A Talk with Lazard Freres' New "Head"

I have complete authority, says Bruce Wasserstein, the investment bank's incoming boss, who vows to focus on clients, clients, clients

Financiers Andre Meyer and Felix Rohatyn made investment bank Lazard Freres into a major force in global finance. But in recent years, the firm has lost some of its prestige as its strong global market share in mergers and acquisitions has been challenged. On Nov. 15, Lazard announced that Michel David-Weill, chairman of Lazard's executive committee, will be succeeded in January by Wall Street dealmaker Bruce Wasserstein, 53. Wasserstein's title, literally, is "Head" of Lazard. David-Weill will remain chairman of the board of Lazard.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.