Every 8-K that Lazard, Inc. (LAZ) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow LAZ and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LAZ filings page.
Lazard, Inc. reported second-quarter 2026 net revenue of $808 million and adjusted net revenue of $786 million, modestly above a year earlier, while U.S. GAAP net income fell to $5 million or $0.03 per diluted share. For the first half of 2026, net revenue was $1,564 million and adjusted net revenue $1,459 million, with GAAP net income of $106 million and adjusted net income of $60 million.
Financial Advisory net revenue declined, with Q2 2026 revenue of $450 million (down 9% year over year) and first-half revenue of $810 million, reflecting softer activity despite high-profile mandates including the $420 billion NextEra Energy–Dominion Energy combination and several multi‑billion‑dollar healthcare and other transactions.
Asset Management was the growth driver: Q2 2026 net revenue was $351 million, up 20% year over year, and first-half revenue was $761 million, up 31%. Assets under management reached a record $285 billion as of June 30, 2026, 15% above a year earlier, supported by average AUM of $271 billion in the first half and positive net flows of $7.4 billion.
Expenses remained elevated. The adjusted compensation ratio was 69.9% and the adjusted non‑compensation ratio 22.0% for the first half, contributing to an adjusted operating margin of 8.1%. The effective tax rate for Q2 was unusually high at 63.5% on a GAAP basis and 69.7% on an adjusted basis, which management describes as affected by anomalous factors. Lazard returned $277 million to shareholders in the first half, authorized an additional $200 million of share repurchases (total authorization about $257 million), and declared a quarterly dividend of $0.50 per share, ending the quarter with cash and cash equivalents of about $1.1 billion.
Lazard, Inc. announced a planned transition on its Board of Directors. Andrew M. Alper, a director for more than 13 years and Chair of the Compensation Committee as well as a member of the Audit Committee, has retired from the Board effective July 7, 2026. The company states his decision was not due to any disagreement regarding operations, policies, or practices.
On July 2, 2026, the Board elected Kathy Elsesser as a director, effective July 7, 2026. She will serve on the Compensation Committee and become its Chair upon Mr. Alper’s retirement. Elsesser is a retired Goldman Sachs Partner, former Global Chair of its Consumer Retail and Healthcare Groups, and currently serves on TPG Inc.’s Board and as Audit Chair of Sesame Workshop’s Board of Trustees.
Lazard notes she will receive compensation under its existing non-employee director program. The 8-K also furnishes, under Regulation FD, a press release (Exhibit 99.1) announcing her election and committee appointment, which is incorporated by reference but not deemed filed for liability purposes.
Lazard, Inc. reported results from its Annual Meeting of Shareholders. Investors approved an amendment to the Certificate of Incorporation to declassify the board over a three-year period, moving the company toward annual director elections. After this approval, Lazard filed the amendment in Delaware, making it effective and simultaneously putting new Amended and Restated By-Laws into effect to reflect the phased declassification and clarify terms for directors filling new seats or vacancies.
Shareholders also backed a non-binding advisory vote on executive compensation, approved changes to the 2018 Incentive Compensation Plan, and ratified Deloitte & Touche LLP as independent auditor for 2026. These actions collectively update Lazard’s governance framework while maintaining existing audit oversight.
Lazard, Inc. has entered into a Sale and Purchase Agreement to acquire 100% of Campbell Lutyens Holdings Limited, a global private capital advisory firm focused on fund placement, secondary advisory and GP capital advisory services. The aggregate consideration includes an initial closing payment of $460 million, a deferred payment of $115 million on the second anniversary of closing, and an earn-out of up to $85 million tied to revenue-growth targets through 2030.
The initial consideration is expected to be paid primarily in Lazard common stock using a $46.50 reference price, with cash used for closing adjustments. Deferred and earn-out amounts may be paid in stock, loan notes or cash, subject to a cap that limits total shares issued under the agreement to no more than 19.99% of Lazard’s voting power or outstanding shares at closing, with any excess settled in cash or loan notes. Some stock consideration will be subject to lock-up restrictions over roughly three years, and certain recipients face forfeiture and clawback terms.
The acquisition is subject to regulatory approvals, including conditions related to the U.K. Competition and Markets Authority, and may be terminated if not closed by March 31, 2027; in specified circumstances Lazard would owe a $50 million termination fee. Lazard expects the combined private capital advisory business, branded Lazard CL, to generate about $500 million in 2027 revenue and to be accretive to 2027 earnings and beyond.
Lazard, Inc. reported strong first‑quarter 2026 results with mixed GAAP and adjusted performance. Net revenue rose to $757 million, up 17% from the first quarter of 2025, driven largely by a 42% increase in Asset Management net revenue to $410 million. U.S. GAAP net income grew to $101 million, a 67% increase, or $0.91 per diluted share.
On an adjusted basis, net revenue was $673 million, up 5%, while adjusted net income declined to $47 million, down 23%, with adjusted diluted EPS of $0.42, down 25%. Financial Advisory adjusted net revenue slipped 4% to $356 million, while Asset Management adjusted net revenue rose 17% to $309 million. Assets under management reached $259 billion, up 14% year‑over‑year, supported by $9 billion of net inflows. Lazard also highlighted a definitive agreement to acquire Campbell Lutyens, expected to close in the second half of 2026, and returned $174 million to shareholders in the quarter.
