Lazard
A global independent financial advisory and asset-management firm serving corporations, institutions, governments and private clients.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Lazard is a multinational financial advisory and asset-management firm with principal executive offices in New York, Paris and London. The firm serves corporations, partnerships, institutional investors, governments, sovereign entities and selected individual clients. Its advisory work covers mergers and acquisitions, strategic review, restructuring, capital structure, capital raising, corporate finance and sovereign financial policy. Its asset-management business manages portfolios for institutional investors, family offices, high-net-worth individuals and clients reached through sub-advisory arrangements. The firm traces its origins to July 1848, when Alexandre Lazard, Lazare Lazard and Simon Lazard established Lazard Frères & Co. as a dry-goods merchant in New Orleans. The brothers and their associates subsequently expanded to San Francisco, New York and Paris. During the California Gold Rush, the business traded gold between the United States and Western Europe. Alexandre Lazard opened the Paris operation in 1854, and the firm later established a London presence in 1870. These locations became the basis of Lazard's long-running cross-border financial network. During the late nineteenth and early twentieth centuries, Lazard developed into three allied but separately managed houses in the United States, France and the United Kingdom. The houses advised business leaders and governments on financing, capital movements and corporate transactions. After the Second World War, the American business grew substantially under André Meyer, while Felix Rohatyn became associated with major restructuring and merger assignments. Their work helped establish Lazard's reputation as an influential independent adviser rather than a balance-sheet-focused commercial bank. Lazard began its modern asset-management activity in 1953 through Lazard Investors Ltd in London. The business later became Lazard Asset Management, one of the firm's two principal global activities. The advisory practice and asset-management business together distinguish Lazard from firms whose core model is primarily securities underwriting, lending or retail banking. The three houses were formally unified in 2000 as Lazard LLC under Michel David-Weill. Bruce Wasserstein became chief executive in 2002 and led the firm's transition to public ownership. Lazard completed its initial public offering in 2005, while employees and former employees retained a significant shareholding at the time. In connection with the IPO, Lazard separated its broker-dealer operation, which became Lazard Capital Markets. Kenneth M. Jacobs became chairman and chief executive after Wasserstein's death in 2009. Lazard has advised on prominent sovereign and corporate restructurings, including work for Greece during the European sovereign-debt crisis. The firm also continues to provide strategic and financial advice in complex cross-border transactions and to manage assets for institutions and private clients. Peter R. Orszag became chief executive on October 1, 2023, and his responsibilities expanded to include the chairmanship of Lazard's board on January 1, 2025. The publicly traded partnership was reincorporated in Delaware and renamed Lazard, Inc. effective January 1, 2024. Lazard's brand positioning rests on independence, senior-level advice, international reach and expertise in complex financial situations.
History
Lazard began in New Orleans on July 12, 1848, when Alexandre, Lazare and Simon Lazard founded a dry-goods business. The brothers soon developed commercial links across the United States and Europe. Simon and other family members moved to San Francisco during the Gold Rush, where the business traded gold between San Francisco and Western Europe, while Alexandre moved east and later established the firm's Paris office in 1854. A London office followed in 1870. The international network developed into three allied Lazard houses in the United States, France and the United Kingdom. Although separately managed, these houses shared the Lazard name, relationships and cross-border orientation. Their partners advised companies, wealthy families and governments on financing, capital movements and corporate strategy. In the twentieth century, the firm became particularly influential in the United States under André Meyer. Felix Rohatyn and other Lazard advisers were associated with major municipal, corporate and sovereign restructurings, helping shape the independent advisory model in investment banking. Lazard entered asset management in 1953 through Lazard Investors Ltd in London. This activity eventually became Lazard Asset Management and grew into a global investment business serving pension funds, endowments, foundations, insurers, corporations, financial intermediaries, family offices and high-net-worth clients. The three houses were consolidated in 2000 as Lazard LLC under Michel David-Weill. Bruce Wasserstein became chief executive in 2002 and prepared the firm for its 2005 initial public offering. The IPO transformed Lazard from a private partnership into a publicly traded company, while the firm separated its broker-dealer business into Lazard Capital Markets. Following Wasserstein's death in 2009, Kenneth M. Jacobs became chairman and chief executive. Lazard's advisory practice expanded its work in mergers and acquisitions, restructuring, capital structure, capital raising, corporate finance and sovereign advisory. Its work for Greece during the European sovereign-debt crisis made the firm a prominent adviser in one of the period's most consequential sovereign restructurings. In later years, Lazard continued to combine global advisory offices with a comparatively independent business model. Peter R. Orszag became chief executive in October 2023 and chairman in January 2025. The legal entity was reincorporated in Delaware and renamed Lazard, Inc. at the start of 2024.
- 2024
Corporate name change
[4]Lazard Ltd is reincorporated as a Delaware corporation and renamed Lazard, Inc.
- 2023
Peter Orszag becomes chief executive
[4]Peter R. Orszag succeeds Kenneth M. Jacobs as chief executive on October 1.
- 2012
Greek debt restructuring
[1]Lazard advises the Greek government during the restructuring of the country's sovereign debt.
