Lazard
Lazard, founded in 1848, is a global financial advisory and asset management firm with a presence across multiple continents, managing approximately $247 billion in assets as of early 2024.
Company Founding and History
Lazard was founded in 1848, establishing itself as a distinguished global financial advisory and asset management firm over the years. Celebrating its 175th anniversary in 2023, Lazard has grown to provide a wide range of services to a diverse client base. The firm marks a significant evolution in its corporate structure by converting to a U.S. C-Corporation effective January 1, 2024.
Financial Advisory Services
Lazard offers comprehensive financial advisory services to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. These services include specialized advisory work for sovereigns and governments, insight into geopolitical risks, and the advanced research capabilities of the Lazard Climate Center. The firm's tailored advisory offerings are designed to meet the distinct needs of each client segment.
Global Presence
Lazard maintains a significant global footprint, with operations spanning North and South America, Europe, the Middle East, Asia, and Australia. This extensive presence enables the firm to deliver localized expertise and support to clients in various regions, thereby strengthening its international financial advisory and asset management capabilities.
Asset Management
As of the start of 2024, Lazard manages approximately $247 billion in assets. The firm provides sophisticated asset management and investment solutions to its diverse client base, ensuring effective portfolio management and strategic investment decisions. Lazard's asset management services are designed to optimize financial outcomes for institutions, corporations, and high net worth individuals.
Future Business Goals
Lazard has set ambitious goals for growth and financial performance. The firm aims to double its firmwide revenue by 2030 and deliver an average annual shareholder return of between 10 and 15 percent. Additionally, Lazard plans to return to compensation and non-compensation ranges that are more aligned with historical results as revenues stabilize in a normalized business environment.