Lazard Ltd., the largest independent merger-advisory firm, posted fourth-quarter profit that beat analysts’ estimates as asset-management revenue rose to a record.
Lazard Ltd. Chief Executive Officer Kenneth Jacobs said regulatory changes to the U.S. banking industry were “necessary” and “appropriate” in the wake of the financial crisis.
Lazard Ltd., the largest independent financial-advisory firm, reported a surge in first-quarter profit that beat analysts’ estimates as revenue from advising on mergers doubled.
Lazard Ltd. rose the most since February after reporting a surge in first-quarter profit that beat analysts’ estimates.
Billionaire Nelson Peltz criticized Lazard Ltd.’s pay and cost structure in meetings with senior executives before he disclosed a 5.1 percent stake in the advisory firm this week, said people familiar with the matter.
Lazard Ltd., the biggest independent merger-advisory firm, said second-quarter profit rose 81 percent, beating analysts’ estimates as revenue from asset management and merger advice increased.
Lazard Ltd. climbed to the highest price in about 18 months after reporting profit that beat analysts’ estimates and the most annual merger-advisory revenue in four years.
Lazard Ltd., the largest independent merger adviser, reported a 50 percent decrease in second-quarter profit as asset-management revenue declined.
Kenneth Jacobs, chief executive officer of Lazard Ltd., talks about the global economy, the European debt crisis and banking regulations.
"Persistence in a prolonged period of volatility affects confidence levels."
- Kenneth Jacobs on Oct 23, 2014