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 (NYSE: LAZ) announced that its subsidiary Lazard Group will redeem all outstanding 3.750% Senior Notes due February 13, 2025, on December 12, 2024. The Notes, issued under the Indenture dated May 10, 2005, have an outstanding principal amount of $164,347,000. The redemption will be executed at a make-whole redemption price calculated according to the Indenture terms. Interest on the Notes will cease to accrue from the redemption date.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.14941 per share on its outstanding common stock, payable on November 22, 2024 to shareholders of record on November 12, 2024. The distribution is 100% from Net Realized Long-Term Capital Gains.
The Fund's average annual total return for the 5-year period ending September 30, 2024, was 10.28%. The annualized current distribution rate is 9.40% of NAV. For the fiscal year through September 30, 2024, the Fund's cumulative total return was 12.79%, with cumulative fiscal year distributions at 5.64% of NAV.
The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of 60 to 80 US and non-US equity securities, emerging market currencies, and debt obligations.
Lazard (NYSE: LAZ) has announced the appointment of Fabien Antignac as Managing Director and Co-Head of European Debt Advisory and Capital Solutions, effective 4th November 2024. Antignac will join existing Co-Heads François Guichot-Pérère and Tom Howard to lead the European team, focusing on expanding services in debt advisory, capital solutions, and liability management.
With over 30 years of experience in public and private debt markets, Antignac's appointment strengthens Lazard's commitment to meeting client financing and capital structure needs. He joins from UBS, where he was a senior Managing Director in the Leverage Finance Team. Previously, he spent 25 years at Credit Suisse First Boston, holding various leadership positions including Global Co-Head of Leverage Finance Origination and Head of EU Leverage Finance.
Lazard (NYSE: LAZ) has announced that Will Thompson will join the firm as Managing Director, Healthcare on November 4, 2024. Based in London, Thompson will be part of Lazard's financial advisory practice for Europe and its global healthcare group. This appointment marks Thompson's return to Lazard, where he previously worked from 1998 to 2004.
Thompson joins from Barclays, where he was Managing Director and Head of European Healthcare for nearly a decade. His appointment, along with Michele Colocci's recent hiring as Vice Chairman, Investment Banking and Managing Director, Healthcare, underscores Lazard's commitment to strengthening its product and sector teams.
Lazard's global healthcare business has experienced significant growth, advising on transactions worth over $245 billion since 2020. The firm's healthcare team operates across 22 countries, reinforcing its position as a leading global franchise in the sector.
Lazard (NYSE: LAZ) has announced it will release its third-quarter and nine-month 2024 financial results on Thursday, October 31, 2024. The press release will be available on Lazard's website in the News & Announcements section. Following the release, Lazard will host a conference call at 8:00 a.m. ET to discuss the financial results.
Investors can access the call via a live audio webcast on Lazard's website or by dialing in using the provided toll-free and international numbers. A replay of the conference call will be available from 10:00 a.m. ET on the same day through Lazard's website or by phone using the given replay numbers.
Lazard, Inc. (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $247.7 billion as of September 30, 2024. The month's AUM included market appreciation of $3.0 billion, foreign exchange appreciation of $1.5 billion, and net outflows of $1.3 billion. The preliminary average AUM for the quarter ended September 30, 2024, was $246.0 billion.
The AUM breakdown as of September 30, 2024, was:
- Equity: $191,532 million
- Fixed Income: $47,933 million
- Other: $8,192 million
These figures represent an increase from August 31, 2024, when total AUM was $244,341 million.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.14941 per share, payable on October 22, 2024, to shareholders of record on October 11, 2024. The distribution comprises 90% from net realized long-term capital gains and 10% return of capital. The Fund's average annual total return for the 5-year period ending August 31, 2024, is 10.07%, with an annualized current distribution rate of 9.48% of NAV.
The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of 60 to 80 US and non-US equity securities, emerging market currencies, and debt obligations. As of August 31, 2024, Lazard Asset Management and affiliated companies managed $244.3 billion in client assets.
Lazard (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $244.3 billion as of August 31, 2024. The month saw net outflows of $7.5 billion, market appreciation of $2.8 billion, and foreign exchange appreciation of $3.0 billion. Notably, gross outflows included about $7 billion from a single client restructuring its developed market assets into passive strategies.
The AUM breakdown as of August 31, 2024, was: Equity at $188,764 million, Fixed Income at $46,633 million, and Other at $8,944 million. Compared to July 31, 2024, Equity AUM decreased, while Fixed Income and Other categories saw increases.
Lazard Asset Management has announced the appointment of Robert Forsyth as Managing Director and Global Head of ETFs. Based in New York, Forsyth will lead the development and expansion of Lazard's active ETF platform. He joins from State Street Global Advisors, where he was Global Head of ETF strategy, bringing over 20 years of experience in exchange traded products.
This strategic move aligns with Lazard's plan to evolve its investment platform and distribution capabilities. The firm launched its first ETF product, the Lazard Global Listed Infrastructure Active ETF, for Australian investors in June 2024. Lazard aims to leverage Forsyth's expertise to accelerate its ambitions in the ETF space and bring sophisticated investment products to a wider range of clients through exchange traded products.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.14941 per share, payable on September 23, 2024, to shareholders of record on September 11, 2024. The distribution comprises 34% net realized long-term capital gains and 66% return of capital. The Fund's annualized current distribution rate is 9.70% of NAV as of July 31, 2024.
Key performance metrics include:
- 5-year average annual total return: 8.98%
- Fiscal year-to-date cumulative total return: 7.60%
- Cumulative fiscal year distributions: 4.20% of NAV
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