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. (NYSE: LAZ) is a financial advisory and asset management firm that regularly issues news and announcements related to its operations in investment banking and securities dealing. Founded in 1848, the company provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, alongside asset management and investment solutions for institutions, corporations, governments, partnerships, family offices, and high net worth individuals.
The LAZ news feed features earnings releases and financial updates, including quarterly and annual results and commentary on segment performance in Financial Advisory and Asset Management. Lazard also reports monthly and periodic assets under management (AUM) figures, broken down by categories such as equity, fixed income, and other strategies, giving insight into trends in its asset management platform.
Investors can also follow corporate developments such as leadership appointments, board changes, and updates on the firm’s long-term growth strategy. Lazard’s communications highlight initiatives in its asset management business, including the evolution of its global investment platform, the creation of roles like Chief Investment Officer for Lazard Asset Management, and the launch or conversion of investment products, such as an emerging markets equity ETF.
In addition, Lazard’s news includes information about capital markets transactions at the corporate level, such as senior notes offerings and tender offers for existing debt, which are relevant to understanding the company’s capital structure. For users tracking LAZ stock, this news page provides a centralized view of Lazard’s public announcements, from financial metrics and AUM updates to strategic hires and product developments across its advisory and asset management businesses.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) of approximately $224.2 billion as of October 31, 2020. This figure reflects a market depreciation of $3.9 billion and net inflows of $0.3 billion. For comparison, AUM as of September 30, 2020, was $227.8 billion. The composition of AUM includes equity at $179.6 billion, fixed income at $40.0 billion, and other assets at $4.6 billion.
Lazard (NYSE: LAZ) announced the return of Sam Whittaker as a Managing Director in its Financial Advisory division, effective immediately. Whittaker, who previously spent five years at PJT Partners, brings over 15 years of restructuring expertise. He will enhance Lazard UK’s Restructuring business alongside David Burlison, Co-Head of EMEA Restructuring. The firm recently made several senior appointments to strengthen its restructuring team, recognized as a global leader in the sector. Lazard’s Restructuring Group has a strong track record, advising major clients on complex assignments.
Lazard Ltd (NYSE: LAZ) reported operating revenue of $569 million for Q3 2020, a 3% decline from the previous year. Adjusted net income was $76 million, or $0.67 per share, marking a 14% decrease year-over-year. For the first nine months, adjusted net income was $218 million, down 22% from 2019. Financial Advisory revenue increased 1% to $307 million, while Asset Management revenue fell 8%. Lazard returned $50 million to shareholders in Q3 through dividends. Despite market challenges, the firm remains resilient with a strong financial position.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its common stock. This dividend is scheduled to be paid on November 20, 2020, to stockholders of record as of November 9, 2020.
As a leading financial advisory and asset management firm, Lazard operates in over 40 cities and 25 countries, providing services in mergers and acquisitions, capital raising, and asset management.
Lazard Asset Management LLC has announced the addition of Ryan Hutchinson and Stefan Wimmer to its team, introducing a new Digital Health investment strategy. The strategy focuses on companies benefiting from digital transformation in healthcare, aiming to enhance consumer experience and improve health outcomes. Hutchinson and Wimmer bring extensive experience from their previous roles at Global Thematic Partners, where they led the Digital Health Strategy. This move aligns with Lazard's commitment to thematic investment solutions amid changing macroeconomic conditions.
Lazard Ltd (NYSE: LAZ) announced the addition of Makinson Cowell effective December 1, 2020. Founded in 1989, Makinson Cowell specializes in capital markets and investor relations for leading FTSE100 and 250 companies. This integration aims to enhance Lazard's financial advisory capabilities by leveraging Makinson Cowell's expertise in the institutional investor landscape. CEO Cyrus Kapadia emphasized the increasing demand for trusted advisory services, positioning this move as beneficial for clients seeking strategic decision-making insights.
Lazard Ltd (NYSE: LAZ) has published its annual analyses comparing energy generation and storage costs. The Levelized Cost of Energy Analysis (LCOE 14.0) shows a continued decline in costs for onshore wind (2%) and utility-scale solar (9%). Utility-scale solar has a competitive average cost of $31/MWh versus $41/MWh for coal. Lazard's Levelized Cost of Storage Analysis (LCOS 6.0) indicates that storage costs have decreased, especially for lithium-ion technologies. Notably, this year's LCOE includes a study on hydrogen as a supplemental fuel.
Lazard Asset Management LLC (LAM) has expanded its alternative investment platform with a new New York-based team specializing in long/short credit strategy. The new team, consisting of Sal Naro, Vincent Mistretta, Michael Cannon, and Sanjay Aiyar, joins from Coherence Capital Partners, forming the Lazard Coherence investment team. This addition enhances LAM's capabilities, aligning with its existing fixed income offerings, and aims to achieve consistent absolute returns in the credit markets. As of June 30, 2020, LAM managed approximately $4.5 billion in client assets.
Lazard Ltd (NYSE: LAZ) will release its financial results for Q3 and nine months of 2020 on October 29, 2020. The press release will be accessible on their website. A conference call will be held at 8:00 a.m. EDT on the same day to discuss the results, and it will be accessible through a live audio webcast. Replay information will also be available after the call. Lazard, a leading financial advisory and asset management firm, provides various services including mergers and acquisitions advice, restructuring, and capital raising.
Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $227.8 billion as of September 30, 2020. The month’s AUM experienced a market depreciation of $3.2 billion, foreign exchange depreciation of $2.0 billion, but net inflows of $0.7 billion were recorded. The average AUM for the quarter ended September 30, 2020, stood at $226.0 billion. Comparatively, the total AUM was $232.3 billion as of August 31, 2020.