Lazard Ltd Stock Price, News & Analysis

Lazard Ltd (NYSE: LAZ) has announced the recruitment of Andrew Sweet as a Managing Director in their Charlotte office, focusing on the Industrials Group. Sweet, who has over 15 years of experience in M&A, private capital raising, and public financing, previously held positions at Stephens, Inc. and Hyde Park Capital. The firm, which operates in 41 cities worldwide, continues to enhance its advisory services to clients across various sectors.

Lazard Ltd (NYSE: LAZ) has appointed Medha Chadha and Jason Schoenholtz as Managing Directors in Financial Advisory, focusing on healthcare clients. Ms. Chadha will lead capital markets advisory, leveraging 16 years of equity capital markets experience, particularly in biotech. Mr. Schoenholtz, with nearly two decades in healthcare investment banking, will enhance the team's expertise in healthcare services. This strategic expansion aims to improve Lazard’s advisory capabilities in the healthcare sector.

Lazard Ltd (NYSE: LAZ) released its annual study on challenges and opportunities in the global healthcare sector, surveying 200 executives and investors. The report indicates that the majority expect the COVID-19 pandemic to persist through 2022 and beyond, raising concerns about vaccine hesitancy and new variants. Key findings include a permanent shift to digital healthcare, ongoing strategic M&A activity, and pricing challenges. The study reflects healthcare leaders' views on innovation and the implications of the pandemic, with expectations for increased virtual healthcare delivery and a focus on scientific advancement.

The Board of Directors of Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.11512 per share on its outstanding common stock. This distribution will be payable on October 22, 2021, to shareholders of record as of October 8, 2021. The ex-dividend date is set for October 7, 2021. The Fund's investment strategy focuses on total return through capital appreciation and income, investing in a diverse portfolio of US and non-US equities, including companies with market caps over $2 billion, and may also include emerging market investments.

Lazard Ltd (NYSE: LAZ) reported its preliminary assets under management (AUM) as of August 31, 2021, totaling approximately $282.8 billion. This figure included market appreciation of $5.0 billion and foreign exchange depreciation of $0.5 billion, alongside net outflows of $17 million. AUM composition showed equity at $228.8 billion, fixed income at $48.2 billion, and other investments at $5.8 billion.

Lazard Ltd (NYSE: LAZ) has appointed Simon Auerbach as Managing Director and Co-Head of Information Services in Financial Advisory’s Telecom, Media and Entertainment (TME) group, effective immediately. He will work alongside Richard Hoyle in New York. Auerbach brings extensive experience from Credit Suisse, Foros, and Goldman Sachs. His addition aims to enhance Lazard's TME capabilities, as stated by Garrett Baker, Global Co-Head of TME, who highlighted Auerbach's leadership in mergers and acquisitions within the sector.

Lazard Ltd (NYSE:LAZ) has appointed Patrick No as Managing Director in the Private Capital Advisory Group, effective immediately. Based in Singapore, No will focus on fundraising and secondary solutions in the Asia Pacific region. He brings extensive experience from Credit Suisse and J.P. Morgan, enhancing Lazard's advisory capabilities in this key market.

Holcombe Green, Global Head of Private Capital Advisory, highlighted that No's addition strengthens the team's expertise and supports the firm's growth strategy in APAC.

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) totaling approximately $278.4 billion as of July 31, 2021. This reflects a market appreciation of $2.2 billion but includes net outflows of $1.1 billion and foreign exchange depreciation of $0.2 billion. The AUM breakdown shows equity holdings at $224.992 billion, fixed income at $47.661 billion, and other assets at $5.699 billion.

Lazard Ltd (NYSE: LAZ) reported record operating revenue of $821 million for Q2 2021, up 51% year-over-year. Adjusted net income reached $146 million or $1.28 per share, representing a 94% increase compared to Q2 2020. For the first half of 2021, adjusted net income totaled $247 million with operating revenue reaching $1.469 billion.

The firm benefited from strong macroeconomic trends and significant M&A activities, advising on transactions including Vivendi's stake in Universal Music Group and Air Canada's financial assistance. Lazard also returned $161 million to shareholders in Q2 2021.