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 Ltd (NYSE: LAZ) has appointed Jami Miscik as a Senior Advisor for its Geopolitical Advisory group, effective immediately. Based in Los Angeles, Miscik brings nearly 40 years of experience intersecting intelligence, government, and financial services. Her background includes being CEO of Kissinger Associates and a former Deputy Director for Intelligence at the CIA. The new advisory group aims to guide corporate leaders in navigating risks and opportunities in a volatile geopolitical landscape, combining expert insights with Lazard's business acumen.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) for September 30, 2022, totaling approximately $197.8 billion. This figure reflects a market depreciation of $14.8 billion, foreign exchange depreciation of $3.4 billion, and net outflows of $1.0 billion. The average AUM for the quarter was $212.3 billion. The total equity decreased from $170.7 billion in August 2022 to $153.7 billion in September 2022, indicating a significant decline in market conditions affecting the firm's performance.
Lazard Ltd (NYSE: LAZ) has appointed Sarah Al-Suhaimi as Chair of its Financial Advisory business for the MENA region, effective upon regulatory approval. This move underscores Lazard's commitment to enhancing its investment banking capabilities in the region, particularly from its Riyadh office, operational since 2010. Al-Suhaimi brings over 20 years of financial service experience, including roles at Saudi Stock Exchange and SNB Capital. CEO Peter Orszag emphasized her leadership will strengthen Lazard's local presence.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) as of
Lazard Ltd (NYSE: LAZ) has appointed Timothy Donahue as Managing Director and Vice Chairman of U.S. Investment Banking, effective immediately. Based in New York, Donahue will focus on capital structures and private credit advisory. His experience includes a prior role at J.P. Morgan as Vice Chairman of Capital Markets. Lazard's CEO, Peter Orszag, highlighted the growth potential in private credit markets, emphasizing the enhancement of Lazard's expertise to better serve clients.
Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $225.1 billion as of July 31, 2022. This figure includes market appreciation of $9.8 billion, foreign exchange depreciation of $1.0 billion, and net outflows of $0.3 billion. The firm’s AUM was $216.6 billion as of June 30, 2022. Lazard operates globally in financial advisory and asset management sectors, providing services across various financial activities.
Lazard Ltd (NYSE: LAZ) has appointed Mary Ann Betsch as its new Chief Financial Officer (CFO), effective October 3. She takes over from Evan L. Russo, who served as CFO since 2017 and transitioned to CEO of Lazard's Asset Management division in June 2022. Betsch brings over 20 years of experience, having previously led finance at Citadel and worked at PwC. Her extensive financial background is expected to enhance Lazard's senior leadership and business strategy.
Lazard Ltd (NYSE: LAZ) reported operating revenue of $676 million for Q2 2022, down 18% year-over-year. Adjusted net income was $96 million or $0.92 per share. The firm returned $526 million to shareholders year-to-date, including the repurchase of 10.6 million shares. While Financial Advisory revenue decreased 14%, Asset Management revenue fell 23%. Total Assets Under Management (AUM) dropped 22% from the previous year, ending at $217 billion.
The strong capital return strategy reflects Lazard's commitment to enhancing shareholder value amid challenging market conditions.
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