redemption date.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.14941 per share on its outstanding common stock, payable on November 22, 2024 to shareholders of record on November 12, 2024. The distribution is 100% from Net Realized Long-Term Capital Gains.
The Fund's average annual total return for the 5-year period ending September 30, 2024, was 10.28%. The annualized current distribution rate is 9.40% of NAV. For the fiscal year through September 30, 2024, the Fund's cumulative total return was 12.79%, with cumulative fiscal year distributions at 5.64% of NAV.
The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of 60 to 80 US and non-US equity securities, emerging market currencies, and debt obligations.
Lazard (NYSE: LAZ) has announced the appointment of Fabien Antignac as Managing Director and Co-Head of European Debt Advisory and Capital Solutions, effective 4th November 2024. Antignac will join existing Co-Heads François Guichot-Pérère and Tom Howard to lead the European team, focusing on expanding services in debt advisory, capital solutions, and liability management.
With over 30 years of experience in public and private debt markets, Antignac's appointment strengthens Lazard's commitment to meeting client financing and capital structure needs. He joins from UBS, where he was a senior Managing Director in the Leverage Finance Team. Previously, he spent 25 years at Credit Suisse First Boston, holding various leadership positions including Global Co-Head of Leverage Finance Origination and Head of EU Leverage Finance.
Lazard (NYSE: LAZ) has announced that Will Thompson will join the firm as Managing Director, Healthcare on November 4, 2024. Based in London, Thompson will be part of Lazard's financial advisory practice for Europe and its global healthcare group. This appointment marks Thompson's return to Lazard, where he previously worked from 1998 to 2004.
Thompson joins from Barclays, where he was Managing Director and Head of European Healthcare for nearly a decade. His appointment, along with Michele Colocci's recent hiring as Vice Chairman, Investment Banking and Managing Director, Healthcare, underscores Lazard's commitment to strengthening its product and sector teams.
Lazard's global healthcare business has experienced significant growth, advising on transactions worth over $245 billion since 2020. The firm's healthcare team operates across 22 countries, reinforcing its position as a leading global franchise in the sector.
Lazard (NYSE: LAZ) has announced it will release its third-quarter and nine-month 2024 financial results on Thursday, October 31, 2024. The press release will be available on Lazard's website in the News & Announcements section. Following the release, Lazard will host a conference call at 8:00 a.m. ET to discuss the financial results.
Investors can access the call via a live audio webcast on Lazard's website or by dialing in using the provided toll-free and international numbers. A replay of the conference call will be available from 10:00 a.m. ET on the same day through Lazard's website or by phone using the given replay numbers.
FAQ
What is the current stock price of Lazard (LAZ)?
What is the market cap of Lazard (LAZ)?
What services does Lazard, Inc. provide?
Where does Lazard operate?
What is the history of Lazard, Inc.?
Who are Lazard’s primary clients?
How is Lazard's revenue distributed geographically?
What is the focus of Lazard’s asset management business?
How many employees does Lazard have?
Where can I find Lazard's social media disclosures?
What makes Lazard a leader in financial services?
How can I stay updated with Lazard’s latest news?
