Lazard Appoints Peter Harrison to Board of Directors

Rhea-AI Summary

Lazard (NYSE: LAZ) has appointed Peter Harrison to its Board of Directors, effective immediately. Harrison brings over 35 years of investment management experience, most recently serving as Group CEO of Schroders plc from 2016 to 2024.

During his tenure at Schroders, Harrison led the firm to more than double its assets under management to over £750 billion, expanding into private markets and wealth management, including a strategic joint venture with Lloyds Banking Group. His background includes senior positions at J.P. Morgan, Deutsche Asset Management, and leadership roles at RWC Partners

The appointment aligns with Lazard's strategy to strengthen and diversify its asset management business. Harrison has also served on the UK Treasury's Asset Management Taskforce and Capital Markets Industry Taskforce, and currently chairs Business in the Community.

Positive

• Appointment of seasoned executive with 35 years of investment management experience
• Strategic expertise in growing AUM (doubled Schroders' AUM to £750 billion)
• Strong track record in private markets and wealth management expansion
• Extensive global network and regulatory experience

Negative

• None.

Board Leadership Reinforces Lazard’s Asset Management Strategy

NEW YORK--(BUSINESS WIRE)-- Lazard, Inc. (NYSE: LAZ) today announced that Peter Harrison has been appointed to its Board of Directors, effective today. Mr. Harrison has more than 35 years of experience in investment management, most recently serving as Group CEO of Schroders plc, a global investment manager and FTSE 100 company, from 2016 until his retirement in 2024. This appointment reinforces Lazard’s focus on further strengthening and diversifying its asset management business.

“We are excited to welcome Peter to our Board of Directors, where his experience is particularly valuable as we further strengthen our asset management business,” said Peter R. Orszag, CEO and Chairman of the Board. “Peter exemplifies the world-class leadership we attract to Lazard, and his network of relationships in the U.K. and globally will help us advance our long-term growth strategy.”

“I am honored to join Lazard’s Board of Directors and help advise the company on its growth ambitions. Lazard is a renowned firm that is clearly at an inflection point as it continues to evolve to meet client needs. I look forward to contributing to this evolution and helping to realize the vision for Lazard’s future,” said Mr. Harrison.

Mr. Harrison is an accomplished global executive. As Group CEO of Schroders, the firm’s assets under management more than doubled to over £750 billion under his leadership, reflecting an evolution of the business into private markets and wealth management that included a transformative joint venture with Lloyds Banking Group. His prior experience also includes senior roles at J.P. Morgan and Deutsche Asset Management, and CEO and later Chairman of RWC Partners Limited. Mr. Harrison has served as a founding member of the UK Treasury’s Asset Management Taskforce and the Capital Markets Industry Taskforce, and he is Chair of Business in the Community, the King’s responsible business charity.

“Peter is an excellent addition to our Board, bringing extensive experience in asset management that will complement our current leadership and oversight,” said Dan Schulman, Lead Independent Director of Lazard’s Board. “Following the expansion of our Board last year, Peter’s appointment demonstrates our ongoing investment in building for Lazard’s future.”

About Lazard

Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit www.lazard.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20250303778851/en/

Media Relations

Aziz Nayani

+1 212-632-6042

aziz.nayani@lazard.com

Investor Relations

Alexandra Deignan

+1 212-632-6886

alexandra.deignan@lazard.com

Source: Lazard, Inc.

FAQ

What impact will Peter Harrison's appointment have on Lazard's (LAZ) asset management strategy?

Harrison's appointment reinforces Lazard's focus on strengthening its asset management business, bringing expertise from growing Schroders' AUM to £750 billion and experience in private markets and wealth management.

What are Peter Harrison's key achievements before joining Lazard's (LAZ) board?

As Schroders' CEO (2016-2024), Harrison doubled AUM to £750 billion, led expansion into private markets, and executed a major joint venture with Lloyds Banking Group.

How does Peter Harrison's appointment align with Lazard's (LAZ) growth strategy?

Harrison's global network and experience in asset management align with Lazard's long-term growth strategy and focus on evolving to meet client needs.

What regulatory experience does Peter Harrison bring to Lazard's (LAZ) board?

Harrison served on the UK Treasury's Asset Management Taskforce and Capital Markets Industry Taskforce, bringing significant regulatory and industry expertise.