Lazard is set to hire Brian McCabe from JPMorgan Chase & Co to head the investment bank's energy practice in North America, two people familiar with the matter said on Thursday.
LAZ's April AUM rises 6.2% to $275.4B, driven by market gains, FX appreciation and modest net inflows as equity and alternatives lead growth.
Lazard lacks a durable competitive moat in investment banking or asset management, raising doubts about its ambitious growth targets. LAZ's business is highly cyclical, with recent revenue declines and volatile profitability tied to capital market activity. The company aims to double annual revenues by 2030, but its muted growth history and weak operating momentum make this target questionable.
| Capital Markets Industry | Financials Sector | Peter R. Orszag CEO | LSE Exchange | US52110M1099 ISIN |
| US Country | 3,253 Employees | 11 May 2026 Last Dividend | - Last Split | 5 May 2005 IPO Date |
Lazard, Inc. is a distinguished financial advisory and asset management firm that has established a global footprint across North and South America, Europe, the Middle East, Asia, and Australia. Founded in 1848 and headquartered in New York, New York, Lazard operates through its subsidiaries to offer comprehensive financial services. It is structured into two main segments: Financial Advisory and Asset Management, catering to a diverse clientele that includes corporations, partnerships, institutions, governments, sovereign entities, and individuals. Lazard's extensive industry expertise covers a wide range of sectors such as consumer, financial institutions, healthcare and life sciences, industrials, power and energy/infrastructure, real estate, technology, telecommunications, and media and entertainment.
This segment provides a plethora of financial advisory services inclusive of mergers and acquisitions, capital markets advisory, shareholder and geopolitical advisory, and various strategic advisory services. Moreover, it engages in restructuring and liability management, along with capital raising and placement services. These services are tailored for a broad spectrum of clients, ranging from corporate, partnership, institutional, government, sovereign, to individuals within numerous industry areas.
The Asset Management segment delivers a comprehensive array of investment solutions and wealth management services in equity and fixed income strategies. It focuses on asset allocation strategies and alternative investments including private equity funds, catering to a varied clientele such as corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients.