Lazard Taps Goldman Vet Elsesser to Fuel Its 'Lazard 2030' Growth Engine

NEW YORK, NY – July 07, 2026 – In a move that signals a clear and aggressive push towards its long-term strategic goals, financial advisory giant Lazard announced today it has appointed Kathy Elsesser to its Board of Directors. The appointment is more than a routine changing of the guard; it is a calculated chess move, placing a seasoned expert with deep sector knowledge at the heart of the firm’s governance as it executes its ambitious 'Lazard 2030' strategy.

Ms. Elsesser, a retired Partner from Goldman Sachs and a current board member at TPG, steps in for Andrew M. Alper, who retires after more than 13 years of service. While corporate board appointments are common, this one carries particular weight. It underscores a deliberate effort by Lazard CEO Peter R. Orszag to infuse the firm with the precise expertise needed to accelerate growth in its powerhouse Financial Advisory division and hit the audacious targets set forth in its strategic vision.

A Strategic Appointment for an Ambitious Future

The context for Elsesser's appointment is the 'Lazard 2030 Strategy,' a comprehensive plan designed to fundamentally reshape the firm's trajectory. The goals are anything but modest: double firmwide revenue from 2023 levels by the end of the decade and deliver an average annual shareholder return between 10 and 15 percent. This isn't just about incremental gains; it's about transformative growth.

Central to this vision is the firm’s Financial Advisory business. Lazard is looking to not only increase its market share but also significantly boost the productivity of its senior bankers, with a stated target of raising revenue per Managing Director to $12.5 million by 2030—a substantial leap from the $8.9 million achieved in 2025. To get there, the firm is focusing on high-growth sectors, including technology, healthcare, and consumer retail. This is precisely where Elsesser’s resume becomes so compelling.

As the former Global Chair of the Consumer Retail and Healthcare Groups at Goldman Sachs, she spent decades advising the world's leading companies in these exact fields. Her appointment is a direct injection of top-tier, relevant experience into the boardroom.