Lazard

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American investment bank

title: "Lazard" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["investment-banks-in-the-united-states", "banks-established-in-1848", "financial-services-companies-established-in-1848", "companies-listed-on-the-new-york-stock-exchange", "1848-establishments-in-louisiana", "lazard-family", "multinational-banks", "asset-management-companies"] description: "American investment bank" topic_path: "economics" source: "https://en.wikipedia.org/wiki/Lazard" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American investment bank ::

::data[format=table title="Infobox company"]

FieldValue
nameLazard Inc.
logoLazard wordmark.svg
logo_size250
imageGE-Bldg 30-Rockefeller-Plaza NYC 2012.jpg
image_size250px
image_captionHeadquarters at 30 Rockefeller Plaza
typePublic
former_names
traded_as
founders
key_people
industryFinancial services
products
revenue
operating_income(2024)
net_income(2024)
assets(2024)
equity(2024)
aum(2024)
num_employees3,263 (2024)
homepage
foundation
New Orleans, Louisiana, U.S.
location30 Rockefeller Plaza, New York City, U.S.
footnotes
::

| name = Lazard Inc. | logo = Lazard wordmark.svg | logo_size = 250 | image = GE-Bldg 30-Rockefeller-Plaza NYC 2012.jpg | image_size = 250px | image_caption = Headquarters at 30 Rockefeller Plaza | type = Public | former_names = | traded_as = | founders = | key_people = | industry = Financial services | products = | revenue = | operating_income = (2024) | net_income = (2024) | assets = (2024) | equity = (2024) | aum = (2024) | num_employees = 3,263 (2024) | homepage = | foundation = New Orleans, Louisiana, U.S. | location = 30 Rockefeller Plaza, New York City, U.S. | footnotes =

Lazard Inc. (formerly known as Lazard Ltd and Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It is the world's largest independent investment bank, with principal executive offices in New York City, Paris and London.

Lazard was founded in 1848 and operates from 41 cities across 26 countries in North America, Europe, Asia, Australia, and Central and South America. The firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals.

History

Early years

On July 12, 1848, three French brothers, Alexandre Lazard, Lazare Lazard, and Simon Lazard, founded Lazard Frères & Co. as a dry goods merchant store in New Orleans, Louisiana. By 1851, Simon and two more brothers, Maurice and Elie, had all moved to San Francisco, California, while Alexandre moved to New York. With the Gold Rush in full swing, the brothers traded in gold between San Francisco and Western Europe.{{Cite web| title=Lazard | url=https://www.jewishvirtuallibrary.org/lazard | website=Jewish Virtual Library

In 1854, Alexandre Lazard moved to Paris, France, where he opened an office to complement the U.S. business. The firm began advising the French government on gold buying. In 1870, the firm continued to expand its international operations, opening an office in London as well.

The name "Lazard Frères" means "Lazard Brothers" or "the Brothers Lazard" in French. It refers to associations of the Lazard brothers to form various financial services institutions with world-wide offices and investments.

The Three Houses of Lazard

In the late 1800s and early 1900s, the firm evolved into three "Houses of Lazard" in the United States, France, and the United Kingdom, separately managed but allied. The Lazard partners advised clients on financial matters and built a cross-border network of high-level relationships in business and government. Noted financial advisor George Blumenthal rose to prominence as the head of the U.S. branch of Lazard Frères and was a partner of Lazard Frères in France.

In the economic boom following World War II, the American operations of Lazard expanded significantly under the leadership of the French financier André Meyer. Meyer and Lazard partner Felix Rohatyn have been credited with virtually inventing the modern mergers and acquisitions (M&A) market.

In 1953, Lazard Investors Ltd began an asset management business in London, which is the origin of today's Lazard Asset Management.

A unified firm

In 1977, as the health of Meyer began to deteriorate, the firm came to be controlled by Michel David-Weill. Under his leadership, the three houses of Lazard were formally united in 2000 as Lazard LLC.

In 2002, David-Weill hired Bruce Wasserstein to be CEO. Lazard became a public company in 2005, with nearly two-thirds of its shares owned by current and former employees. Wasserstein became its first chairman and CEO. In connection with the initial public offering (IPO), Lazard spun off its broker-dealer business, Lazard Capital Markets.

Following Wasserstein's death in 2009, Lazard's board of directors elected Kenneth M. Jacobs as chairman and CEO.

During the Greek sovereign debt crisis, Lazard served as advisor to the Greek government, securing "the biggest restructuring deal in history" in 2012. They were hired again by the incoming Syriza party in 2015.{{Cite news | date=5 Feb 2015 | title=Greek radicals play it safe with debt advisers Lazard | website=Reuters | url=https://www.reuters.com/article/markets/greek-radicals-play-it-safe-with-debt-advisers-lazard-idUSL6N0VD224/ The crisis was finally resolved in 2018.{{Cite web| title=Greece’s Debt Crisis | url=https://www.cfr.org/timeline/greeces-debt-crisis-timeline| website=Council on Foreign Relations

Lazard invested in a startup investment bank, Independence Point Advisors, in late 2021.

