August 18, 2017 6:35 PM ET

Capital Markets

Company Overview of Lazard Ltd

Company Overview

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, corporate preparedness, and various other financial matters. This segment serves corporate, partnership, institutional, government, sovereign, and individual clients. The company’s Asset Management segment offers a range of investment solutions and investment management services in equity and fixed income strategies; and alternative investments and private equity funds to corporations, public ...

Clarendon House

2 Church Street

Hamilton,  HM11

Bermuda

Founded in 1848

2,825 Employees

Phone:

441-295-1422

Key Executives for Lazard Ltd

Chairman and Chief Executive Officer
Age: 59
Total Annual Compensation: $4.4M
Chief Financial Officer
Age: 58
Total Annual Compensation: $1.6M
Chief Operating Officer and Chief Executive Officer of Financial Advisory
Age: 51
Total Annual Compensation: $2.8M
Vice Chairman, Managing Director and Chief Executive Officer of Lazard Asset Management
Age: 57
Total Annual Compensation: $4.6M
Chief Administrative Officer, General Counsel, MD & Secretary
Age: 54
Total Annual Compensation: $1.7M
Compensation as of Fiscal Year 2016.

Lazard Ltd Key Developments

Lazard Ltd Appoints Jerry Wiant as Managing Director in Financial Institutions Investment Banking

Lazard Ltd. announced that Jerry Wiant has joined the firm as a managing director in financial advisory, enhancing coverage of depository institutions. Based in New York, he will work closely with Gary Howe, head of the company’s financial institutions group, North America. Mr. Wiant was previously Co-Head of the RBC Capital Markets U.S. Financial Institutions Group. Mr. Wiant was a managing director and Co-Head of the RBC Capital Markets U.S. Financial Institution Group since 2009. Previously, he served 12 years collectively in Financial Institutions Groups at Citigroup and Lehman Brothers.

Lazard Ltd Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Tax Rate Guidance for the Full Year of 2017

Lazard Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenue of $729.946 million against $546.642 million a year ago. Net revenue was $717.180 million against $534.680 million a year ago. Operating income was $172.501 million against $113.236 million a year ago. Net income attributable to the company was $120.378 million or $0.91 per diluted share against $80.357 million or $0.61 per diluted share a year ago. Non-GAAP operating revenue was $720.161 million against $542.307 million a year ago. Non-GAAP earnings from operations were $197.159 million against $123.736 million a year ago. Non-GAAP net income was $129.840 million or $0.98 per diluted share against $80.357 million or $0.61 per diluted share a year ago. For the six months, the company reported total revenue of $1,367.366 million against $1,056.758 million a year ago. Net revenue was $1,340.644 million against $1,032.898 million a year ago. Operating income was $322.698 million against $211.613 million a year ago. Net income attributable to the company was $227.931 million or $1.72 per diluted share against $147.180 million or $1.11 per diluted share a year ago. Non-GAAP operating revenue was $1,344.595 million against $1,048.373 million a year ago. Non-GAAP earnings from operations were $361.318 million against $230.241 million a year ago. Non-GAAP net income was $239.981 million or $1.81 per diluted share against $147.180 million or $1.11 per diluted share a year ago. Net inflows were $2.9 billion for the first half of 2017. The company continued to build its asset management franchise through the development and scaling up of new strategies. The company provided tax rate guidance for the full year of 2017. For the year the company continue to expects a full year tax rate in the mid- to high 20s range for 2017. Continue to generate strong cash flow and expects to continue deploying future excess cash towards share repurchases and dividends.

Lazard Ltd Announces Several New Senior-Level Appointments

Lazard Ltd. announced that it has made several new senior-level appointments. Effective October 1, 2017, Evan Russo, Managing Director and Co-Head of Lazard’s Capital Markets and Capital Structure Advisory practice, will become Chief Financial Officer (CFO) of Lazard. Effective October 1, 2017, Matthieu Bucaille, CFO of Lazard since 2011, will become Chief Executive Officer of Lazard International and Chief Executive Officer of Compagnie Financière Lazard Frères and Lazard Frères Banque in Paris. As CFO of Lazard, Mr. Russo will be responsible for all finance functions, including financial reporting, treasury, investor relations, capital structure, risk management, portfolio management and capital allocation. He will also work closely with the firm’s leadership team on financial strategy. Prior to Lazard, Mr. Russo worked in Investment Banking at Goldman Sachs and at Barclays Capital. In his new roles, Mr. Bucaille will support Alexander F. Stern, CEO of Financial Advisory and Chief Operating Officer of Lazard, and Matthieu Pigasse, Global Head, M&A and Sovereign Advisory and Chief Executive Officer of Lazard Frères S.A.S., Lazard's financial advisory business in France, as well as Ashish Bhutani, CEO of Lazard Asset Management and Vice Chairman of Lazard, and its senior leadership. Prior to becoming CFO, Mr. Bucaille was based in France. Separately, Scott D. Hoffman, General Counsel of Lazard, will take on additional responsibilities as Chief Administrative Officer (CAO) of Lazard, a new position, effective immediately. As CAO and General Counsel of Lazard, Mr. Hoffman will drive the execution and coordination of initiatives and internal policies in support of the firm’s overall strategic objectives, provide input to and guidance in business planning, and continue to lead legal and compliance operations. Effective October 1, 2017, Mr. Bruno Roger, currently Chairman of Lazard in France, will become Vice Chairman of Lazard Group and Honorary Chairman of Lazard in France. As Vice Chairman of Lazard Group, Mr. Bruno Roger will advise Mr. Jacobs and the firm’s senior leadership on strategic and client matters. Roger will transition his responsibilities regarding Compagnie Financière Lazard Frères and Lazard Frères Banque to Mr. Bucaille and his responsibilities regarding Lazard Frères S.A.S. to Mr. Pigasse. Roger became a Managing Director of Lazard in 1974, and Chairman of Lazard France in 2002. Mr. Bruno Roger joined Lazard in 1960.

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