Lazard Ltd Stock Price, News & Analysis

Lazard Ltd (NYSE: LAZ) has appointed Wassim Al-Khatib as the new Chief Executive Officer of its Financial Advisory business in the Middle East and North Africa (MENA), pending regulatory approval. Al-Khatib will operate from the Riyadh office, which is set to be the regional hub for MENA Investment Banking. Peter Orszag, Lazard's CEO of Financial Advisory, expressed confidence in Al-Khatib's experience and leadership abilities. Previously, Al-Khatib was CEO of Citigroup Saudi Arabia and has significant transaction experience in the MENA region, highlighting Lazard's commitment to expanding its client engagement in this key market.

Lazard Ltd (NYSE: LAZ) will release its fourth-quarter and full-year 2022 financial results on February 2, 2023. The press release will be accessible on Lazard’s website. A conference call is scheduled for 8:00 a.m. EST on the same day to discuss these results. Participants can join via a live audio webcast or by calling designated numbers. A replay of the call will be available later that day. Lazard is a leading financial advisory and asset management firm, operating in 41 cities across 26 countries, providing services in mergers and acquisitions, restructuring, capital raising, and asset management.

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $216.1 billion as of December 31, 2022. The AUM report reflects a market depreciation of $5.7 billion, foreign exchange appreciation of $2.9 billion, and net outflows of $2.1 billion. The average AUM for the quarter stood at $211.2 billion. This financial performance highlights challenges in maintaining AUM amidst market fluctuations.

Lazard Asset Management has launched the Lazard U.S. Convertibles Portfolio, managed by Arnaud Brillois and his team. The fund focuses on U.S. convertible securities, allowing up to 20% in non-convertible securities. Benchmarking against the ICE BofA All U.S. Convertibles Index, the fund aims to provide investors exposure to equity rebounds while mitigating downside risks through its bond component. The investment team manages $6.5 billion across various strategies, employing a rigorous selection process.

Lazard Global Total Return and Income Fund (NYSE:LGI) has announced a monthly distribution of $0.09339 per share, representing an annualized yield of 7% based on its net asset value as of December 31, 2022. The distribution will be payable on January 23, 2023, to shareholders of record as of January 10, 2023, with an ex-dividend date of January 9, 2023. The Fund aims for total return through capital appreciation and current income, investing in a diversified portfolio of equity securities and emerging market currencies.

Lazard Asset Management (LAM) has made its first investment in DBE Energy, an anaerobic digestion plant located in Surrey, England. LAM partners with DBE’s management team, holding a majority stake. This investment aims to support the U.K.'s decarbonization and circular economy by generating renewable gas from organic waste. DBE Energy’s facility processes 25,000 tons of waste annually, producing up to 2.3 million cubic meters of biomethane, sufficient to power approximately 700 homes. This move reflects LAM's commitment to sustainable infrastructure investment and growth opportunities in the fragmented AD market.

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $221.0 billion as of November 30, 2022. The increase in AUM for the month included $12.1 billion from market appreciation and $4.3 billion due to foreign exchange. Additionally, net inflows amounted to $0.1 billion. The AUM figures reflect a significant rise from $204.6 billion reported on October 31, 2022.