Tag:
Lazard
Latest Headlines
Latest Headlines
Departures at Greenhill spark questions about the future
So which boutique is the trendiest right now? Not too long ago, you might have been inclined to say Greenhill & Co. But these days, people are more likely to give Evercore Partners the nod.
Greenhill, which reports earnings Monday, may be at something of a crossroads. Bloomberg reports
Lazard results bode well for deal economy
The less than stellar results at Greenhill & Co. led to some talk about the fate of deal advisory boutiques at a time when the big boys of the industry were laser-focused on what appears to be a favorable deal environment.
But Lazard just released solid fourth quarter results, featuring a
Bank of America, JPMorgan to benefit from GM IPO
Sometimes, you have to win a big deal just for the sake of winning a big deal--to prove to the world that you're the go-to guy, the top dog. When it comes to IPOs ( IPO news) we've seen it before with the Google IPO. Recall that frenzied bake-off, which featured the disqualification of Goldman
Bruce Wasserstein passes away
A modern Wall Street icon has left us. Bruce Wasserstein, 61, had been hospitalized for an irregular heartbeat, but his firm Lazard did not offer an indication that the condition was serious. So it was a shock when it was announced that he had passed. Wasserstein was truly an era-defining investme
Big winners in M&A shakeout
Mergers and acquisitions are far from dead. Investment bankers, the ones that are still employed anyway, have plenty to do. In fact, we're seeing some interesting market-share dynamics at work. Bloomberg notes that Pfizer's purchase of Wyeth was a big win for Goldman Sachs and JPMorgan (both a
Boutique buzz may be over already
Just about a month or two ago, people were proclaiming that a golden era for boutique investment banks and trading outfits was at hand. Bankers at bulge brackets firms were streaming to take offers at boutiques, driven by the view that they would be able to make more money there than at a TARP-rid
Lazard's earnings disappoint
Bloomberg reports that Lazard's earnings lagged expectations. It posted a greater-than-expected loss due to a decline in merger advisory work and the costs of recent layoffs. The company says it has a number of large deals in the pipeline, which could lead to a quick reversal of fortune. As on
Silver lining: More restructuring business
A lot of top Wall Street banks wanted to get into the restructuring business. Morgan Stanley made a move, hiring a big name from Lazard. Goldman Sachs added Jamie Sprayregen, a former Kirkland & Ellis bankruptcy attorney. Harvey Miller was part of the restructuring group at Greenhill & Co.
Silver lining: Bank deals generate fees
Bloomberg notes that there is a silver lining to the financial carnage we've been seeing: Bank mergers soared and, in fact, accounted for more than 60 percent of global mergers and acquisition activity since the beginning of September. The news service says Morgan Stanley, Lazard and Merrill L
The future of Richard Fuld
Richard Fuld started at Lehman Brothers in 1969 as an intern. He moved up quickly, and for the last 15 years he's been CEO. Now it's all unraveling before his eyes. He's survived other crises, but this one may be his undoing--and the bank's. Some hard questions will have to be asked by the board.