Lazard, Inc. has entered a definitive agreement to acquire Campbell Lutyens Holdings Limited for total consideration of approximately $575 million, payable in part at closing and in part two years later. There is potential additional consideration of up to $85 million based on defined performance criteria over a multi‑year period.
The combined private capital advisory businesses are projected to generate approximately $500 million in estimated 2027 revenue and will form a new global unit, Lazard CL, alongside Lazard’s existing M&A and advisory franchises. Lazard CL will comprise more than 280 advisory professionals across 18 offices, supported by a 60‑person institutional distribution team and a large mandate and transaction track record in fundraising and secondary advisory.
Holcombe Green and Gordon Bajnai are appointed Co‑CEOs of Lazard CL, with Andrew Sealey as non‑executive Chairman. The transaction is expected to be accretive to 2027 earnings and thereafter, with closing anticipated in calendar year 2026, subject to regulatory approvals.
Lazard, Inc. is changing its finance leadership. The company appointed Tracy Farr as Chief Financial Officer effective February 1, 2026, succeeding Mary Ann Betsch, who will become Senior Advisor to the CEO until June 30, 2026, when her employment ends.
Farr, age 42, has been with Lazard since 2013 and most recently served as a Managing Director in the Capital Structure Advisory group. Under his offer letter dated January 28, 2026, his salary will increase to $750,000 and he will be eligible for a discretionary annual bonus on the same basis as other executive officers.
Betsch’s transition agreement provides continued base salary, benefits participation, and normal vesting of outstanding equity awards during the advisory period. As of her separation, she will be eligible for severance and equity treatment described in prior company disclosures, including a full annual bonus for 2025 equal to her 2024 bonus. Lazard also notes that, as in prior years, certain deferred incentive awards for employees (excluding named executive officers) scheduled to vest on March 1, 2026 may have vesting accelerated to earlier dates in February 2026.
Lazard, Inc. filed a Form 8-K to furnish a press release announcing its financial results for full year 2025 and the fourth quarter ended December 31, 2025. The press release is attached as Exhibit 99.1 and is incorporated by reference.
The company states that the information under Item 2.02, including Exhibit 99.1, is being furnished and not deemed “filed” for purposes of Section 18 of the Exchange Act, limiting associated liabilities and incorporation into other securities law filings.
Lazard, Inc. furnished an Item 2.02 update noting it issued a press release announcing financial results for its third quarter ended September 30, 2025. The press release is included as Exhibit 99.1 to the report.
The company states this information is furnished, not filed under the Exchange Act and is not incorporated by reference, limiting Section 18 liability.
Lazard, Inc. filed a Form 8-K to note that on September 10, 2025 it posted on its website a letter updating its vision and long-term growth strategy for “Lazard 2030.” The disclosure is furnished under Regulation FD, meaning it is intended to provide broad, simultaneous access to this strategic information.
The company explains that the letter and this report contain forward-looking statements about its long-term strategy, business plans and projected financial and operational performance, including initiatives related to artificial intelligence. Lazard highlights numerous risk factors that could cause actual results to differ, such as global economic and market conditions, levels of M&A activity, changes in assets under management, liquidity, competitive pressures on compensation, tax law changes, and the impact of investments in technology and data science capabilities.
Lazard, Inc. is changing leadership of its asset management business. Evan L. Russo will step down as Chief Executive Officer of Lazard’s asset management business effective on or around December 1, 2025, and no later than December 31, 2025. He will move into a non-executive role as Senior Advisor to the Company’s Chief Executive Officer and remain employed in that role through June 30, 2026, when his service with the company will end.
During this advisory period, Mr. Russo will keep his current base salary, remain in company benefit plans and continue to be eligible to vest in outstanding equity awards according to their existing terms. Upon his separation, he will be eligible for severance and equity treatment described in prior agreements and the 2025 proxy statement, with cash severance calculated as if his termination occurred on December 31, 2025. Lazard also appointed Christopher Hogbin as Managing Director and Chief Executive Officer of its asset management business, effective on a mutually agreed date no later than January 30, 2026.
Lazard, Inc. reported that its Board of Directors has elected Dmitry Shevelenko as a director, effective September 2, 2025. He has not yet been assigned to any board committee.
Upon joining the board, Mr. Shevelenko will receive compensation under Lazard’s standard compensation program for non-employee directors, as previously described in the company’s 2025 proxy statement. The company states there are no arrangements or understandings with any person regarding his appointment, no family relationships with existing directors or executives, and no related-party transactions requiring disclosure.
Lazard also furnished a press release announcing his election as Exhibit 99.1, which is treated as “furnished” rather than “filed” under securities law.
Lazard, Inc. filed an 8-K announcing two capital-markets actions dated 28 July 2025.
- New issuance: Subsidiary Lazard Group LLC intends to sell one or more tranches of senior unsecured notes from its shelf registration (S-3 No. 333-285808). The notes will be fully and unconditionally guaranteed by Lazard, Inc.
- Tender offer: Lazard Group simultaneously launched a cash tender offer for any and all of its outstanding 3.625% senior notes due 1 Mar 2027. The offer expires 5:00 p.m. ET on 1 Aug 2025, unless extended.
- Financing condition: Completion of the tender is conditional on raising sufficient proceeds from the new note issuance to cover the purchase price and related expenses.
- Estimated accounting impact: If all 2027 notes are repurchased, the company expects a ~$1.2 million gain on debt extinguishment.
No other financial results or guidance were disclosed. The moves represent routine balance-sheet management intended to refinance existing debt and optimize capital structure.