Lazard
Encyclopedia
Lazard Ltd is the parent company of Lazard Group LLC, a global, independent investment bank with approximately 2,300 employees in 42 cities across 27 countries throughout Europe, North America, Asia, Australia, Central and South America. Formerly known as Lazard Frères & Co. the firm's origins date back to 1848, the firm provides advice on mergers and acquisitions
, restructuring
and capital raising, as well as asset management services to corporations, partnerships, institutions, governments, and individuals. Lazard remained privately held until May 5, 2005, when the company conducted an initial public offering
of its shares. In connection with its IPO, Lazard spun off its securities
underwriting
business, Lazard Capital Markets
, which is now its own firm.
of the last 160 years. In recent years, Lazard has advised on nearly 1,000 completed mergers and acquisitions, having a cumulative value in excess of $1 trillion. Lazard has one of the most highly regarded corporate advisory departments. Lazard has also advised on some of the largest and highest-profile corporate restructuring
s around the world. Since 1999, the firm has advised on more than 250 restructurings totaling over $1 trillion in debtor assets, including the landmark bankruptcy of Lehman Brothers Holdings. In January 2008, Harvard Business Review
profiled the firm's Chairman & CEO Bruce Wasserstein
in an article titled, "Giving Great Advice". In 2006, Businessweek
referred to the firm as the "Granddaddy of M&A".
and advisory services to institutional clients, financial intermediaries, private clients, and investment vehicles around the world. The goal of Lazard's asset management business is to produce superior risk-adjusted investment returns
and provide customized investment solutions for clients. As of June 30, 2009, total assets under management were $98 billion, managed on behalf of institutional (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 office
s and high-net worth individuals
). As of March 2011 Lazard lists their Total Assets Under Management as $160.5bn .
, France moved to the United States and formed Lazard Frères & Co. as a dry goods
business in New Orleans, Louisiana
, with a combined contribution of $9,000. Shortly thereafter, the Lazard brothers moved to the gold rush
town of San Francisco, California
, where they opened a business selling imported goods and exporting gold bullion. The business progressively became involved in financial transactions, first with its retail clients and then increasingly with commercial clients.
Over time, the business expanded into the banking and foreign exchange
businesses. Seeking to expand operations to Europe, the Lazard brothers opened offices in Paris and London in 1858 and 1870, respectively. By 1876, Lazard's businesses had become solely focused on providing financial services
. In 1880, Alexandre Weill, the founding brothers’ cousin, assumed control of Lazard. Noted philanthropist 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.
. The post World War II
period saw the American operations expand significantly as a mergers and acquisitions specialist under the leadership of Meyer and Felix Rohatyn
. In 1977, the firm then came to be controlled by Michel David-Weill
, as the health of Meyer began to deteriorate. In 1997, Steven Rattner
became the deputy chief executive at Lazard, when that position was created for operational management. Rattner left the position in 1999 and left Lazard in 2000 to form Quadrangle Group
.
In 2000, under David-Weill's leadership, the three houses of Lazard were formally unified as Lazard LLC. In 2002, David-Weill hired Bruce Wasserstein
as CEO. The pair subsequently became embroiled in a much-publicized corporate fight in which David-Weill said he regretted the hiring. In mid-2004, Lazard began to publicly consider an initial public offering
.
The tension between David-Weill and Wasserstein culminated in May 2005, when Wasserstein completed an IPO of the firm, ending over 150 years of private ownership. Although David-Weill and other descendants of the founding family had wanted the company to remain private, they had handed out significant amounts of company shares in remuneration packages to employees. As a result, many employees owned shares in Lazard, and since many of them wanted to cash out, they voted with Wasserstein to go public.
Since 2005, Lazard has pursued an aggressive expansion of its financial advisory business. In addition to opening numerous offices around the globe to serve growing markets, Lazard has also made several strategic acquisitions. It purchased a controlling stake in the Argentinian investment bank MBA (now renamed MBA Lazard), expanded into Australia by purchasing investment bank Carnegie Wylie (now renamed Lazard Carnegie Wylie
) and purchased a middle market investment bank in the United States (Goldsmith Agio Helms & Lynner, now renamed Lazard Middle Market). All acquisitions have been fully integrated into the firm (the name differences are in place because of existing client relationships) and are part of the Lazard Group. In addition, the firm has strategic partnership agreements or joint ventures with numerous firms, including Lazard Capital Markets, Lazard Alternative Investments, Lazard-Natixis and Raiffeissen Investment, an investment bank with Eastern European ties. In July 2009, Lazard acquired the management vehicle of Chicago-based middle market Private Equity Firm The Edgewater Funds.
