Lazard, Inc.

Lazard is a multinational financial advisory and asset management firm, founded in 1848. Its core mission is to deliver sophisticated and differentiated advice and investment solutions to its diverse client base. The firm's global headquarters are located in New York City, U.S., with other principal executive offices in Paris and London.

Lazard provides a comprehensive range of services primarily to institutional clients, corporations, governments, partnerships, family offices, and high-net-worth individuals. These services encompass financial advisory, including mergers and acquisitions, strategic matters, restructuring, capital structure, capital raising, and corporate finance. Additionally, the firm offers asset management services, covering investment management, listed equity and fixed income investments, and alternative investment funds.

Recognized as the world's largest independent investment bank, Lazard is led by Peter R. Orszag, who serves as CEO and Chairman, a role he fully assumed on January 1, 2025. A notable recent strategic move is the firm's acquisition of Campbell Lutyens, announced on April 30, 2026. This acquisition will establish "Lazard CL," a new private capital advisory unit, aligning with Lazard's "Lazard 2030" strategy to expand its private markets advisory presence and diversify its revenue streams. Furthermore, effective January 1, 2024, Lazard completed its conversion from a publicly traded partnership to a U.S. C-Corporation, changing its legal name to Lazard, Inc.

Latest updates

Lazard Acquires Campbell Lutyens, Boosts Asset Management Revenue

Event summary

  • Lazard agreed to acquire Campbell Lutyens, a global advisory firm, expecting $500 million in combined 2027 revenue.
  • Lazard's Financial Advisory division exceeded its 2030 growth goal by adding 28 Managing Directors in 2025.
  • Asset Management revenue increased 17% year-over-year, driven by $9 billion in positive flows.
  • First-quarter 2026 net revenue reached $757 million, a 17% increase compared to the prior year.

The big picture

Lazard's acquisition of Campbell Lutyens signals a strategic shift towards expanding its advisory services, particularly in the primary and secondary markets. This move aims to bolster Lazard's resilience and growth prospects amid ongoing market uncertainty. While Asset Management has shown strong performance, the firm's overall success will depend on its ability to navigate a complex M&A environment and manage compensation costs effectively.

What we're watching

Integration Risk
The success of the Campbell Lutyens acquisition hinges on seamless integration, and any operational clashes could hinder the anticipated revenue synergies.
M&A Outlook
Given the volatility in global markets, whether Lazard can sustain the momentum from recent deal highlights remains to be seen.
Compensation Control
Lazard's stated goal of a 60% adjusted compensation ratio may prove challenging given the competitive talent landscape and the firm's growth ambitions.
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