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Encyclopedia > Lazard Freres
Lazard
Type Public (NYSE: LAZ)
Founded 1848
Headquarters New York
Key people Bruce Wasserstein, Chairman & CEO
Industry Investment services
Products Financial Services
Investment Banking
Investment management
Revenue $1.39 billionUSD (2006)
Net income $80 million USD (2006)
Employees 2,200 (2006)
Website www.lazard.com

Lazard Ltd. (NYSE: LAZ) is the parent company of Lazard LLC, a New York-based, independent investment bank with approximately 2,200 employees in Europe, North America, Asia and Australia. Lazard was founded in 1848, and remained privately held until May 5, 2005, when the company conducted an initial public offering of its shares. In connection with its IPO, Lazard spun off its securities underwriting business, Lazard Capital Markets, which is now an independent firm. Image File history File linksMetadata No higher resolution available. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... Year 1848 (MDCCCXLVIII) was a leap year starting on Saturday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Monday of the 12-day slower Julian calendar). ... NY redirects here. ... This article needs to be cleaned up to conform to a higher standard of quality. ... Invest redirects here. ... Financial services is a term used to refer to the services provided by the finance industry. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Investment management is the professional management of various securities (shares, bonds etc) and other assets (e. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links No higher resolution available. ... The United States dollar is the official currency of the United States. ... For the Manfred Mann album, see 2006 (album). ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... A website (alternatively, Web site) is a collection of Web pages, images, videos and other digital assets that is hosted on a Web server, usually accessible via the Internet or a LAN. A Web page is a document, typically written in HTML, that is almost always accessible via HTTP, a... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... NY redirects here. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Year 1848 (MDCCCXLVIII) was a leap year starting on Saturday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Monday of the 12-day slower Julian calendar). ... May 5 is the 125th day of the year in the Gregorian calendar (126th in leap years). ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... An initial public offering (IPO) is the first sale of a corporations common shares to public investors. ... New York based investment bank founded in 2005 in a spin-off from parent Lazard. ...


Today, the investment banking arm participates in significant mergers & acquisitions transactions and was named by Businessweek as the "Granddaddy of M&A".[1]

Contents

History

Lazard's origins date back to 1848 when the founders, the Lazard brothers, Alexandre Lazard, Simon Lazard, and Elie Lazard, moved to the United States from Lorraine, France, and formed Lazard Frères & Co. as a dry goods business in New Orleans, Louisiana, with a combined contribution of $ 9,000. Shortly thereafter, the Lazard brothers moved to the gold rush town of San Francisco, California, where they opened a business selling imported goods and exporting gold bullion. The business progressively became involved in financial transactions, first with its retail clients and then increasingly with commercial clients. Over time, the business expanded into the banking and foreign exchange businesses. (Région flag) (Region logo) Location Administration Capital Metz Regional President Jean-Pierre Masseret (PS) (since 2004) Departments Meurthe-et-Moselle Meuse Moselle Vosges Arrondissements 19 Cantons 157 Communes 2,337 Statistics Land area1 23,547 km² Population (Ranked 11th)  - January 1, 2006 est. ... ... Nickname: Location in the State of Louisiana and the United States Coordinates: Country United States State Louisiana Parish Orleans Founded 1718 Government  - Mayor Ray Nagin (D) Area  - City  350. ... Nickname: Location of the City and County of San Francisco, California Coordinates: Country United States of America State California City-County San Francisco Government  - Mayor Gavin Newsom Area  - City  47 sq mi (122 km²)  - Land  46. ...


Seeking to expand operations to Europe, the Lazard brothers opened offices in Paris and London in 1858 and 1870, respectively. By 1876, Lazard’s businesses had become solely focused on providing financial services. In 1880, Alexander Weill, the founding brothers’ cousin, assumed control of Lazard. 1858 (MDCCCLVIII) is a common year starting on Friday of the Gregorian calendar (or a common year starting on Sunday of the 12-day-slower Julian calendar). ... 1870 (MDCCCLXX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... 1876 (MDCCCLXXVI) was a leap year starting on Saturday. ... Financial services is a term used to refer to the services provided by the finance industry. ...


The period between the two wars saw Lazard ensuring a supremacy in the banking world under the direction of Raymond Philippe, followed by André Meyer André Meyer (September 3, 1898 – September 9, 1979) was a French-born Wall Street investment banker. ...


