Lazards combines global houses
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE INVESTMENT banking group, Lazard Freres, said yesterday that it is to combine its operations in London, Paris and New York in order to compete more effectively for global business. The change will take place over the next six to nine months.
The 150-year-old firm, controlled by the family of French financier Michel David-Weill, is currently made up of three Lazard houses, each with a different ownership structure. After the change a seven-member management committee led by Mr David-Weill, 66, will govern the firm. Lazards employs 2,500 worldwide, 1,100 of them in New York. It made record profits of $300m (pounds 186m) last year.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments