 | |
 Headquarters at30 Rockefeller Plaza | |
| Formerly |
|
|---|---|
| Company type | Public |
| |
| Industry | Financial services |
| Founded | July 12, 1848; 177 years ago (1848-07-12) New Orleans,Louisiana, U.S. |
| Founders |
|
| Headquarters | 30 Rockefeller Plaza,New York City, U.S. |
Key people |
|
| Products | |
| Revenue |  US$3.05 billion (2024) |
| US$386 million (2024) | |
| US$280 million (2024) | |
| AUM |  US$226 billion (2024) |
| Total assets | US$4.79 billion (2024) |
| Total equity | US$636 million (2024) |
Number of employees | 3,263 (2024) |
| Website | lazard |
| Footnotes / references [1] | |
Lazard Inc. (formerly known asLazard Ltd andLazard Frères & Co.) is afinancial advisory andasset management firm that engages ininvestment banking,asset management and otherfinancial services, primarily with institutional clients. It is the world's largest independent investment bank, with principal executive offices in New York City, Paris and London.[2]
Lazard was founded in 1848 and operates from 41 cities across 26 countries in North America, Europe, Asia, Australia, and Central and South America.[3] The firm provides advice onmergers and acquisitions, strategic matters,restructuring and capital structure, capital raising andcorporate finance, as well asasset management services to corporations, partnerships, institutions, governments and individuals.[3]
On July 12, 1848, three French brothers, Alexandre Lazard, Lazare Lazard, andSimon Lazard, founded Lazard Frères & Co. as adry goods merchant store inNew Orleans,Louisiana. By 1851, Simon and two more brothers, Maurice and Elie, had all moved toSan Francisco, California, while Alexandre moved to New York. With theGold Rush in full swing, the brothers traded in gold between San Francisco and Western Europe.[4]
In 1854, Alexandre Lazard moved toParis, France, where he opened an office to complement the U.S. business. The firm began advising the French government on gold buying. In 1870, the firm continued to expand its international operations, opening an office in London as well.[5]
The name "Lazard Frères" means "Lazard Brothers" or "the Brothers Lazard" in French. It refers to associations of the Lazard brothers to form various financial services institutions with world-wide offices and investments.
In the late 1800s and early 1900s, the firm evolved into three "Houses of Lazard" in the United States, France, and the United Kingdom, separately managed but allied. The Lazard partners advised clients on financial matters and built a cross-border network of high-level relationships in business and government. Noted financial advisorGeorge Blumenthal rose to prominence as the head of the U.S. branch of Lazard Frères and was a partner of Lazard Frères in France.[5]
In the economic boom followingWorld War II, the American operations of Lazard expanded significantly under the leadership of the French financierAndré Meyer. Meyer and Lazard partnerFelix Rohatyn have been credited with virtually inventing the modernmergers and acquisitions (M&A) market.[6]
In 1953, Lazard Investors Ltd began an asset management business in London, which is the origin of today's Lazard Asset Management.[7]
In 1977, as the health of Meyer began to deteriorate, the firm came to be controlled byMichel David-Weill. Under his leadership, the three houses of Lazard were formally united in 2000 as Lazard LLC.[8]
In 2002, David-Weill hiredBruce Wasserstein to be CEO. Lazard became a public company in 2005, with nearly two-thirds of its shares owned by current and former employees. Wasserstein became its first chairman and CEO. In connection with theinitial public offering (IPO), Lazard spun off its broker-dealer business, Lazard Capital Markets.[6]
Following Wasserstein's death in 2009, Lazard's board of directors electedKenneth M. Jacobs as chairman and CEO.[9]
During the Greek sovereign debt crisis, Lazard served as advisor to the Greek government, securing "the biggest restructuring deal in history" in 2012. They were hired again by the incoming Syriza party in 2015.[10]The crisis was finally resolved in 2018.[11]
Lazard invested in a startup investment bank, Independence Point Advisors, in late 2021.[12][13]
On May 26, 2023, the firm announced thatPeter R. Orszag, CEO of Financial Advisory, had been unanimously elected by its Board to serve as CEO of Lazard and as a Board Director, effective October 1, 2023.[14] Orszag became chief executive officer of Lazard on October 1, 2023.[15] On January 1, 2025, Orszag's role expanded to serve as CEO and Chairman of Lazard's Board of Directors.[16]
The publicly traded partnership Lazard Ltd was reincorporated under theDelaware General Corporation Law effective January 1, 2024 and changed its name from Lazard Ltd to Lazard, Inc.[17]
In 2025, Lazard and alternative credit firm Arini Capital Management have formed a strategic alliance to collaborate on sourcing and direct lending opportunities across Europe, the Middle East, and Africa.[18]
Lazard advises clients on a wide range of strategic and financial issues. These may include advising on the potential acquisition of another company, business or certain assets, or on the sale of certain businesses, assets or an entire company. The firm also advises on alternatives to a sale such as recapitalizations, spin-offs, carve-outs and split-offs. For companies in financial distress or their creditors, Lazard advises on all aspects of restructuring. The firm has advised on many of the largest restructuring assignments during and after the2008 financial crisis.[19] Lazard also advises on capital structure and capital raising. Capital structure advice includes reviewing and analyzing structural alternatives and assisting in long-term planning. Capital raising advice includes private and public market financing. Lazard's Sovereign Advisory group advises governments and sovereign entities on policy and financial issues.[20]
Lazard's asset management business providesinvestment management and financial advisory services to institutional clients, financial intermediaries, private clients, and investment vehicles around the world. The firm manages assets on behalf of institutional clients (corporations,labor unions, publicpension funds,endowments,foundations,insurance companies, and banks; and through sub-advisory relationships,mutual fund sponsors,broker-dealers and registered advisors) and individual clients (principallyfamily offices andhigh-net-worth individuals).[3]
The bank operates[3] from 39 cities across 22 countries.[21]
InParis, the Lazard offices were located successively at 17, boulevard Poissonnière (1885–1907);[5] 5–7, rue Pillet-Will (1907–1979);[5] 141, boulevard Haussmann (1979–2020);[22] and 175,boulevard Haussmann (since September 2020).[23]
Lazard's New York City headquarters spans the top floors of30 Rockefeller Plaza,[24] including what used to beRoom 5600, the former offices of theRockefeller family dynasty.[25]
Lazard's board of directors as of October 2025:[26]
