Lazard's New CEO Aims to Double Revenue by 2030
Lazard's new CEO, Peter Orszag, has set a goal to double the company's revenue by 2030, aiming for significant growth in the coming years.
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Lazard
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"Lazard's New Chief Predicts Doubling Share Price and Revenues in the Next Decade"
The new chief of Lazard has reportedly told staff that the company's share price and revenues have the potential to double over the course of this decade.
Swedish Lazard Chair Faces Aggravated Bribery Charges
The chair of Lazard in Sweden has been charged with aggravated bribery, as authorities allege that he offered a bribe to a Swedish government official in exchange for information about an ongoing investigation. The charges highlight the ongoing issue of corruption in the business world.
Lazard MD Fired for Inappropriate Behavior Buys $7m House
Lazard has fired Reid Snellenbarger, its Chicago-based co-head of restructuring and capital solutions, following allegations of inappropriate behavior at a party. Snellenbarger, who was hired from Houlihan Lokey in April, recently purchased a $7 million home on Lake Geneva. The details of the alleged infraction are still unclear, but there are unconfirmed reports that interns may have been present at the party. Lazard may now need to find a new head of restructuring, although it had already hired Sanjeev Khemlani as a co-head alongside Snellenbarger.
business2 years ago
Lazard Terminates Harassing Banker Amidst Employee Allegations
Lazard, a prominent financial advisory and asset management firm, has fired a top restructuring banker following allegations of harassment by multiple employees. The banker, who held a senior position at the company, was accused of engaging in inappropriate behavior towards colleagues. Lazard's decision to terminate the individual reflects the growing importance of addressing workplace misconduct and maintaining a safe and respectful environment for employees.
Peter Orszag appointed as new CEO of Lazard.
Lazard has announced that Peter Orszag, who leads its core financial advisory business, will succeed Ken Jacobs as the company’s chief executive on Oct. 1. Mr. Jacobs will stay on as executive chairman and continue to advise clients. Mr. Orszag, a former Obama administration official, will oversee a 175-year-old financial institution with a long history of advising on major corporate deals at a time when its mainstay business faces huge challenges.
Peter Orszag Takes Over as CEO of Lazard, Sets High Goals
Investment bank Lazard has appointed Peter Orszag, a former director of the Office of Management and Budget under President Barack Obama, as its new chief executive. Orszag, who has also worked at Citigroup and as a columnist for Bloomberg Opinion, will take over from Kenneth Jacobs, who will become chairman of the board.
business2 years ago
Peter Orszag appointed as Lazard's new CEO
Investment bank Lazard has announced that Peter Orszag, a former director of the Office of Management and Budget under President Obama, will become its next CEO. Orszag, who has been with Lazard since 2016, will take over from current CEO Kenneth Jacobs in the fall. The move comes as Lazard seeks to expand its business beyond traditional investment banking and into areas such as asset management and private equity.
Lazard CEO Ken Jacobs to Step Down and Hand Over Reins.
Ken Jacobs is expected to step down as CEO of Lazard, a global financial services firm. Jacobs has been with the company for over 30 years and has served as CEO since 2009. The leadership change is expected to take place in the coming months.
business2 years ago
Lazard CEO Ken Jacobs to Hand Over Reins to Successor.
Ken Jacobs, the CEO of Lazard, is preparing to step down and hand over the reins to his lieutenant, Alexander Stern. Jacobs has been at the helm of the investment bank for over a decade and will remain as chairman. Stern, who has been with Lazard for 16 years, will take over as CEO in the coming months.
Lazard Cuts Jobs by 10% Amid Dealmaking Slump and Cost Containment
Financial advisory firm Lazard is set to cut 10% of its staff to reduce costs amid a slowdown in dealmaking. The move comes as the company reported a 7% drop in revenue for the third quarter of 2019. Lazard is not alone in making cuts, as other financial services firms have also been reducing headcount in response to market pressures.
First Republic Bank seeks strategic options with Lazard's help amid market turbulence.
First Republic has hired Lazard to explore options after its share price tumbled.
First Republic Bank's Stock Volatility Continues Amidst Strategic Review and Hiring of Advisers.
First Republic Bank's stock dropped 9% in after-hours trading after reports that the bank has hired advisers to review its options and manage the crisis. The bank has reportedly tapped Lazard to help it review its options and McKinsey for post-crisis planning. Options on the table include a sale, a capital infusion, and asset sales. The bank's stock rallied 30% in the regular trading day Tuesday, buoyed by reports that JPMorgan Chase was working to help bolster the bank's capital.
First Republic Bank seeks strategic options and potential lifeline from JPMorgan.
First Republic Bank has hired Lazard to assist with a review of strategic options, including potential acquisitions and partnerships, as the bank looks to expand its offerings in the financial services industry.