Lazard continued to be led by Wasserstein, who held the positions of Chairman and CEO until October 14, 2009 when he died suddenly.
, New York
. In 1993, Anthony E. Meyer
co-founded Lazard Frères Real Estate Investors, Meyer, together with co-founders Arthur P. Solomon and Robert P. Freeman, engineered Lazard’s re-entry into the property investment sector.
When Rockefeller Center
was put up for sale in 1995, Meyer and Lazard teamed with another young investor, William Ackman
, the outspoken founder of Gotham Partners (and now the highly-successful activist investor with Pershing Square Capital Partners), to compete against industry giants Goldman Sachs
and Tishman Speyer Properties
for ownership. While the bid for Rockefeller Center was unsuccessful, Meyer and Ackman set an early precedent for what Carl Icahn
would later refer to as activist investing.
Meyer went on to establish international investment activities for Lazard in both London
and Singapore
. After the firing of Arthur Solomon as the head of Lazard's real estate division in 1999, Meyer sold his significant minority interest in Lazard Frères Real Estate Investors and moved on to establish Meyer and Co. LLC, an investment and venture capital firm.
Amsterdam
Atlanta
Bahrain
Beijing
Brussels
Bogota
Bordeaux
Boston
Buenos Aires
Charlotte
Chicago
Dubai
Frankfurt
Hamburg
Hong Kong
Houston
Lima
London
Los Angeles
Lyon
Madrid
Melbourne
Milan
Minneapolis
Montevideo
Montreal
Mumbai
New York
Panama City
Paris
Perth
Riyadh
San Francisco
São Paulo
Santiago
Seoul
Singapore
Stockholm
Sydney
Tokyo
Toronto
Washington, D.C.
Zürich
http://lazard.com/Global_Contacts.aspx
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
, restructuring
Restructuring
Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs...
and capital raising, as well as asset management services to corporations, partnerships, institutions, governments, and individuals. Lazard remained privately held until May 5, 2005, when the company conducted an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
of its shares. In connection with its IPO, Lazard spun off its securities
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...
underwriting
Underwriting
Underwriting refers to the process that a large financial service provider uses to assess the eligibility of a customer to receive their products . The name derives from the Lloyd's of London insurance market...
business, Lazard Capital Markets
Lazard Capital Markets
Lazard Capital Markets is a New York-based investment bank founded in 2005 in a spin-off from its parent Lazard.Lazard Capital Markets focuses its activities on equity research, sales and trading; fixed-income and convertible bond sales and trading; and securities underwriting...
, which is now its own firm.
Business overview
Financial advisory (Investment Banking)
Lazard's history as a preeminent financial advisor has contributed to its ability to secure key advisory roles in some of the most important, complex and recognizable mergers and acquisitionsMergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
of the last 160 years. In recent years, Lazard has advised on nearly 1,000 completed mergers and acquisitions, having a cumulative value in excess of $1 trillion. Lazard has one of the most highly regarded corporate advisory departments. Lazard has also advised on some of the largest and highest-profile corporate restructuring
Restructuring
Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs...
s around the world. Since 1999, the firm has advised on more than 250 restructurings totaling over $1 trillion in debtor assets, including the landmark bankruptcy of Lehman Brothers Holdings. In January 2008, Harvard Business Review
Harvard Business Review
Harvard Business Review is a general management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School. A monthly research-based magazine written for business practitioners, it claims a high ranking business readership among academics, executives,...
profiled the firm's Chairman & CEO Bruce Wasserstein
Bruce Wasserstein
Bruce Jay Wasserstein was an American investment banker and businessman. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at Cambridge University...
in an article titled, "Giving Great Advice". In 2006, Businessweek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
referred to the firm as the "Granddaddy of M&A".
Asset management
Lazard's asset management business provides investment managementInvestment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
and advisory services to institutional clients, financial intermediaries, private clients, and investment vehicles around the world. The goal of Lazard's asset management business is to produce superior risk-adjusted investment returns
Sharpe ratio
The Sharpe ratio or Sharpe index or Sharpe measure or reward-to-variability ratio is a measure of the excess return per unit of deviation in an investment asset or a trading strategy, typically referred to as risk , named after William Forsyth Sharpe...
and provide customized investment solutions for clients. As of June 30, 2009, total assets under management were $98 billion, managed on behalf of institutional (corporations, labor unions, public pension funds, endowments, foundations, insurance companies, and banks; and through sub-advisory relationships, mutual fund
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...
sponsors, broker-dealers and registered advisors) and individual clients (principally family office
Family office
A family office is a private company that manages investments and trusts for a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many family generations. Traditional family offices provide personal services such as managing household staff and...
s and high-net worth individuals
High net worth individual
A high-net-worth individual is a person with a high net worth. In the private banking business, these individuals typically are defined as having investable assets in excess of US$1 million. As explained below, the U.S...
