LAZ Nov 2019 41.000 call

OPR - OPR Delayed Price. Currency in USD
0.0100
0.0000 (0.00%)
As of 12:41PM EDT. Market open.
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Previous Close0.0100
Open0.0100
Bid0.0000
Ask0.3500
Strike41.00
Expire Date2019-11-15
Day's Range0.0100 - 0.0100
Contract RangeN/A
Volume6
Open Interest10
  • Business Wire

    Lazard Reports October 2019 Assets Under Management

    Lazard Ltd reported today that its preliminary assets under management as of October 31, 2019 totaled approximately $235.8 billion. The month’s AUM included market appreciation of $2.9 billion; foreign exchange appreciation of $2.6 billion and net outflows of $0.5 billion.

  • Thomson Reuters StreetEvents

    Edited Transcript of LAZ earnings conference call or presentation 31-Oct-19 12:00pm GMT

    Q3 2019 Lazard Ltd Earnings Call

  • Lazard (LAZ) Q3 Earnings & Revenues Fall Y/Y, Stock Down 2.9%
    Zacks

    Lazard (LAZ) Q3 Earnings & Revenues Fall Y/Y, Stock Down 2.9%

    Lazard's (LAZ) Q3 results reflect fall in revenues and assets under management (AUM) balance, as well as adverse impact of elevated expenses.

  • Lazard lays off 200 on heels of earnings report
    American City Business Journals

    Lazard lays off 200 on heels of earnings report

    Investment bank Lazard has laid off about 200 employees, Chief Financial Officer Evan Russo confirmed. The news comes as the Bermuda-based company, which has its U.S. headquarters at 30 Rockefeller Plaza in Manhattan, "conducted a review of its business," Russo said Thursday on a call with investors. “The employee reductions involve approximately 200 people across financial advisory, asset management and corporate functions," he said (h/t Reuters).

  • Lazard to Close Offices, Cut Jobs in Business Realignment
    Bloomberg

    Lazard to Close Offices, Cut Jobs in Business Realignment

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Lazard Ltd., whose merger-advisory business is ranked at the lowest level in more than a decade, is closing a few offices and cutting jobs as Chief Executive Officer Ken Jacobs focuses on a “realignment.”“There have been some changes in the macro environment globally, which leads us to believe there’s a better use of resources in other parts of the firm,” Jacobs said Thursday in an interview after the company released third-quarter results. “It’s more matching costs with revenue where the opportunity exists.”Offices in Lima, Mumbai and Perth, Australia, will close, a spokeswoman said. Lazard is also planning to exit some asset management strategies that could account for about $300 million of funds, Chief Financial Officer Evan Russo said on a conference call with analysts. A total of about 200 jobs will be affected across different businesses, but headcount is expected to be little changed as the firm continues to hire, Russo said.The company has been scrutinizing businesses and targeting underperforming units, the executives said. The asset management unit generates about half the firm’s revenue, and about 7% of that workforce will be eliminated, a person familiar with the matter said earlier this month. That would account for about 60 people, meaning other cuts would come in investment banking.Recent high-profile departures include Matthieu Pigasse, the deputy CEO of financial advisory, and Gary Howe, a leader of Lazard’s financial-institutions practice. Lazard is “greater than any one person,” Jacobs said in response to a question about the exits on the analysts’ call.Jacobs called the environment for mergers and acquisitions “OK,” and said CEO confidence has been mixed among executives seeking large-scale deals. Activity in Europe has been rebounding after months of uncertainty, he said. Still, the firm is ranked No. 12 among merger advisers globally this year, while it’s typically in the top 10, according to data compiled by Bloomberg.(Updates with office locations in third paragraph.)To contact the reporter on this story: Sonali Basak in New York at sbasak7@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Lazard axes 200 jobs after business review

    Investment bank Lazard has axed about 200 employees after a review of its business, Chief Financial Officer Evan Russo said on Thursday. "In the third quarter we conducted a review of our business that resulted in a realignment, including employee reductions and the closing of sub-scale offices and investment strategies," Russo said on a call with investors after the bank's third-quarter.

  • Reuters

    UPDATE 3-Lazard axes 200 jobs as profit falls amid dealmaking slowdown

    Lazard Ltd said on Thursday it had axed about 200 employees after a review of its business, as the investment bank reported a 21% drop in third-quarter adjusted net income amid a slowdown in worldwide deal activity. Lazard's business is split between financial advisory and asset management services. Lazard posted net income of $88 million.

  • Lazard axes 200 jobs as profit falls amid dealmaking slowdown
    Reuters

    Lazard axes 200 jobs as profit falls amid dealmaking slowdown

    Lazard Ltd said on Thursday it had axed about 200 employees after a review of its business, as the investment bank reported a 21% drop in third-quarter adjusted net income amid a slowdown in worldwide deal activity. Lazard's business is split between financial advisory and asset management services. Lazard posted net income of $88 million.

  • Business Wire

    Lazard Ltd Reports Third-Quarter and Nine-Month 2019 Results

    $588 million in third-quarter operating revenue

  • ACCESSWIRE

    Lazard Ltd. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / October 31, 2019 / Lazard Ltd. (NYSE: LAZ ) will be discussing their earnings results in their 2019 Third Quarter Earnings to be held on October 31, 2019 at 8:00 AM Eastern ...

  • Business Wire

    Lazard Declares Quarterly Dividend of $0.47 Per Share

    Lazard Ltd today announced that its Board of Directors has voted to declare a quarterly dividend of $0.47 per share on its outstanding common stock. The dividend is payable on November 22, 2019, to stockholders of record on November 11, 2019.

