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Lazard Hires JPMorgan’s Slaughter as Banking Vice Chairman

Lazard Ltd. (LAZ), the largest independent merger-advisory firm, hired Larry Slaughter as a managing director and vice chairman in its investment-banking business.

Slaughter, 49, was previously co-head of North American investment banking at New York-based JPMorgan Chase & Co. (JPM), the biggest U.S. lender, and also served as head of European investment banking corporates in London, Lazard said today in a statement. He spent 26 years at the bank and focuses on transactions in industrials and automotives, the advisory firm said.

Lazard has targeted at least $125 million in expense reductions, giving the Hamilton, Bermuda-based company flexibility to hire senior employees, Chief Executive Officer Ken Jacobs, 54, told investors last week on a conference call. Slaughter resigned from JPMorgan as part of a long-standing plan to do something new with his career, the Financial Times reported in February, citing an interview.

“We have known and respected Larry for many years,” Antonio Weiss, Lazard’s global head of investment banking, said in the statement. “His industry knowledge, sound judgment and dealmaking skills will be of great value to our clients.”

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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