Post World War II saw the American operations expand significantly as a merger and acquisitions specialist under the leadership of André Meyer and Felix Rohatyn. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... André Meyer (September 3, 1898 – September 9, 1979) was a French-born Wall Street investment banker. ... Felix G. Rohatyn (born May 29, 1928 in Vienna, Austria) is a Jewish-American businessman and investment banker and has also served in public service. ...


Lazard has advised on several large and significant transactions, including cross-border and consortia assignments:
$17 billion transaction - Supervalu on its acquisition of Albertson's (2006)
$14 billion transaction - Duke Energy on its acquisition of Cinergy (2006)
$10 billion transaction - MCI on its sale to Verizon Communications (2006)
$47 billion transaction - Nextel on its merger with Sprint Corp (2005)
$59 billion transaction - Bank One on its sale to JPMorgan (2004)
$56 billion Euro transaction - Telecom Italia on its merger with Olivetti SPA (2003)
$61 billion transaction - Pfizer on its acquisition of Pharmacia (2003)
$72 billion transaction - Microsoft in the merger of Comcast and AT&T Broadband (2002)
$90 billion transaction - Pfizer on its acquisition of Warner Lambert (2000)
$29.4 billion transaction - RJR Nabisco on its sale to KKR
SuperValu is an Irish supermarket chain owned by the Musgraves wholesaler firm. ... A typical Albertsons store. ... Corporate Headquarters in Charlotte, North Carolina Duke Energy NYSE: DUK, headquartered in Charlotte, North Carolina, is an energy company with assets in the United States (primarily North and South Carolina), Canada and Latin America. ... Cinergy Corp. ... MCI logo MCI, Inc. ... Verizon redirects here: this article is about the corporation; see also Verizon Wireless, Verizon Online DSL and Verizon FiOS. Verizon Communications, Inc. ... Sprint Nextel Corporation (NYSE: S), headquartered in Reston, Virginia, is one of the largest telecommunications companies in the United States. ... Sprint Nextel Corporation (NYSE: S) is one of the largest telecommunications companies in the world. ... Bank One, based in Chicago, Illinois, was the sixth-largest bank in the United States. ... J.P. Morgan Chase & Co. ... This article or section does not cite any references or sources. ... Pfizer, Incorporated (NYSE: PFE) (pronounced faɪzəɹ or faɪzÉ™), is the worlds largest pharmaceutical company. ... Pharmacia was originally a government owned Swedish pharmaceutical company. ... Microsoft Corporation, (NASDAQ: MSFT, HKSE: 4338) is a multinational computer technology corporation with global annual revenue of US$44. ... This article or section does not cite any references or sources. ... AT&T Broadband was the name of AT&Ts cable operations, which comprised of the assets of TCI and MediaOne. ... Pfizer, Incorporated (NYSE: PFE) (pronounced faɪzəɹ or faɪzÉ™), is the worlds largest pharmaceutical company. ... Pfizer, Incorporated (NYSE: PFE), is a global pharmaceutical company based in New York City. ... RJR Nabisco, Inc. ... Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City based private equity firm that focuses primarily on late stage leveraged buyouts. ...


In 2005, Lazard advised on five of the nine "Deals of the Year" as cited by IDD:
M&A Deal of the Year - $38 billion - Mitsubishi Tokyo Financial Group on its merger with UFJ
Overall Deal of the Year, Private Equity Deal of the Year - $11.3 billion - SunGard on its sale to consortium
Technology Deal of the Year - $10 billion - MCI on its sale to Verizon
Energy Deal of the Year - $14 billion - Duke Energy on its acquisition of Cinergy
Healthcare Deal of the Year - $525 million - GILEAD in its Royalty Agreement with Emory University
MTFG Plaza is an office building of the Mitsubishi Tokyo Financial Group. ... UFJ can refer to: UFJ Holdings, Inc. ... SunGard provides financial services and information availability services to businesses. ... This article or section should include material from Bell Atlantic This article or section should include material from GTE Verizon Communications (NYSE: VZ) is a local exchange telephone company formed by the merger of Bell Atlantic, a former Bell Operating Company, and GTE, which was the largest independant local exchange... Corporate Headquarters in Charlotte, North Carolina Duke Energy NYSE: DUK, headquartered in Charlotte, North Carolina, is an energy company with assets in the United States (primarily North and South Carolina), Canada and Latin America. ... Cinergy Corp. ... Emory University is a private university located in suburban Atlanta, Georgia. ...


