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Lazard Promotes Peter Orszag to Lead Advisory as Alex Stern Named President

Peter Orszag

Peter Orszag

Photographer: David Paul Morris/Bloomberg
Updated on

Lazard Ltd. promoted Peter Orszag to chief executive officer of its financial-advisory business, succeeding Alex Stern, who was named president of the firm.

Stern, who’s also the current chief operating officer, shifts to a new role to support a companywide expansion, CEO Ken Jacobs said in an interview. Stern’s responsibilities include working to enhance technology efforts and helping Lazard Vice Chairman Ashish Bhutani boost the $234 billion asset-management unit -- a push that could include acquisitions.