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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 Ltd (NYSE: LAZ) will announce its first-quarter 2023 financial results on April 28, 2023, with a press release available on its website. The company will host a conference call at 8:00 a.m. EDT on the same day to discuss the results. Investors can access the call through a live audio webcast or by dialing designated numbers for U.S. and international participants. A replay of the call will be available by 10:00 a.m. EDT on April 28. Lazard, celebrating its 175th anniversary, is a global financial advisory and asset management firm, operating in 43 cities across 26 countries. The firm provides advice on mergers, acquisitions, restructuring, and capital solutions, among other services.
Lazard Ltd (NYSE: LAZ) reported a preliminary total of $224.2 billion in assets under management as of February 28, 2023. The report highlighted a $2.8 billion market depreciation and $2.9 billion foreign exchange depreciation. Additionally, Lazard faced $0.8 billion in net outflows for the month.
For context, the total AUM at the end of January 2023 was approximately $230.6 billion, indicating a decline attributed to various external factors affecting investment performance.
Lazard Ltd (NYSE: LAZ) has appointed Raymond J. McGuire as President, effective April 3, 2023. McGuire will be based in New York and aims to enhance senior client relationships, attract top talent, and expand the firm's global reach. With a vast experience in investment banking, McGuire has advised on over $750 billion in transactions. He previously held senior roles at Citigroup and Morgan Stanley. Chairman Kenneth M. Jacobs expressed confidence in McGuire's leadership capabilities, reinforcing Lazard's commitment to excellence in financial advisory and asset management.
Lazard Asset Management (LAM) has acquired Truvvo Partners, a U.S. firm with $3.8 billion in Assets Under Management (AUM), enhancing LAM's service offerings in wealth management. The new entity, Lazard Family Office Partners, will manage approximately $8 billion, integrating diverse investment management and advisory services. This acquisition is timely, as demand for sophisticated wealth management solutions grows. With this move, LAM aims to further solidify its position in the wealth management sector, ultimately boosting its AUM to about $22 billion, including European assets.
Lazard Asset Management has appointed Larry Cohen as Managing Director and Global Head of Technology & Operations, effective immediately. Cohen has extensive experience in the asset management sector, having previously worked at firms like Goldman Sachs and AllianceBernstein. His role will focus on enhancing the firm’s technology and operational infrastructure to support growth. This move is seen as a strategic effort to refine operations within Lazard's asset management business, which managed approximately $216 billion in client assets as of December 31, 2022.
Lazard Ltd (NYSE: LAZ) reported its preliminary assets under management (AUM) as of January 31, 2023, totaling approximately $230.6 billion. This figure includes market appreciation of $11.6 billion, foreign exchange appreciation of $2.0 billion, and net inflows of $1.1 billion. The firm saw significant growth in equity, which reached $179.4 billion compared to $167.4 billion a year prior. Total AUM also increased from $216.1 billion year-over-year, highlighting a positive trend in the firm’s financial health.
Lazard Ltd (NYSE: LAZ) reported annual operating revenue of $2.769 billion for 2022, down 12% from 2021. Financial Advisory revenue decreased by 7% to $1.652 billion, while Asset Management revenue fell 17% to $1.099 billion. The company returned $936 million to shareholders, including $692 million in share repurchases. Adjusted net income for 2022 was $384 million ($3.73 per share), a 33% decline year-over-year. The firm ended the year with $216 billion in assets under management, down 21% from 2021. CEO Kenneth M. Jacobs expressed confidence in Lazard's ability to navigate market challenges ahead.
Lazard Ltd (NYSE: LAZ) announced a quarterly dividend of $0.50 per share on its common stock. This dividend will be payable on February 24, 2023, to stockholders of record as of February 13, 2023. With a history of financial advisory and asset management, Lazard operates in 43 cities across 26 countries. The firm, now celebrating its 175th year, offers services including advice on mergers and acquisitions, capital markets, and restructuring solutions.
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