- Plunge in oil prices is pushing more companies to seek advice
- Ziman has worked with MF Global, Millennium Health and Exide
Lazard Ltd., the largest independent merger adviser, hired lawyer Ken Ziman as a managing director in its restructuring business as slumping oil and coal prices weaken companies and spur deals.
Ziman most recently was a partner at Skadden Arps Slate Meagher & Flom where he worked with troubled companies, such as MF Global Holdings Inc. during its 2011 bankruptcy, one of the largest in U.S. history. He will take the new role at Lazard on March 1 and be based in New York, the investment bank said Tuesday in a statement.
Lazard’s restructuring business grew over the past year as energy and commodities companies struggled with the prolonged slide in oil and coal prices, according to David Kurtz, the investment bank’s global head of restructuring. The Bermuda-based firm has worked with Ziman before, and recently with mutual clients including Millennium Health, Dendreon Corp. and Exide Technologies, Kurtz said in an interview.
“Ken is a really unique individual, someone that we’ve known and worked with for a long time,” Kurtz said. “When the opportunity presented itself to attract him into our firm we just jumped at it.”
Ziman previously was a partner at Simpson Thacher & Bartlett, Lazard said. He received a degree from the University of Pennsylvania Law School and a bachelor’s from Colgate University, according to the statement.