Lazard is a preeminent international financial advisory and asset management firm that has long specialized in crafting solutions to the complex financial and strategic challenges of our clients. We serve a diverse set of clients around the world, including corporations, partnerships, institutions, governments and high-net-worth individuals. We believe that what sets us apart is our dedication to:
competing on the basis of our intellectual (rather than financial) capital, which is personified by our team of highly skilled professionals demanding excellence and superior quality in all that we do, cultivating long-term, senior-level relationships with clients, through deep roots in local markets, linking together our local offices through a global network of industry expertise, remaining focused on our chosen lines of business to provide the highest degree of expertise and continuous innovation, emphasizing our tradition of integrity in all our dealings, and offering independent, trusted and unbiased advice. Founded in New Orleans in 1848, Lazard expanded shortly thereafter to provision the needs of the California gold rush, and eventually evolved its business exclusively into financial services. Having recently united the historical New York, Paris and London �Houses� of Lazard under Lazard Group, we operate today from 27 cities in key business and financial centers across 15 countries in Europe, North America, Asia and Australia.
in short...this company is struggling during the boom and owners were forced to go IPO to sell its stake. $1.3B in debt plus potential banker exodus (think morgan stanley).
yup, quality advice they have on others when they cant even stay in business. sometimes it pays to read beyond their websiste. Preeminent intl financial advisor my a@@!
"On April 11th Lazard filed details of an impending initial public offering (IPO), valuing the bank at up to $2.7 billion�the biggest flotation of an investment bank since Goldman Sachs went public in 1999. "
"Lazard will have some $1.3 billion of debt on its books�unusual for a small investment bank that is heavily reliant on cyclical financial-advisory revenues. True, the bank's asset-management fees are more stable�but these provided just 38% of total revenues last year and the asset-management partners are not part of the flotation scheme."
"By far the biggest worry is whether and how Lazard can retain the dealmakers who are at the heart of its success. Most�but not all�of Lazard's bankers have signed on to the deal. Last year a core of high-earning partners was vehemently opposed to the idea of a flotation, and only a few of them are thought to have changed their minds. While they are no longer actively opposing the IPO, they are not supporting it either, and the flotation prospectus is hazy on details about how Lazard thinks it can hang on to them in future."