Lazard and Evercore do more with less in M&A boom

July 23, 2015

Second-quarter results show the two independent advisers have not reaped as much benefit as bulge-bracket rivals from the recent dealmaking surge. But their simpler business models and higher margins leave more of the gains for shareholders – especially owners of Lazard.

Lazard investors getting two for the price of one

April 27, 2012

The firm’s Q1 results confirm asset management is its quiet powerhouse. Yet investors give Lazard virtually no credit for it - or else negatively assess the high-profile M&A advice business. A sum-of-the-parts analysis suggests Lazard is worth twice its $3.5 bln market value.

Lazard advises Wall Street on how to take the pain

October 25, 2012

Christmas came early for activist Nelson Peltz, if not some of Lazard’s employees. The firm will slice $125 mln in expenses by year-end. Though Lazard still pays out more to staff than rivals, the move is consistent with CEO Ken Jacobs’ goal to boost returns for shareholders.

Rohatyn’s values a distant prospect on Wall Street

October 29, 2010

Felix Rohatyn's memoir pines for an ethic on Wall Street that has long passed.

Activist bet on Evercore would have beaten Lazard

October 24, 2013

Nelson Peltz’s punt on Lazard is paying off nicely, with the stock up 50 pct since CEO Ken Jacobs set stringent financial targets 18 months ago. The firm’s latest figures show he’s on track. But Peltz would have doubled his money owning smaller advisory outfit Evercore instead.

Wasserstein scare for Lazard investors

October 12, 2009

Bruce Wasserstein is more than a corporate figurehead: apart from being Lazard's chairman and chief executive, he is also its largest shareholder and chief rainmaker. That is why his hospitalisation with an irregular heartbeat should give investors cause for concern.