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) will announce its second quarter and first-half 2024 financial results on Thursday, July 25, 2024. The press release will be accessible in the News & Announcements section of Lazard's website. Lazard will host a conference call at 8:00 a.m. ET the same day to discuss these results. The call can be accessed live via webcast through the Investor Relations section of Lazard’s website, or by dialing 1 800-343-4136 (U.S. and Canada) or +1 203-518-9843 (international) with the conference ID: LAZQ224. A replay will be available by 10:00 a.m. ET on July 25, 2024, on Lazard’s Investor Relations website or by dialing 1 800-839-5637 (U.S. and Canada) or +1 402-220-2562 (international).
Lazard Global Total Return and Income Fund (NYSE: LGI) has announced an increase in its monthly distribution to shareholders as per its Managed Distribution Policy.
Starting with the distribution payable on July 22, 2024, shareholders of record on July 11, 2024, will receive a monthly distribution equal to 10% of the Fund’s net asset value per share on an annualized basis, or $0.14941 per share. The Fund clarified that part of this distribution might be a return of capital, not necessarily indicative of investment performance.
Portfolio data as of May 31, 2024, is available on Lazard Asset Management's website. The Fund aims for total returns via capital appreciation and current income, investing in a diversified portfolio of 60-80 US and non-US equity securities and other instruments, including emerging market currencies and debt obligations.
Lazard Asset Management manages $245 billion in client assets as of May 31, 2024.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.10459 per share, payable on July 22, 2024, to shareholders of record on July 11, 2024. The distribution sources include net realized long-term capital gains, with no return from net investment income or short-term capital gains. The fund's annualized distribution rate is 6.84% of NAV, and the cumulative return for the fiscal year is 5.27%. The fund's investment strategy focuses on capital appreciation and current income through a diversified portfolio of US and non-US equity securities and emerging market investments. Financial intermediary firms will provide tax reporting details via Form 1099-DIV.
Lazard (NYSE: LAZ) has announced the appointment of Ali Syed as Managing Director and Head of Sovereign and Pension Fund Coverage. Based in New York, Syed will lead efforts to advise global sovereign and pension funds, working closely with Wassim Al Khatib and Sarah Al Suhaimi from the MENA region. This appointment is part of Lazard's strategy to expand its private capital capabilities, following the launch of Lazard Capital Solutions in 2023 and the recent hire of Adam Cady. Syed's prior experience includes roles at Citigroup and Samba Financial Group.
Lazard announced that its preliminary assets under management (AUM) as of May 31, 2024, totaled approximately $245 billion. This reflects a monthly market appreciation of $4.4 billion, net outflows of $1.6 billion, and foreign exchange appreciation of $1.4 billion. By asset category, the AUM breakdown includes $190.82 billion in equity, $46.36 billion in fixed income, and $7.82 billion in other assets. Compared to the previous month, the firm's total AUM increased from $240.805 billion to $245.008 billion, pending any adjustments.
Lazard Asset Management (LAM) has announced the appointment of Rosalie Berman as Managing Director, Business Strategy, reporting to CEO Evan Russo. Berman will drive the firm's go-to-market strategy and lead key business initiatives. Russo highlights that Berman's strategic and operational expertise will support LAM's growth and product launch efforts. Berman joins from Morgan Stanley Wealth Management, where she led the go-to-market strategy for E*Trade tools post-acquisition. She has extensive experience in developing business strategies and delivering strong investment outcomes. Berman holds a bachelor's degree from Tufts University and previously worked at Citigroup and Smith Barney. She expressed excitement about joining LAM and contributing to its strategic goals and client solutions.
Lazard announced that CEO Peter R. Orszag will participate in a fireside discussion at the Morgan Stanley U.S. Financials, Payments & CRE Conference. This event will take place on June 11 at 8:45 a.m. ET. The discussion will be available via a live audio webcast on Lazard's Investor Relations website, with a replay accessible shortly thereafter.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.10459 per share, payable on June 24, 2024, to shareholders of record on June 11, 2024. The distribution is entirely a return of capital, as the Fund has distributed more than its net investment income and realized capital gains. The Fund's average annual total return for the 5-year period ending April 30, 2024, is 8.30%, with a current distribution rate of 7.06% and a cumulative total return for the fiscal year through April 30, 2024, of 1.43%. Investors are cautioned not to draw performance conclusions from the distribution amount.
Lazard (NYSE: LAZ) announced that Ben Braun has joined as Managing Director and Global Head of Media, Entertainment & Sports Advisory.
Based in New York, Braun will lead the firm's new Media, Entertainment & Sports advisory team within its Financial Advisory business. The team will focus on M&A, capital raising, restructuring, and strategic advisory services.
CEO Peter R. Orszag emphasized the dynamic nature of these sectors and the firm's aim to leverage global resources and expertise.
Mr. Braun, previously a Partner at Liontree and Head of Media & Telecommunications M&A at Bank of America Merrill Lynch, brings extensive industry experience.
Lazard Asset Management (LAM) has added Sarbjit Nahal as a Portfolio Manager/Analyst to strengthen its Global Thematic platform. Mr. Nahal's expertise in thematic investing will enhance Lazard's ability to capitalize on structural trends worldwide. His addition is expected to bring differentiated investment solutions to clients, leveraging his experience from Signal Capital Partners and Bank of America Merrill Lynch.
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