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
William M. Lewis, Jr. has joined Lazard's Board of Directors as of April 29, 2022, while announcing his retirement from the firm on November 12, 2022. Lewis has served as a Managing Director for 17 years, most recently as Chairman of Investment Banking. He will transition to Apollo Global Management as a Senior Partner on November 15. Kenneth M. Jacobs, CEO of Lazard, praised Lewis as an influential investment banker and advisor to high-profile CEOs.
Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $272.6 billion as of September 30, 2021. This figure includes $6.3 billion in market depreciation, $2.6 billion in foreign exchange depreciation, and $1.3 billion in net outflows. The average AUM for the quarter was $277.9 billion. In comparison, AUM was $282.8 billion at the end of August 2021.
The report highlights a decline in AUM owing to various market factors and outflows.
Lazard Ltd (NYSE: LAZ) has announced the recruitment of Andrew Sweet as a Managing Director in their Charlotte office, focusing on the Industrials Group. Sweet, who has over 15 years of experience in M&A, private capital raising, and public financing, previously held positions at Stephens, Inc. and Hyde Park Capital. The firm, which operates in 41 cities worldwide, continues to enhance its advisory services to clients across various sectors.
Lazard Ltd (NYSE: LAZ) has appointed Medha Chadha and Jason Schoenholtz as Managing Directors in Financial Advisory, focusing on healthcare clients. Ms. Chadha will lead capital markets advisory, leveraging 16 years of equity capital markets experience, particularly in biotech. Mr. Schoenholtz, with nearly two decades in healthcare investment banking, will enhance the team's expertise in healthcare services. This strategic expansion aims to improve Lazard’s advisory capabilities in the healthcare sector.
Lazard Ltd (NYSE: LAZ) released its annual study on challenges and opportunities in the global healthcare sector, surveying 200 executives and investors. The report indicates that the majority expect the COVID-19 pandemic to persist through 2022 and beyond, raising concerns about vaccine hesitancy and new variants. Key findings include a permanent shift to digital healthcare, ongoing strategic M&A activity, and pricing challenges. The study reflects healthcare leaders' views on innovation and the implications of the pandemic, with expectations for increased virtual healthcare delivery and a focus on scientific advancement.
The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.11512 per share on its outstanding common stock. This distribution will be payable on October 22, 2021, to shareholders of record as of October 8, 2021. The ex-dividend date is set for October 7, 2021. The Fund's investment strategy focuses on total return through capital appreciation and income, investing in a diverse portfolio of US and non-US equities, including companies with market caps over $2 billion, and may also include emerging market investments.
Lazard Ltd (NYSE: LAZ) reported its preliminary assets under management (AUM) as of August 31, 2021, totaling approximately $282.8 billion. This figure included market appreciation of $5.0 billion and foreign exchange depreciation of $0.5 billion, alongside net outflows of $17 million. AUM composition showed equity at $228.8 billion, fixed income at $48.2 billion, and other investments at $5.8 billion.
Lazard Ltd (NYSE: LAZ) has appointed Simon Auerbach as Managing Director and Co-Head of Information Services in Financial Advisory’s Telecom, Media and Entertainment (TME) group, effective immediately. He will work alongside Richard Hoyle in New York. Auerbach brings extensive experience from Credit Suisse, Foros, and Goldman Sachs. His addition aims to enhance Lazard's TME capabilities, as stated by Garrett Baker, Global Co-Head of TME, who highlighted Auerbach's leadership in mergers and acquisitions within the sector.
Lazard Ltd (NYSE:LAZ) has appointed Patrick No as Managing Director in the Private Capital Advisory Group, effective immediately. Based in Singapore, No will focus on fundraising and secondary solutions in the Asia Pacific region. He brings extensive experience from Credit Suisse and J.P. Morgan, enhancing Lazard's advisory capabilities in this key market.
Holcombe Green, Global Head of Private Capital Advisory, highlighted that No's addition strengthens the team's expertise and supports the firm's growth strategy in APAC.
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