Lazard Ltd Stock Price, News & Analysis

Lazard Asset Management (LAM) has made its first investment in DBE Energy, an anaerobic digestion plant located in Surrey, England. LAM partners with DBE’s management team, holding a majority stake. This investment aims to support the U.K.'s decarbonization and circular economy by generating renewable gas from organic waste. DBE Energy’s facility processes 25,000 tons of waste annually, producing up to 2.3 million cubic meters of biomethane, sufficient to power approximately 700 homes. This move reflects LAM's commitment to sustainable infrastructure investment and growth opportunities in the fragmented AD market.

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $221.0 billion as of November 30, 2022. The increase in AUM for the month included $12.1 billion from market appreciation and $4.3 billion due to foreign exchange. Additionally, net inflows amounted to $0.1 billion. The AUM figures reflect a significant rise from $204.6 billion reported on October 31, 2022.

Lazard Ltd (NYSE: LAZ) has appointed Ronald Temple as the new Chief Market Strategist, effective immediately. In this role, Temple will serve as a key strategist for Lazard's Asset Management and Financial Advisory sectors, collaborating with the newly formed Geopolitical Advisory group. He brings over two decades of experience at Lazard, having held significant positions including U.S. equity and global equity strategies oversight. Kenneth M. Jacobs, CEO, highlighted Temple's extensive relationships and market insights as critical to the firm's success.

Lazard Ltd (NYSE: LAZ) announced that Kenneth M. Jacobs, Chairman and CEO, will participate in a moderated Q&A session at the Goldman Sachs 2022 US Financial Services Conference on Wednesday, December 7, 2022, at 8:00 a.m. EST. A live audio webcast will be accessible via the Lazard Investor Relations website, with a replay available shortly after the event.

Lazard is a leading financial advisory and asset management firm operating in 41 cities across 26 countries, providing services in mergers and acquisitions, strategic matters, and asset management.

Lazard Ltd (NYSE: LAZ) has appointed Edward Rubin as a Managing Director in its Telecommunications, Media & Entertainment Group. Based in New York, Rubin will leverage his extensive experience in fiber and telecommunications infrastructure to advise clients in the communications sector. This addition strengthens Lazard's leading advisory practice in this field, which has seen recent growth with other strategic hires. Rubin previously held significant roles at Cowen and Company, Deutsche Bank, UBS, and Dresdner Kleinwort Benson.

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $204.6 billion as of October 31, 2022. This figure reflects a market appreciation of $8.0 billion, net outflows of $1.8 billion, and foreign exchange appreciation of $0.6 billion. The AUM report indicates an increase from $197.8 billion at the end of September 2022. In equity, AUM rose to $160.2 billion, while fixed income increased to $39.0 billion. Lazard continues to provide asset management and financial advisory services worldwide.

Lazard Ltd (NYSE: LAZ) reported record operating revenue of $724 million for Q3 2022, a 3% increase compared to Q3 2021. Adjusted net income was $106 million or $1.05 per diluted share. For the first nine months of 2022, net income, as adjusted, totaled $317 million, down 11% from the previous year. The company returned $812 million to shareholders, including repurchasing 17.2 million shares. Despite challenges in asset management, Lazard remains committed to delivering long-term value through diversified services and robust capital management.