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 Growth Acquisition Corp. I has announced the pricing of its initial public offering, consisting of 50,000,000 units at $10.00 each. The units, including a Class A ordinary share and a redeemable warrant, will start trading on Nasdaq under ticker symbol 'LGACU' on February 10, 2021, with the offering expected to close on February 12, 2021. The company aims to pursue opportunities in various sectors such as healthcare and technology. Goldman Sachs is the sole book-runner, with an option for over-allotments of 7,500,000 units.
Lazard Ltd (NYSE: LAZ) reported annual operating revenue of $2,524 million for 2020, slightly down 1% from 2019. Adjusted net income was $410 million, or $3.60 per share, marking a 7% increase from the prior year. In Q4 2020, adjusted net income reached $192 million, a 147% surge year-over-year. Financial Advisory revenue was $1,403 million, up 3%, while Asset Management revenue fell 4% to $1,111 million. The firm returned $365 million to shareholders in 2020. They ended the year with $259 billion in assets under management, a 4% increase from 2019.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its common stock. This dividend is set to be paid on March 2, 2021, to stockholders recorded as of February 19, 2021. This decision reflects the company’s ongoing commitment to returning value to shareholders while maintaining a strong financial position.
Lazard Growth Acquisition Corp. I announced the public filing of a registration statement on Form S-1 with the SEC for a proposed IPO of 50 million units at $10 each. Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with plans to list on Nasdaq under the symbol 'LGACU'. The Company, a blank check entity, aims to acquire businesses in growth-oriented sectors such as healthcare and technology, but is not limited to any specific industry. Goldman Sachs acts as the lead manager for the offering, which remains subject to market conditions.
Lazard Ltd (NYSE: LAZ) will announce its full-year and fourth-quarter 2020 financial results on February 5, 2021. The press release will be accessible on Lazard's website. An 8:00 a.m. EST conference call will follow to discuss the results, available via live audio webcast. For those unable to attend, a replay will be offered later that day. Lazard, a key player in financial advisory and asset management, operates in over 40 cities across 25 countries, providing services related to M&A, restructuring, and capital raising.
The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) announced a monthly distribution of $0.11512 per share, payable on February 22, 2021, to shareholders of record on February 9, 2021. The ex-dividend date is February 8, 2021. As of December 31, 2020, the Fund focuses on capital appreciation and current income via a diversified portfolio of 60 to 80 equity securities, including emerging markets. Lazard Asset Management, managing $258.6 billion in assets, oversees the Fund's investments and provides detailed portfolio data on its website.
Lazard Ltd (NYSE: LAZ) announced preliminary assets under management (AUM) of approximately $258.6 billion as of December 31, 2020. This total included market appreciation of $7.7 billion and foreign exchange appreciation of $2.9 billion, along with net inflows of $0.4 billion. The average AUM for the quarter ending December 31, 2020, stood at $245.6 billion, indicating a solid performance in asset management despite potential market fluctuations.
Lazard Ltd (NYSE: LAZ) has appointed James J. Orozco as a Managing Director in its Financial Advisory business, effective immediately. Based in San Francisco, Orozco joins from GCA Advisors, where he led their Financial Sponsors practice. This strategic hire aims to enhance Lazard's expertise in private equity, particularly in the technology, media, and telecom sectors. Peter Orszag, CEO of Financial Advisory, noted that Orozco's extensive experience and relationships with key private equity firms will strengthen the team's capabilities amid a growing market opportunity.
Lazard Ltd (NYSE: LAZ) has appointed Adam Handwerker as a Managing Director in its Private Capital Advisory Group, effective immediately. Based in New York, Handwerker brings over 15 years of experience in real estate private fundraising. He previously held positions at Rialto Capital Management and Credit Suisse, enhancing Lazard's capabilities in the US real estate funds market. This move is expected to strengthen Lazard's position as a leading advisor globally in this sector.
Lazard Global Total Return and Income Fund (NYSE:LGI) has confirmed a monthly distribution of $0.11512 per share, representing an annualized yield of 7.0% based on its net asset value as of December 31, 2020. The payment will be made on January 22, 2021, to shareholders registered by January 11, 2021, with an ex-dividend date set for January 8, 2021. The Fund seeks total returns through capital appreciation and income, investing in approximately 60 to 80 US and non-US equity securities, including those in emerging markets.
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