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) 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.
Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) totaling approximately $278.4 billion as of July 31, 2021. This reflects a market appreciation of $2.2 billion but includes net outflows of $1.1 billion and foreign exchange depreciation of $0.2 billion. The AUM breakdown shows equity holdings at $224.992 billion, fixed income at $47.661 billion, and other assets at $5.699 billion.
Lazard Ltd (NYSE: LAZ) reported record operating revenue of $821 million for Q2 2021, up 51% year-over-year. Adjusted net income reached $146 million or $1.28 per share, representing a 94% increase compared to Q2 2020. For the first half of 2021, adjusted net income totaled $247 million with operating revenue reaching $1.469 billion.
The firm benefited from strong macroeconomic trends and significant M&A activities, advising on transactions including Vivendi's stake in Universal Music Group and Air Canada's financial assistance. Lazard also returned $161 million to shareholders in Q2 2021.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its outstanding common stock. This dividend will be payable on August 20, 2021, to stockholders recorded by August 9, 2021. Lazard, a leading financial advisory and asset management firm, operates in 41 cities across 26 countries, providing services such as mergers and acquisitions advice, capital raising, and asset management. Founded in 1848, it serves a diverse clientele including corporations, institutions, and governments.
Lazard Asset Management (LAM) has expanded its global alternatives investment platform by hiring Robert Wall as Managing Director and Head of Sustainable Private Infrastructure, based in London. Wall, who has over 20 years of experience in private market investments and infrastructure, will develop a sustainable investment strategy focused on private infrastructure companies. This new strategy aims to provide diversified returns while benefiting society. LAM currently manages $277 billion in client assets as of June 30, 2021.
Lazard Asset Management has appointed Joanne Choi as Managing Director and Chief Marketing Officer, effective immediately. Choi, formerly of Goldman Sachs Asset Management, will spearhead the firm's global marketing strategies and brand initiatives. Her role includes enhancing client engagement and driving revenue through strategic marketing efforts. Choi's extensive experience in high-profile marketing roles positions her well to adapt to the complexities of global capital markets. As of June 30, 2021, Lazard managed $277 billion in client assets.
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