Welcome to our dedicated page for Lazard news (Ticker: LAZ), a resource for investors and traders seeking the latest updates and insights on Lazard stock.
Lazard, Inc. reports developments in financial advisory and asset management, its two recurring business lines. The firm provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, while its asset management business offers investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals.
Recurring LAZ news includes quarterly operating results, monthly assets-under-management updates with flow, market, foreign-exchange and asset-class detail, common-stock dividend declarations, additions to advisory sector groups, and strategic updates for the global platform. Coverage also reflects the firm’s operations in North and South America, Europe, the Middle East, Asia and Australia.
Lazard Ltd (NYSE: LAZ) has appointed Mary Ann Betsch as its new Chief Financial Officer (CFO), effective October 3. She takes over from Evan L. Russo, who served as CFO since 2017 and transitioned to CEO of Lazard's Asset Management division in June 2022. Betsch brings over 20 years of experience, having previously led finance at Citadel and worked at PwC. Her extensive financial background is expected to enhance Lazard's senior leadership and business strategy.
Lazard Ltd (NYSE: LAZ) reported operating revenue of $676 million for Q2 2022, down 18% year-over-year. Adjusted net income was $96 million or $0.92 per share. The firm returned $526 million to shareholders year-to-date, including the repurchase of 10.6 million shares. While Financial Advisory revenue decreased 14%, Asset Management revenue fell 23%. Total Assets Under Management (AUM) dropped 22% from the previous year, ending at $217 billion.
The strong capital return strategy reflects Lazard's commitment to enhancing shareholder value amid challenging market conditions.
Lazard Ltd (NYSE: LAZ) has increased its quarterly dividend by 6% to $0.50 per share. This dividend will be payable on August 19, 2022, to stockholders who are on record as of August 8, 2022. This decision reflects the company's commitment to returning value to its shareholders while maintaining a strong financial position in the market.
Lazard Ltd (NYSE: LAZ) has appointed John Goldasich as a Managing Director in its Consumer and Retail Group, effective immediately. Based in Charlotte, North Carolina, Goldasich focuses on the restaurant and food service sectors. He brings over 18 years of investment banking experience, having previously served as a Partner at Arlington Capital Advisors, where he specialized in M&A for restaurants and franchising. His expertise aims to enhance Lazard’s advisory services in the private market consumer sector.
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Lazard Ltd (NYSE: LAZ) has appointed Prasad Parmeshwaran as a Managing Director in its Healthcare Group within Financial Advisory, effective immediately. Based in San Francisco, Mr. Parmeshwaran will primarily focus on advising clients in the biotechnology and diagnostics sectors. He brings nearly two decades of relevant experience, most recently as Managing Director at Cowen Inc. where he led the Healthcare M&A group. His expertise is expected to strengthen Lazard’s capabilities in advising on strategic transactions in the healthcare space.
Lazard Ltd (NYSE: LAZ) will announce its Q2 2022 and first-half results on July 28, 2022. The press release will be available on www.lazard.com. A conference call is scheduled for 8:00 a.m. EDT on the same day to discuss these financial results, accessible via live audio webcast or by phone. Replay options will be available post-conference. Lazard, established in 1848, is a leading financial advisory and asset management firm with operations in 40 cities across 25 countries, providing a range of financial services.
Lazard Ltd (NYSE: LAZ) reported a preliminary total of $216.6 billion in assets under management (AUM) as of June 30, 2022. The AUM reflects a decline due to market depreciation of $13.1 billion, foreign exchange losses of $3.7 billion, and net outflows totaling $2.5 billion. The average AUM for Q2 2022 was $225.7 billion, compared to $235.9 billion in May 2022.
Lazard Ltd (NYSE: LAZ) has appointed Ajay Dhankhar as Managing Director in the Healthcare Group of Financial Advisory, effective immediately. Mr. Dhankhar will act as Global Head of Medical Technology, Diagnostics, and Tools, advising clients in biopharmaceuticals and healthcare technology. With over 50 major transactions under his belt, he join from McKinsey & Company, enhancing Lazard's advisory capabilities in a growing healthcare sector.
Lazard Ltd (NYSE: LAZ) has appointed Bryce Dakin as a Managing Director in its Technology Group within Financial Advisory, effective immediately. Based in San Francisco, Dakin brings nearly three decades of experience in the semiconductor and applied technologies sectors, enhancing Lazard's service offerings. Previously, he served as Global Head of Technology Corporate Advisory at Greenhill and has a background at GCA, SoundView Technology Group, and Montgomery Securities. His expertise and extensive relationships are expected to strengthen Lazard's technology coverage.