On May 26, 2023, the firm announced that Peter R. Orszag, CEO of Financial Advisory, had been unanimously elected by its Board to serve as CEO of Lazard and as a Board Director, effective October 1, 2023. Orszag became chief executive officer of Lazard on October 1, 2023. On January 1, 2025, Orszag's role expanded to serve as CEO and Chairman of Lazard's Board of Directors.

The publicly traded partnership Lazard Ltd was reincorporated under the Delaware General Corporation Law effective January 1, 2024 and changed its name from Lazard Ltd to Lazard, Inc.

In 2025, Lazard partnered with alternative credit firm Arini Capital Management to collaborate on sourcing and direct lending opportunities across Europe, the Middle East, and Africa.

Business overview

Financial advisory

Lazard advises clients on a wide range of strategic and financial issues. The firm has advised on many of the largest restructuring assignments during and after the 2008 financial crisis. Lazard's Sovereign Advisory group advises governments and sovereign entities on policy and financial issues.

Asset management

Lazard's asset management business provides investment management and financial advisory services. The firm manages assets on behalf of institutional clients (corporations, labor unions, public pension funds, endowments, foundations, insurance companies, and banks; and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered advisors) and individual clients (principally family offices and high-net-worth individuals).

In December 2025, Christopher Hogbin was appointed CEO of Lazard Asset Management.

Office locations

The bank operates from 39 cities across 22 countries.

In Paris, the Lazard offices were located successively at 17, boulevard Poissonnière (1885–1907); and 175, boulevard Haussmann (since September 2020).

Lazard's New York City headquarters spans the top floors of 30 Rockefeller Plaza, including what used to be Room 5600, the former offices of the Rockefeller family dynasty.

File:Poissonniere17.jpg|17, boulevard Poissonnière, Paris File:PilletWill5.jpg|5-7, rue Pillet-Will, Paris File:Haussmann121.jpg|121, boulevard Haussmann, Paris File:HaussmannLazard.jpg|175, boulevard Haussmann, Paris

Management

Past chairmen

Board of directors

Lazard's board of directors as of October 2025:

Books

References

References

  1. (24 February 2025). "Lazard Inc. Annual Report (Form 10-K)". U.S. Securities and Exchange Commission.
  2. (September 8, 2015). "Investment banking: Walking away from Wall Street". Financial Times.
  3. (28 February 2022). "Lazard Ltd Annual Report (Form 10-K)". U.S. Securities and Exchange Commission.
  4. Guy de Rougemont, Lazard Frères, Banquiers des Deux Mondes (1840–1939), Librairie Arthème Fayard, 2010
  5. "Institutional Investor International Edition, November 2011 "The New House of Lazard"".
  6. "Lazard website – About Lazard".
  7. William Cohan, ''Last Tycoons: The Secret History of Lazard Frères & Co'', Doubleday, 2007
  8. (November 17, 2009). "Lazard Names Kenneth Jacobs as Its New Chief". The New York Times.
  9. (22 November 2021). "Lazard Backs Wall Street Diversity With ‘Salomon Sisters’ Stake". www.bloomberg.com.
  10. (24 September 2021). "‘Salomon Sisters’ Is Coming to Wall Street, Backed by Lazard".
  11. (May 26, 2023). "Lazard Appoints Peter R. Orszag as CEO and Kenneth M. Jacobs as Executive Chairman". Lazard.com.
  12. (May 26, 2023). "Lazard Names Peter Orszag to Succeed Ken Jacobs as C.E.O.". The New York Times.
  13. Gillespie, Todd. (2024-11-25). "Lazard Appoints Orszag to Chair Board as Ken Jacobs Steps Back". Bloomberg Law.
  14. "Lazard Ltd Completes Conversion to a U.S. C-Corporation and is Renamed Lazard, Inc.".
  15. (2025-03-25). "Lazard and alt credit firm Arini team up for EMEA direct lending deals".
  16. McCracken, Jeffrey. (January 14, 2012). "Lazard Appoints Kurtz Restructuring Chief After Ridings, Savage". Bloomberg.
  17. "Lazard Reports 2013 fourth quarter earnings".
  18. "Lazard Hires AllianceBernstein’s Hogbin to Lead Asset Management".
  19. "Locations {{!}} Lazard".
  20. Alessandro Giacone. (2015). "Jean Guyot : Un financier humaniste". CNRS Editions.
  21. ({{date). "Lazard Inaugurates its New Investment Banking Office in Paris".
  22. (15 March 2011). "Lazard Takes More of 30 Rock".
  23. Makarechi, Kia. (24 November 2014). "Rockefeller Family Leaving 30 Rockefeller Center for the First Time".
  24. (31 December 2024). "Leadership and Board Lazard".
  25. Walton, Mark. (June 6, 2000). "The Mount Royal Tunnel Electrification". Colin Churcher's Railway Pages.

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