A unified firm
In 1977, as the health of Meyer began to deteriorate, the firm came to be controlled by Michel David-Weill. Under his leadership, the three houses of Lazard were formally united in 2000 as Lazard LLC.[9]
In 2002, David-Weill hired Bruce Wasserstein to be CEO. Lazard became a public company in 2005, with nearly two-thirds of its shares owned by current and former employees. Wasserstein became its first chairman and CEO. In connection with the initial public offering (IPO), Lazard spun off its broker-dealer business, Lazard Capital Markets.[7]
Following Wasserstein's death in 2009, Lazard's board of directors elected Kenneth M. Jacobs as chairman and CEO.[10]
During the Greek sovereign debt crisis, Lazard served as advisor to the Greek government, securing "the biggest restructuring deal in history" in 2012. They were hired again by the incoming Syriza party in 2015.[11] The crisis was finally resolved in 2018.[12]
Lazard invested in a startup investment bank, Independence Point Advisors, in late 2021.[13][14]
On May 26, 2023, the firm announced that Peter R. Orszag, CEO of Financial Advisory, had been unanimously elected by its Board to serve as CEO of Lazard and as a Board Director, effective October 1, 2023.[15] Orszag became chief executive officer of Lazard on October 1, 2023.[16] On January 1, 2025, Orszag's role expanded to serve as CEO and Chairman of Lazard's Board of Directors.[17]
The publicly traded partnership Lazard Ltd was reincorporated under the Delaware General Corporation Law effective January 1, 2024 and changed its name from Lazard Ltd to Lazard, Inc.[18]
In 2025, Lazard partnered with alternative credit firm Arini Capital Management to collaborate on sourcing and direct lending opportunities across Europe, the Middle East, and Africa.[19]
