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. reports developments in financial advisory and asset management, its two recurring business lines. The firm provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, while its asset management business offers investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals.
Recurring LAZ news includes quarterly operating results, monthly assets-under-management updates with flow, market, foreign-exchange and asset-class detail, common-stock dividend declarations, additions to advisory sector groups, and strategic updates for the global platform. Coverage also reflects the firm’s operations in North and South America, Europe, the Middle East, Asia and Australia.
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Lazard Ltd (NYSE: LAZ) has appointed Sarah Al-Suhaimi as Chair of its Financial Advisory business for the MENA region, effective upon regulatory approval. This move underscores Lazard's commitment to enhancing its investment banking capabilities in the region, particularly from its Riyadh office, operational since 2010. Al-Suhaimi brings over 20 years of financial service experience, including roles at Saudi Stock Exchange and SNB Capital. CEO Peter Orszag emphasized her leadership will strengthen Lazard's local presence.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) as of August 31, 2022, totaling approximately $217.0 billion. This figure reflects a market depreciation of $5.2 billion, foreign exchange depreciation of $2.2 billion, and net outflows of $0.7 billion. The total AUM decreased from $225.1 billion reported on July 31, 2022.
Lazard Ltd (NYSE: LAZ) has appointed Timothy Donahue as Managing Director and Vice Chairman of U.S. Investment Banking, effective immediately. Based in New York, Donahue will focus on capital structures and private credit advisory. His experience includes a prior role at J.P. Morgan as Vice Chairman of Capital Markets. Lazard's CEO, Peter Orszag, highlighted the growth potential in private credit markets, emphasizing the enhancement of Lazard's expertise to better serve clients.
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Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $225.1 billion as of July 31, 2022. This figure includes market appreciation of $9.8 billion, foreign exchange depreciation of $1.0 billion, and net outflows of $0.3 billion. The firm’s AUM was $216.6 billion as of June 30, 2022. Lazard operates globally in financial advisory and asset management sectors, providing services across various financial activities.
Lazard Ltd (NYSE: LAZ) has appointed Mary Ann Betsch as its new Chief Financial Officer (CFO), effective October 3. She takes over from Evan L. Russo, who served as CFO since 2017 and transitioned to CEO of Lazard's Asset Management division in June 2022. Betsch brings over 20 years of experience, having previously led finance at Citadel and worked at PwC. Her extensive financial background is expected to enhance Lazard's senior leadership and business strategy.
Lazard Ltd (NYSE: LAZ) reported operating revenue of $676 million for Q2 2022, down 18% year-over-year. Adjusted net income was $96 million or $0.92 per share. The firm returned $526 million to shareholders year-to-date, including the repurchase of 10.6 million shares. While Financial Advisory revenue decreased 14%, Asset Management revenue fell 23%. Total Assets Under Management (AUM) dropped 22% from the previous year, ending at $217 billion.
The strong capital return strategy reflects Lazard's commitment to enhancing shareholder value amid challenging market conditions.
Lazard Ltd (NYSE: LAZ) has increased its quarterly dividend by 6% to $0.50 per share. This dividend will be payable on August 19, 2022, to stockholders who are on record as of August 8, 2022. This decision reflects the company's commitment to returning value to its shareholders while maintaining a strong financial position in the market.
Lazard Ltd (NYSE: LAZ) has appointed John Goldasich as a Managing Director in its Consumer and Retail Group, effective immediately. Based in Charlotte, North Carolina, Goldasich focuses on the restaurant and food service sectors. He brings over 18 years of investment banking experience, having previously served as a Partner at Arlington Capital Advisors, where he specialized in M&A for restaurants and franchising. His expertise aims to enhance Lazard’s advisory services in the private market consumer sector.