- 2005
Initial public offering
[1]Lazard becomes publicly traded and separates its broker-dealer business in connection with the offering.
- 2000
Three Lazard houses are unified
[1]The formerly allied American, French and British houses are formally combined as Lazard LLC.
- 1953
Asset-management origins
[1]Lazard Investors Ltd begins an asset-management business in London, forming the historical base of Lazard Asset Management.
- 1870
London presence begins
[1]Lazard expands its international operations with an office in London.
- 1854
Paris office opens
[1]Alexandre Lazard establishes a Paris office, extending the firm's American and European commercial network.
- 1848
Lazard Frères & Co. is founded
[1]Alexandre, Lazare and Simon Lazard establish a dry-goods business in New Orleans.
Products and positioning
Independent, high-touch global financial advice and institutional asset management, with a strong reputation in complex transactions, restructurings and sovereign finance.
Investment banking advisory
Financial Advisory
Lazard advises companies, boards, investors, partnerships and governments on strategic and financial decisions. The practice includes mergers and acquisitions, divestitures, strategic reviews, capital structure, capital raising, corporate finance and sovereign advisory. Its independent model emphasizes senior advice in transactions and situations where conflicts, complexity or restructuring requirements are significant.
Corporate restructuring
Restructuring Advisory
The restructuring business advises debtors, creditors, governments and other stakeholders on financial distress, liability management, reorganizations and turnaround strategy. It has been an important part of Lazard's identity, particularly through major corporate, municipal and sovereign assignments.
Asset management · 1953
Lazard Asset Management
Lazard Asset Management manages investment portfolios for institutional clients such as pension funds, endowments, foundations, insurers, corporations and banks, as well as family offices and high-net-worth individuals. It also operates through sub-advisory relationships involving mutual-fund sponsors, broker-dealers and registered investment advisers.
Government and sovereign finance
Sovereign Advisory
Lazard's sovereign advisory work supports governments and sovereign entities on financial policy, debt, market access, restructuring and broader economic-financial questions. The practice is associated with the firm's long history of advising public-sector clients across borders.
Brand decisions
2024
Reincorporation and corporate name changeStrategyBackground
Lazard's publicly traded partnership structure was replaced by a Delaware corporate structure.
Action taken
The entity was reincorporated under Delaware corporate law and changed its name from Lazard Ltd to Lazard, Inc.
Aftermath
The Lazard brand continued under a corporate form while remaining publicly listed.
2023
Appointment of Peter Orszag as chief executiveOtherBackground
Lazard announced a planned leadership transition from Kenneth M. Jacobs.
Action taken
The board elected Peter R. Orszag, then chief executive of Financial Advisory, as chief executive effective October 1, 2023.
Aftermath
Orszag later assumed the additional role of chairman of the board effective January 1, 2025.
2005
Public-market transition and broker-dealer separationStrategyBackground
Lazard sought to convert its historic private-partnership structure into a publicly traded company while maintaining an independent advisory identity.
Action taken
The firm completed an initial public offering and spun off its broker-dealer business as Lazard Capital Markets.
Aftermath
The transaction established Lazard as a listed independent advisory and asset-management company.
2000
Unification of the three Lazard housesStrategyBackground
The American, French and British Lazard houses had historically operated as separate but allied organizations.
Action taken
They were formally consolidated as Lazard LLC.
Aftermath
The consolidation created a unified global firm while preserving the Lazard brand's cross-border advisory heritage.
Recent events
Lazard launches Lazard CL private capital advisory business[5]
Reported:
Lazard announced the launch of Lazard CL, a global private capital advisory business bringing together Lazard's private capital advisory operations and Campbell Lutyens businesses.
Lazard completes acquisition of Campbell Lutyens[5]
Reported:
Lazard announced that it had completed its acquisition of Campbell Lutyens. The transaction brings together the businesses under Lazard's private capital advisory operations.
Lazard launches Venture and Growth Banking team[6]
Reported:
Lazard announced that it had launched a new Venture and Growth Banking team in its UK Investment Banking business, focused on private growth equity and venture capital markets.
Lazard appoints Garri Jones and Nick James as managing directors[6]
Reported:
Lazard announced the appointments of Garri Jones and Nick James as managing directors in its UK Investment Banking business. They were due to join in January from Numis.
Lazard appoints leaders for its France investment banking business[7]
Reported:
Lazard announced that Jean-Louis Girodolle was named Chief Executive Officer of Lazard Investment Banking in France, and Charles-Henri Filippi and François Kayat were appointed Co-Chairs of Investment Banking in France, effective immediately.
Sources8 sources
- 1Lazarden.wikipedia.org
- 2Lazard official websitelazard.com
- 3Lazard leadershiplazard.com
- 4Lazard news and announcementslazard.com
- 5Lazard推出Lazard CL私人资本顾问业务prnewswire.com
- 6Lazard推出Venture and Growth Banking团队finanznachrichten.de
- 7Lazard任命法国投资银行业务负责人finanznachrichten.de
- 8Lazard appoints Girodolle CEO of Lazard Francetrend.az
Cite this profile: Cite the canonical profile. /brand-wiki/lazard · Editorial policy · How profiles are compiled