). As of March 2011 Lazard lists their Total Assets Under Management as $160.5bn .
Early years
Lazard's origins date back to 1848 when the founders, Alexandre Lazard, Simon Lazard, and Elie Lazard, three brothers from LorraineLorraine (région)
Lorraine is one of the 27 régions of France. The administrative region has two cities of equal importance, Metz and Nancy. Metz is considered to be the official capital since that is where the regional parliament is situated...
, France moved to the United States and formed Lazard Frères & Co. as a dry goods
Dry goods
Dry goods are products such as textiles, ready-to-wear clothing, and sundries. In U.S. retailing, a dry goods store carries consumer goods that are distinct from those carried by hardware stores and grocery stores, though "dry goods" as a term for textiles has been dated back to 1742 in England or...
business in New Orleans, Louisiana
New Orleans, Louisiana
New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana. The New Orleans metropolitan area has a population of 1,235,650 as of 2009, the 46th largest in the USA. The New Orleans – Metairie – Bogalusa combined statistical area has a population...
, with a combined contribution of $9,000. Shortly thereafter, the Lazard brothers moved to the gold rush
California Gold Rush
The California Gold Rush began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The first to hear confirmed information of the gold rush were the people in Oregon, the Sandwich Islands , and Latin America, who were the first to start flocking to...
town of San Francisco, California
San Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
, where they opened a business selling imported goods and exporting gold bullion. The business progressively became involved in financial transactions, first with its retail clients and then increasingly with commercial clients.
Over time, the business expanded into the banking and foreign exchange
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
businesses. Seeking to expand operations to Europe, the Lazard brothers opened offices in Paris and London in 1858 and 1870, respectively. By 1876, Lazard's businesses had become solely focused on providing financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
. In 1880, Alexandre Weill, the founding brothers’ cousin, assumed control of Lazard. Noted philanthropist 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.
1914 to present
The period between the two wars saw Lazard ensuring a supremacy in the banking world under the direction of Raymond Philippe, followed by André MeyerAndré Meyer
André Benoit Mathieu Meyer was a French-born American Wall Street investment banker.Meyer was born in Paris to a low-income family. As a boy, he began following the workings of the stock market and out of necessity left school at age sixteen to work as a messenger at the Paris Bourse...
. The post World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
period saw the American operations expand significantly as a mergers and acquisitions specialist under the leadership of Meyer and Felix Rohatyn
Felix Rohatyn
Felix George Rohatyn is an American investment banker known for his role in preventing the bankruptcy of New York City in the 1970s, who also served as United States Ambassador to France. He was a long term advisor to the U.S...
. In 1977, the firm then came to be controlled by Michel David-Weill
Michel David-Weill
Michel David-Weill is a French investment banker and former Chairman of New York City based Lazard Frères.He is the son of Berthe Haardt and Lazard Frères chairman Pierre David-Weill...
, as the health of Meyer began to deteriorate. In 1997, Steven Rattner
Steven Rattner
Steven Lawrence Rattner is an American financier who served as the lead auto advisor in the United States Treasury Department under President Barack Obama...
became the deputy chief executive at Lazard, when that position was created for operational management. Rattner left the position in 1999 and left Lazard in 2000 to form Quadrangle Group
Quadrangle Group
Quadrangle Group is a private investment firm focused on private equity. The firm invests in middle-market companies within the media, communications and information-based sectors....
.
In 2000, under David-Weill's leadership, the three houses of Lazard were formally unified as Lazard LLC. In 2002, David-Weill hired Bruce Wasserstein
Bruce Wasserstein
Bruce Jay Wasserstein was an American investment banker and businessman. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at Cambridge University...
as CEO. The pair subsequently became embroiled in a much-publicized corporate fight in which David-Weill said he regretted the hiring. In mid-2004, Lazard began to publicly consider an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
.
The tension between David-Weill and Wasserstein culminated in May 2005, when Wasserstein completed an IPO of the firm, ending over 150 years of private ownership. Although David-Weill and other descendants of the founding family had wanted the company to remain private, they had handed out significant amounts of company shares in remuneration packages to employees. As a result, many employees owned shares in Lazard, and since many of them wanted to cash out, they voted with Wasserstein to go public.
