The World's Busiest Little Investment Bank

With M&A booming, privately held Lazard is thriving

Once or twice a month for the past eight years, Nicholas Jones, a partner at Lazard Brothers & Co. in London, has sat down with Martin Broughton, CEO of B.A.T Industries PLC, to review and critique the tobacco and financial-services giant's strategy. "It is very helpful to have an adviser like Nicholas," says Broughton. "He takes the emotion and heat out of the chase."

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