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 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.
Lazard Asset Management (LAM) has appointed Jennifer Ryan as Managing Director and Head of North American Distribution, effective immediately. Ms. Ryan, with over 25 years of experience, previously held leadership roles at BlackRock and Goldman Sachs. She will oversee LAM’s business development in North America, focusing on the Institutional Client Group and Alternative Investments Sales. CEO Evan Russo emphasized her expertise in understanding the North American market. LAM managed $216 billion in client assets as of December 31, 2022, reflecting its significant presence in the asset management industry.
Lazard Ltd (NYSE: LAZ) has appointed Wassim Al-Khatib as the new Chief Executive Officer of its Financial Advisory business in the Middle East and North Africa (MENA), pending regulatory approval. Al-Khatib will operate from the Riyadh office, which is set to be the regional hub for MENA Investment Banking. Peter Orszag, Lazard's CEO of Financial Advisory, expressed confidence in Al-Khatib's experience and leadership abilities. Previously, Al-Khatib was CEO of Citigroup Saudi Arabia and has significant transaction experience in the MENA region, highlighting Lazard's commitment to expanding its client engagement in this key market.
Lazard Ltd (NYSE: LAZ) will release its fourth-quarter and full-year 2022 financial results on February 2, 2023. The press release will be accessible on Lazard’s website. A conference call is scheduled for 8:00 a.m. EST on the same day to discuss these results. Participants can join via a live audio webcast or by calling designated numbers. A replay of the call will be available later that day. Lazard is a leading financial advisory and asset management firm, operating in 41 cities across 26 countries, providing services in mergers and acquisitions, restructuring, capital raising, and asset management.
Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $216.1 billion as of December 31, 2022. The AUM report reflects a market depreciation of $5.7 billion, foreign exchange appreciation of $2.9 billion, and net outflows of $2.1 billion. The average AUM for the quarter stood at $211.2 billion. This financial performance highlights challenges in maintaining AUM amidst market fluctuations.
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