In May 2005, Lazard went public under the leadership of Bruce Wasserstein, ending over 150 years of private owership. This article needs to be cleaned up to conform to a higher standard of quality. ...


Management

Past Chairmen:

  • Alexandre Lazard, Elie Lazard and Simon Lazard (founders)
  • Alexandre Weill
  • David David-Weill
  • Pierre David-Weill
  • Michel David-Weill

Current Executives: Pierre David-Weill (March 8, 1900 - January 14, 1975) was a French investment banker. ... Michel David-Weill (born November 23, 1932 in Paris, France) is a Jewish investment banker and former Chairman of New York City based Lazard Frères. ...

Board of Directors This article needs to be cleaned up to conform to a higher standard of quality. ... A Chief Executive Officer (CEO), or Chief Executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency. ... The Chief Financial Officer (CFO) of a company or public agency is the corporate officer primarily responsible for managing the financial risks of the business or agency. ... A General Counsel is the chief lawyer of a legal department, usually in a corporation or government department. ... In relation to a company, a director is an officer (that is, someone who works for the company) charged with the conduct and management of its affairs. ...

Ellis B. Jones is the Chief Executive Officer of Wasserstein & Co. ... ... This article needs to be cleaned up to conform to a higher standard of quality. ...

Notable employees

Business

Marcus Ambrose Paul Agius (born 22 July 1946) is a British financier and businessman, currently Chairman of Barclays. ... Timothy C. Collins (*October 8, 1956) is the founder, senior managing director, and chief executive officer of Ripplewood Holdings. ... Ripplewood is an American private equity firm that manages more than $10 billion in capital. ... Jean-Marie Messier (born December 13, 1957) is a French businessman known for his flamboyance. ... Vivendi SA (formerly known as Vivendi Universal) is a French media conglomerate with activities in music, television and film, publishing, telecommunications, the Internet as well as video games. ... Steven Steve Rattner is an American venture capitalist. ... Disque Deane is a prominent American financier and investor. ... Starrett City Associates is a group of investors, led by Disque Deane, that built and owned the Starrett City housing complex in Brooklyn, New York. ...

Politics and public service

Robert Henry Brand, 1st Baron Brand (October 30, 1878 – August 23, 1963) was a British civil servant, businessman, and Fellow of All Souls College, Oxford. ... Milners Kindergarten is an informal reference to a group of Britons who served in the South African Civil Service under High Commissioner Alfred, Lord Milner, between the Second Boer War and the founding of the Union of South Africa. ... Robert Molesworth Kindersley, 1st Baron Kindersley GBE (November 21, 1871 - July 20, 1954) was a British businessman, banker and public servant. ... Felix G. Rohatyn (born May 29, 1928 in Vienna, Austria) is a Jewish-American businessman and investment banker and has also served in public service. ...

External links

  • Lazard Homepage

Data

  • Yahoo! - Lazard LLC Company Profile

Articles

  • Lazard Files for $850 Million IPO

Books

  • The Last Tycoons: The Secret History of Lazard Frères & Co. by William D. Cohan, ISBN 0385514514

  Results from FactBites:
 
Lazard at AllExperts (416 words)
Lazard Ltd. is the parent company of Lazard LLC, a New York-based, independent investment bank with more than 2,500 employees in Asia, North America, and Europe.
Lazard was founded in 1848, and remained privately held until May 5, 2005, when the company conducted an initial public offering of its shares.
Lazard's origins date back to 1848 when the founders, the Lazard brothers, Alexandre Lazard, Simon Lazard, and Elie Lazard, moved to the United States from France, and formed Lazard Frères & Co. as a dry goods business in New Orleans, Louisiana, with a combined contribution of $ 9,000.
To Gain Edge, 3 Lazard Banks To Integrate In Global Unit (679 words)
Lazard Partners announced Monday that it would bow to the forces of globalization and unify its London, Paris and New York investment banks into a single partnership to compete better with the likes of Goldman Sachs Group Inc. and Morgan Stanley Dean Witter and Co.
Lazard has remained remarkably successful for its size, a testament to the skill of its bankers and the richness of its corporate contacts.
Lazard increased the sharing of profits among its three banks in 1996 in an attempt to strengthen integration, and it 1997 it merged its New York, London and Tokyo asset-management businesses.
  More results at FactBites »

 
 

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