Since 2005, Lazard has pursued an aggressive expansion of its financial advisory business. In addition to opening numerous offices around the globe to serve growing markets, Lazard has also made several strategic acquisitions. It purchased a controlling stake in the Argentinian investment bank MBA (now renamed MBA Lazard), expanded into Australia by purchasing investment bank Carnegie Wylie (now renamed Lazard Carnegie Wylie
Lazard Carnegie Wylie
Lazard Carnegie Wylie is a boutique investment bank that advises in mergers and acquisitions, restructurings, IPO's and related transactions. The firm was founded in 2000 by John Wylie and Mark Carnegie. In July 2007 Carnegie, Wylie & Co was acquired by Lazard and is now a subsidiary of Lazard...
) and purchased a middle market investment bank in the United States (Goldsmith Agio Helms & Lynner, now renamed Lazard Middle Market). All acquisitions have been fully integrated into the firm (the name differences are in place because of existing client relationships) and are part of the Lazard Group. In addition, the firm has strategic partnership agreements or joint ventures with numerous firms, including Lazard Capital Markets, Lazard Alternative Investments, Lazard-Natixis and Raiffeissen Investment, an investment bank with Eastern European ties. In July 2009, Lazard acquired the management vehicle of Chicago-based middle market Private Equity Firm The Edgewater Funds.
Lazard continued to be led by Wasserstein, who held the positions of Chairman and CEO until October 14, 2009 when he died suddenly.
Real estate
Lazard had a long history in the real estate investment management business, but had exited the sector in 1989 after the collapse of the ill-fated International Design Center of New York complex in QueensQueens
Queens is the easternmost of the five boroughs of New York City. The largest borough in area and the second-largest in population, it is coextensive with Queens County, an administrative division of New York state, in the United States....
, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. In 1993, Anthony E. Meyer
Anthony E. Meyer
Anthony Edward Meyer is a private investor, entrepreneur and philanthropist who manages a family office, investment management company alongside his father, Edward H. Meyer ], retired Chairman, Chief Executive Officer and President of Grey Global Group...
co-founded Lazard Frères Real Estate Investors, Meyer, together with co-founders Arthur P. Solomon and Robert P. Freeman, engineered Lazard’s re-entry into the property investment sector.
When Rockefeller Center
Rockefeller Center
Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...
was put up for sale in 1995, Meyer and Lazard teamed with another young investor, William Ackman
William Ackman
William A. Ackman or commonly known as Bill Ackman is the major investor, founder and CEO of hedge fund Pershing Square Capital Management LP. At one point in December 2007 his funds owned a 10% stake in Target Corporation, valued at $4.2 billion through the purchase of stock and derivatives. His...
, the outspoken founder of Gotham Partners (and now the highly-successful activist investor with Pershing Square Capital Partners), to compete against industry giants Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
and Tishman Speyer Properties
Tishman Speyer Properties
Tishman Speyer Properties is a real estate building and operating company set up in 1978 by two founding partners, Jerry Speyer and Robert Tishman.-Overview:...
for ownership. While the bid for Rockefeller Center was unsuccessful, Meyer and Ackman set an early precedent for what Carl Icahn
Carl Icahn
Carl Celian Icahn is an American business magnate and investor.-Biography:Icahn was raised in Far Rockaway, Queens, New York City, where he attended Far Rockaway High School. His father was a cantor, his mother was a schoolteacher...
would later refer to as activist investing.
Meyer went on to establish international investment activities for Lazard in both London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. After the firing of Arthur Solomon as the head of Lazard's real estate division in 1999, Meyer sold his significant minority interest in Lazard Frères Real Estate Investors and moved on to establish Meyer and Co. LLC, an investment and venture capital firm.
Office locations
AmsterdamAmsterdam
Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...
Atlanta BahrainBahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
BeijingBeijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
BrusselsBrussels
Brussels , officially the Brussels Region or Brussels-Capital Region , is the capital of Belgium and the de facto capital of the European Union...
BogotaBogotá
Bogotá, Distrito Capital , from 1991 to 2000 called Santa Fé de Bogotá, is the capital, and largest city, of Colombia. It is also designated by the national constitution as the capital of the department of Cundinamarca, even though the city of Bogotá now comprises an independent Capital district...
BordeauxBordeaux
Bordeaux is a port city on the Garonne River in the Gironde department in southwestern France.The Bordeaux-Arcachon-Libourne metropolitan area, has a population of 1,010,000 and constitutes the sixth-largest urban area in France. It is the capital of the Aquitaine region, as well as the prefecture...