  • Lazard appoints Girodolle CEO of Lazard France
    Reuters

    Lazard appoints Girodolle CEO of Lazard France

    Lazard said on Sunday it had appointed Jean-Louis Girodolle as CEO of Lazard Investment Banking in France, just a week after its chairman and CEO Matthieu Pigasse resigned. The firm has come under increasing pressure from U.S. boutique banks including Evercore and Centerview which are looking to open offices in Paris and have poached some of Lazard's dealmakers including Nicolas Constant. Girodolle joined Lazard in 2007 and he primarily advises companies on M&A and financial transactions.

  • Business Wire

    Lazard Appoints Jean-Louis Girodolle Chief Executive Officer of Investment Banking in France

    Lazard Ltd today announced that, effective immediately, it has named Jean-Louis Girodolle as Chief Executive Officer of Lazard Investment Banking in France. Also appointed are Charles-Henri Filippi and François Kayat as Co-Chairs of Investment Banking in France.

  • Lazard Ltd (LAZ): Hedge Funds In Wait-and-See Mode
    Insider Monkey

    Lazard Ltd (LAZ): Hedge Funds In Wait-and-See Mode

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]

  • Why Lazard Ltd (NYSE:LAZ) Could Be Worth Watching
    Simply Wall St.

    Why Lazard Ltd (NYSE:LAZ) Could Be Worth Watching

    Lazard Ltd (NYSE:LAZ), which is in the capital markets business, and is based in Bermuda, saw a double-digit share...

  • T. Rowe Price (TROW) Q3 Earnings Top Estimates, AUM Escalates
    Zacks

    T. Rowe Price (TROW) Q3 Earnings Top Estimates, AUM Escalates

    T. Rowe Price's (TROW) Q3 results reflect higher assets under management (AUM) and revenues, partly offset by elevated expenses.

  • Bloomberg

    Paris Has Room For Only One Banker-President

    (Bloomberg Opinion) -- Matthieu Pigasse was the face of Lazard Ltd. in Paris – you couldn’t think of one without the other. In hindsight, maybe that was the problem. After a career spent mixing his day job in finance with very public media investments and political aspirations, the glare of the spotlight was starting to burn. And with younger rival Emmanuel Macron carrying off the ultimate prize of the French presidency, there’s a good chance the clubby world of the Parisian elite had room for only one banker-politician.On the face of it, this is Pigasse’s decision: He’s striking an upbeat note as he leaves Lazard after more than 15 years, telling staff he wants to pursue a new challenge. But this story feels like more than a big-name advisor deciding that he’s worth more on his own, or that it might be fun to take an entrepreneurial risk. Media reports have pointed to in-fighting between Pigasse and Peter Orszag(1), who recently joined as overall head of advisory after his own glitzy career in politics and banking. With rival boutiques smelling blood and poaching Lazard advisors, some kind of showdown became inevitable.That Pigasse is the one leaving says much about where his star is currently placed in the firmament of the French elite. Around seven years ago, he was at the peak of his powers as a key mover in left-wing circles under Socialist President Francois Hollande and a media mogul with a stake in newspaper Le Monde, all while Lazard held the No. 1 spot in the Bloomberg league tables for French deal-making. Things have changed since then: Emmanuel Macron has blown up the French Left, Le Monde is struggling and last year Lazard was No. 3 in France, behind key rival Rothschild & Co.While it would be wrong to conclude the 51-year-old Pigasse had become detrimental to Lazard’s business – this is still a storied brand with a Top-10 market share in European mergers – the media influence he sought had clearly become more liability than asset. The news earlier this year that Pigasse had sold just under half his stake in Le Monde to Czech billionaire Daniel Kretinsky, as well as reports (denied by Pigasse) that the whole stake was up for sale, raised internal hackles at the newspaper and led to critical coverage of his media investments.The fact that his media-mogul aspirations seemed so tied to his political ambitions probably didn’t help, given the change in political winds in France. Pigasse has been compared to Macron for years: Both hail from the same civil-service academy, both have similar political leanings and both used finance as a route into the establishment. That’s where the similarities end, though. Former Rothschild banker Macron succeeded where Pigasse failed, eclipsing him within the Socialist corridors of power and even beating him at what was most likely his own discreet goal of reaching the Elysee Palace one day.There may have been some spillover effects inside Lazard. Pigasse became the face of the enterprise, and maybe that stopped him cultivating a broad entourage of top bankers who might claim his place. Maybe that also made him hard to control from New York, where Chief Executive Officer Kenneth Jacobs eyed a more centralized structure. Pigasse clearly didn’t fit under Lazard’s roof anymore; but especially so in a town where there’s room for only one banker-president.(1) Orszag is also a Bloomberg Opinion columnist.To contact the author of this story: Lionel Laurent at llaurent2@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Business Wire

    Lazard Announces Matthieu Pigasse Resignation

    Lazard Ltd (LAZ) today announced that Matthieu Pigasse, Deputy CEO of Financial Advisory and Chairman and CEO of Lazard France, has resigned from Lazard. Lazard will announce a new leadership team in France shortly. “Lazard has been my home for nearly two decades.

  • Business Wire

    Lazard Global Total Return and Income Fund Declares Monthly Distribution

    The Board of Directors of Lazard Global Total Return and Income Fund, Inc. has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.08879 per share on the Fund’s outstanding common stock.

  • Business Wire

    Lazard World Dividend & Income Fund Declares Monthly Distribution

    The Board of Directors of Lazard World Dividend & Income Fund, Inc. has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.05799 per share on the Fund’s outstanding common stock.