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 Ltd (LAZ) maintains its position as a global leader in financial advisory and asset management through strategic insights and operational excellence. This dedicated news hub provides investors with essential updates on corporate developments, market strategies, and financial performance.
Access authoritative reports on mergers & acquisitions, quarterly earnings disclosures, leadership changes, and regulatory filings. Our curated collection simplifies tracking LAZ's advisory engagements in restructuring and capital markets while monitoring its asset management division's international equity strategies.
Key updates include detailed analyses of cross-border transactions, institutional client partnerships, and operational expansions across 27 countries. Professionals rely on this resource for timely insights into LAZ's advisory role in complex corporate finance matters and its evolving position in global capital markets.
Bookmark this page for structured access to press releases and expert commentary. Regular updates ensure you remain informed about LAZ's strategic direction and industry impact without promotional bias.
Lazard Ltd (NYSE: LAZ) announced that Kenneth M. Jacobs, Chairman and CEO, will participate in a moderated Q&A session at the Goldman Sachs 2020 US Financial Services Conference, scheduled for December 9 at 8:40 a.m. EST. A live audio webcast will be accessible on the Lazard Investor Relations website, followed by a replay shortly after the event. Lazard is a leading financial advisory and asset management firm, boasting a global presence in 43 cities across 27 countries, providing services in M&A, restructuring, capital raising, and asset management.
The "Global Automotive Supplier Study 2020" by Roland Berger and Lazard forecasts a 15-20% slump in global automotive supplier sales due to the pandemic, with average EBIT margins dropping to 1.7% in H1 2020. The study, assessing around 600 suppliers, indicates the automotive sector may not recover to 2017 sales levels until 2026, with creditworthiness affected by poor financial indicators. Experts see a need for strategic cooperation and restructuring among suppliers to navigate ongoing challenges.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) of approximately $224.2 billion as of October 31, 2020. This figure reflects a market depreciation of $3.9 billion and net inflows of $0.3 billion. For comparison, AUM as of September 30, 2020, was $227.8 billion. The composition of AUM includes equity at $179.6 billion, fixed income at $40.0 billion, and other assets at $4.6 billion.
Lazard (NYSE: LAZ) announced the return of Sam Whittaker as a Managing Director in its Financial Advisory division, effective immediately. Whittaker, who previously spent five years at PJT Partners, brings over 15 years of restructuring expertise. He will enhance Lazard UK’s Restructuring business alongside David Burlison, Co-Head of EMEA Restructuring. The firm recently made several senior appointments to strengthen its restructuring team, recognized as a global leader in the sector. Lazard’s Restructuring Group has a strong track record, advising major clients on complex assignments.
Lazard Ltd (NYSE: LAZ) reported operating revenue of $569 million for Q3 2020, a 3% decline from the previous year. Adjusted net income was $76 million, or $0.67 per share, marking a 14% decrease year-over-year. For the first nine months, adjusted net income was $218 million, down 22% from 2019. Financial Advisory revenue increased 1% to $307 million, while Asset Management revenue fell 8%. Lazard returned $50 million to shareholders in Q3 through dividends. Despite market challenges, the firm remains resilient with a strong financial position.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its common stock. This dividend is scheduled to be paid on November 20, 2020, to stockholders of record as of November 9, 2020.
As a leading financial advisory and asset management firm, Lazard operates in over 40 cities and 25 countries, providing services in mergers and acquisitions, capital raising, and asset management.
Lazard Asset Management LLC has announced the addition of Ryan Hutchinson and Stefan Wimmer to its team, introducing a new Digital Health investment strategy. The strategy focuses on companies benefiting from digital transformation in healthcare, aiming to enhance consumer experience and improve health outcomes. Hutchinson and Wimmer bring extensive experience from their previous roles at Global Thematic Partners, where they led the Digital Health Strategy. This move aligns with Lazard's commitment to thematic investment solutions amid changing macroeconomic conditions.
Lazard Ltd (NYSE: LAZ) announced the addition of Makinson Cowell effective December 1, 2020. Founded in 1989, Makinson Cowell specializes in capital markets and investor relations for leading FTSE100 and 250 companies. This integration aims to enhance Lazard's financial advisory capabilities by leveraging Makinson Cowell's expertise in the institutional investor landscape. CEO Cyrus Kapadia emphasized the increasing demand for trusted advisory services, positioning this move as beneficial for clients seeking strategic decision-making insights.
Lazard Ltd (NYSE: LAZ) has published its annual analyses comparing energy generation and storage costs. The Levelized Cost of Energy Analysis (LCOE 14.0) shows a continued decline in costs for onshore wind (2%) and utility-scale solar (9%). Utility-scale solar has a competitive average cost of $31/MWh versus $41/MWh for coal. Lazard's Levelized Cost of Storage Analysis (LCOS 6.0) indicates that storage costs have decreased, especially for lithium-ion technologies. Notably, this year's LCOE includes a study on hydrogen as a supplemental fuel.
Lazard Asset Management LLC (LAM) has expanded its alternative investment platform with a new New York-based team specializing in long/short credit strategy. The new team, consisting of Sal Naro, Vincent Mistretta, Michael Cannon, and Sanjay Aiyar, joins from Coherence Capital Partners, forming the Lazard Coherence investment team. This addition enhances LAM's capabilities, aligning with its existing fixed income offerings, and aims to achieve consistent absolute returns in the credit markets. As of June 30, 2020, LAM managed approximately $4.5 billion in client assets.
