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 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.
Lazard, Inc. (NYSE: LAZ) reported its April 2024 Assets Under Management (AUM) at approximately $240.8 billion, with market depreciation of $4.4 billion, net outflows of $3.6 billion, and foreign exchange depreciation of $1.6 billion. The breakdown shows Equity at $187,582 million, Fixed Income at $45,399 million, and Other at $7,824 million.
Lazard, Inc. announced Michele Colocci joining as Vice Chairman, Investment Banking and Managing Director, Healthcare on June 3, 2024. With extensive experience in healthcare investment banking, Colocci's appointment aims to strengthen Lazard's global healthcare franchise. Lazard's EMEA business accounted for 40% of financial advisory revenues, showcasing its growth trajectory.
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