BostonBoston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
Buenos AiresBuenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
CharlotteCHARLOTTE
- CHARLOTTE :CHARLOTTE is an American blues-based hard rock band that formed in Los Angeles, California in 1986. Currently, they are signed to indie label, Eonian Records, under which they released their debut cd, Medusa Groove, in 2010. Notable Charlotte songs include 'Siren', 'Little Devils',...
ChicagoChicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
DubaiDubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
FrankfurtFrankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
HamburgHamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
Hong KongHong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
Houston LimaLima
Lima is the capital and the largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín rivers, in the central part of the country, on a desert coast overlooking the Pacific Ocean. Together with the seaport of Callao, it forms a contiguous urban area known as the Lima...
London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
Los AngelesLos Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
LyonLyon
Lyon , is a city in east-central France in the Rhône-Alpes region, situated between Paris and Marseille. Lyon is located at from Paris, from Marseille, from Geneva, from Turin, and from Barcelona. The residents of the city are called Lyonnais....
MadridMadrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
MelbourneMelbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
MilanMilan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
Minneapolis MontevideoMontevideo
Montevideo is the largest city, the capital, and the chief port of Uruguay. The settlement was established in 1726 by Bruno Mauricio de Zabala, as a strategic move amidst a Spanish-Portuguese dispute over the platine region, and as a counter to the Portuguese colony at Colonia del Sacramento...
MontrealMontreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
MumbaiMumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
New YorkNew York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
Panama CityPanama City
Panama is the capital and largest city of the Republic of Panama. It has a population of 880,691, with a total metro population of 1,272,672, and it is located at the Pacific entrance of the Panama Canal, in the province of the same name. The city is the political and administrative center of the...
ParisParis
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
PerthPerth, Western Australia
Perth is the capital and largest city of the Australian state of Western Australia and the fourth most populous city in Australia. The Perth metropolitan area has an estimated population of almost 1,700,000....
RiyadhRiyadh
Riyadh is the capital and largest city of Saudi Arabia. It is also the capital of Riyadh Province, and belongs to the historical regions of Najd and Al-Yamama. It is situated in the center of the Arabian Peninsula on a large plateau, and is home to 5,254,560 people, and the urban center of a...
San Francisco São PauloSão Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
SantiagoSantiago, Chile
Santiago , also known as Santiago de Chile, is the capital and largest city of Chile, and the center of its largest conurbation . It is located in the country's central valley, at an elevation of above mean sea level...
SeoulSeoul
Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
SingaporeSingapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
StockholmStockholm
Stockholm is the capital and the largest city of Sweden and constitutes the most populated urban area in Scandinavia. Stockholm is the most populous city in Sweden, with a population of 851,155 in the municipality , 1.37 million in the urban area , and around 2.1 million in the metropolitan area...
SydneySydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
TokyoTokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
TorontoToronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
Washington, D.C.Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
ZürichZürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
http://lazard.com/Global_Contacts.aspx
Past Chairmen
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André Meyer André Benoit Mathieu Meyer was a French-born American Wall Street investment banker.Meyer was born in Paris to a low-income family. As a boy, he began following the workings of the stock market and out of necessity left school at age sixteen to work as a messenger at the Paris Bourse... Michel David-Weill Michel David-Weill is a French investment banker and former Chairman of New York City based Lazard Frères.He is the son of Berthe Haardt and Lazard Frères chairman Pierre David-Weill... Bruce Wasserstein Bruce Jay Wasserstein was an American investment banker and businessman. He was a graduate of the McBurney School, University of Michigan, Harvard Business School, and Harvard Law School, and spent a year at Cambridge University... (2005–2009) |
Current executives
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Board of Directors
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Ellis Jones (chief executive) Ellis B. Jones is the Chief Executive Officer of Wasserstein & Co.Jones graduated from the Yale School of Management and the University of California, Berkeley.... |
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Gary Parr Gary W. Parr is currently the Deputy Chairman of Lazard Frères and has been with the company since 2003. For over 25 years, he has focused on providing strategic advice to financial institutions and has brokered many of the largest transactions of the subprime mortgage crisis... |
Hal S. Scott Hal S. Scott is the Director of the Committee on Capital Markets Regulation and an independent director of Lazard, Ltd. He is a past President of the International Academy of Consumer and Commercial Law and a past Governor of the American Stock Exchange .He is the Nomura Professor and Director of... |
Business
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Politics, Public Service & Other
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External links
- Lazard Homepage
- Lazard Asset Management
- Wikinvest Company Profile