Lazard And Mediobanca: Shocks To The System

Two Old World banks face investor revolts. Both are putting up a fight

Anyone with doubts that the days of Old World-style finance are passing needed only to take a look at recent goings-on at two legendary European investment banks, France's Lazard Freres & Co. and Italy's Mediobanca. Once all-but-unassailable, they now both face shareholder revolts, internal power struggles, defections, and forced restructuring of their labyrinthine organizations. And all this is happening under a media microscope that has given the public a closer view than ever before of these historically powerful, secretive institutions.

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