Lazard

Office address: 30 Rockefeller Plaza, New York, NY 10112
Website: lazard.com
Year established: 1848
Company type: financial services
Employees: 3,300+
Expertise: asset management, private wealth management, mergers and acquisitions, strategic advisory, capital markets advisory, restructuring, liability management, sovereign advisory, capital solutions, private capital advisory
Parent company: N/A
Key people: Peter Orszag (CEO), Chris Hogbin (CEO of Lazard Asset Management), Raymond McGuire (president), Alexandra Soto (COO), Mary Ann Betsch (CFO), Chris Weideman (general counsel)
Financing status: corporation

Lazard is a New York-based financial advisory and asset management firm that advises on M&A and restructuring. The company is the world's largest independent investment bank and trades on the NYSE under the ticker LAZ. It manages $265 billion in assets as of Q3 2025 and has more than 3,300 employees across 26 countries.

History of Lazard

The company traces its origins to 1848 when three French brothers, Alexandre, Lazare, and Simon Lazard, founded Lazard Frères & Co. as a dry goods store in New Orleans. The California Gold Rush soon lured the family westward.

By 1851, Simon and younger brothers Elie and Maurice had set up shop in San Francisco to sell supplies to miners. French customers then asked for help sending gold back home, and this sparked a pivot into banking.

From gold shipments to global banking

The firm left retail behind and became a chartered bank by 1876. A London office was also opened in 1870 under Alexandre to keep business running during the Franco-Prussian War. It then expanded to New York in 1880 to build a presence on Wall Street. For the next century, three separate "Houses of Lazard" operated independently in New York, Paris, and London.

A modern era takes shape

The houses reunited as a single firm in 2000 after more than 150 years apart. Then-CEO Bruce Wasserstein took it public in 2005, ending 157 years of private ownership. The company helped resolve the Lehman Brothers bankruptcy during the 2008 financial crisis.

The firm hit record annual revenue of more than $3 billion in 2021. Peter Orszag took over as CEO in 2023 as it marked its 175th anniversary.

Strengthening asset management

The firm's investment subsidiary, Lazard Asset Management, has become a core driver of the company's growth. It also hired Christopher Hogbin as the new CEO of the division in 2025 to accelerate its long-term strategy. Orszag called the move an inflection point for the business as it positions itself to meet changing client needs.

Lazard products and services

The company leverages its global network to provide expert advice and custom investment solutions for corporations, governments, and individuals:

Financial advisory

• M&A and strategic advisory: advice on mergers and acquisitions
• capital markets advisory: helps companies raise capital efficiently
• restructuring and liability management: guides clients through financial reorganization
• specialized advisory: expert advice for shareholders and governments

Asset management

• Lazard Asset Management: investment portfolios for institutions
• Lazard Frères Gestion: wealth management services in France
• Edgewater Funds: private equity for middle-market firms
• Lazard Private Wealth Management: custom wealth planning for individuals
• equity strategies: invests in global and regional stocks
• fixed income: manages taxable and tax-exempt bonds
• alternative investments: strategies like private credit and infrastructure

Operating as an investment bank, the firm blends local market expertise with global resources to deliver long-term value. It also provides sustainable investment options and unique insights into geopolitical and economic trends.

Culture and corporate values

Lazard states that integrity and professionalism guide its culture. The company encourages leadership and personal growth within a diverse workplace environment. The firm outlines three core principles that uphold this culture:

• excellence
• empowerment
• engagement

The firm also states that great ideas come from great people. That is why it reportedly invests in curiosity and wisdom. The company offers these benefits:

• financial support: retirement plans with matching contributions and life insurance
• family care: paid parental leave, adoption reimbursement, and fertility support
• health and wellness: medical plans, wellness reimbursements, and gym discounts
• personal growth: free college coaching and confidential counseling services
• office perks: fruit deliveries and on-site flu shot clinics
• additional support: legal plans, pet insurance, and student loan refinancing

The company supports an inclusive culture through data-driven strategies as well, believing that diverse perspectives result in better decisions. Employees have formed groups to build awareness and share knowledge. Since 2020, staff have founded seven new employee resource groups.

About CEO Peter Orszag and key people

Peter Orszag serves as CEO and chair of Lazard. He also previously headed the company's financial advisory practice and directed the Office of Management and Budget under President Obama. Orszag holds a PhD in economics from the London School of Economics.

Other senior leaders work alongside Orszag to guide the firm:

• Chris Hogbin works as CEO of Lazard Asset Management, driving growth in the global investment business
• Raymond J. McGuire serves as president of Lazard and leads financial advisory in North America
• Alexandra Soto is the COO, responsible for global operations and human capital
• Mary Ann Betsch acts as CFO, overseeing all global finance and audit functions
• Chris Weideman serves as general counsel, managing legal and compliance matters worldwide

These leaders combine deep local knowledge with a broad global perspective. Their collective experience helps the firm serve clients with multinational resources while maintaining personal relationships.

The future at Lazard

The company continues to provide important advice for investors as they navigate uncertain economic policies. Lazard's chief market strategist, Ronald Temple, recently outlined ways to protect portfolios from rising tariffs.

Temple warns that new trade rules could increase inflation and keep interest rates high. He suggests that investors should focus on short-term bonds and avoid sectors like retail that rely heavily on imports. This guidance reinforces the firm's role as a trusted partner in volatile markets.

Lazard Asset Management hired Keith Wosneski as managing director and head of consultant relations. The move aims to improve global ties with consultants and allocators. The firm believes this appointment will build momentum as Wosneski aligns investment capabilities with client goals to drive growth.

The latest Lazard news