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Lazard Would Consider Bids for Asset Manager at Right Price

Ken Jacobs
Ken JacobsPhotographer: Michael Nagle/Bloomberg
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Lazard Ltd. Chief Executive Officer Ken Jacobs said that while he wants to hold on to the company’s $240 billion asset-management division, he’d consider a sale if the price were right.

Jacobs said there are many similarities between Lazard Asset Management and OppenheimerFunds, a unit of Massachusetts Mutual Life Insurance Co. that’s being sold to Invesco Ltd. for about $5.7 billion. Lazard’s money-management business could attract bidders as well, he said.