lazard ltd-cl a (LAZ) Key Developments
Lazard Ltd. Announces Executive Changes
Apr 30 15
Lazard Ltd. announced that it has named Alexander F. Stern as Chief Executive Officer, Financial Advisory, and Matthieu Pigasse as Global Head, M&A and Sovereign Advisory. The appointments will drive the next phase of Lazard’s advisory growth plan, while delivering the quality advice to clients. Mr. Stern has served as Chief Operating Officer of Lazard since November 2008 and as Global Head of Strategy since February 2006, while continuing to advise clients. He was named a Managing Director in January 2002. Mr. Stern joined Lazard in 1994. Mr. Pigasse, CEO of Lazard France since 2009, has led Lazard’s global Sovereign Advisory Group since he joined the firm as a Managing Director in 2002. Previously, he served in various positions in the French Treasury and the French Ministry of Economy, Finance and Industry. Messrs. Stern and Pigasse will continue to serve in their current roles as Chief Operating Officer of Lazard and Chief Executive Officer of Lazard France, respectively.
Starwood To Explore Strategic And Financial Alternatives
Apr 29 15
Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) announced today that its Board of Directors has determined to explore a full range of strategic and financial alternatives to increase shareholder value, and has retained Lazard Ltd. (NYSE:LAZ) to assist in the process. Chairman of the Board, Bruce W. Duncan said, Our Board has always been focused on maximizing long-term shareholder value, and this is a time of enormous opportunity and change in our industry. Accordingly, we will thoroughly explore the full range of strategic and financial alternatives available to Starwood to capitalize on our industry-leading global platform and best-in-class premium brands. No option is off the table, and we will take the time we need to thoroughly evaluate our opportunities and achieve the best result for our shareholders, business partners, and associates.” The Board is in the beginning stage of the strategic and financial review, and no assurance can be given as to its outcome or timing. The company does not intend to make any further public comment regarding the review until it has been completed.
Lazard Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 23 15
Lazard Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $593,885,000 against $549,353,000 a year ago. Net revenue was $577,749,000 against $533,400,000 a year ago. Operating income was $74,663,000 against $107,180,000 a year ago. Net income was $62,646,000 against $85,429,000 a year ago. Net income attributable to company was $55,953,000 against $80,842,000 a year ago. Diluted net income per share was $0.42 against $0.61 a year ago. Operating revenue, as adjusted was $580,956,000 against $540,224,000 a year ago. Earnings from operations, as adjusted were $151,373,000 against $119,432,000 a year ago. Net income, as adjusted was $103,034,000 or $0.77 per share diluted against $81,275,000 or $0.61 per share diluted a year ago.
Lazard Ltd Announces Quarterly Dividend, Payable on May 15, 2015
Apr 22 15
Lazard Ltd. increased its quarterly dividend on its Class A common stock by 17% over its prior distribution to $0.35 per share, payable on May 15, 2015 to stockholders of record on May 4, 2015.
Lazard Ltd. to Report Q1, 2015 Results on Apr 23, 2015
Apr 8 15
Lazard Ltd. announced that they will report Q1, 2015 results at 8:00 AM, Eastern Daylight on Apr 23, 2015