Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 9 pages
Data source: Published sources
Abstract
Lazard is a financial and strategic advisory firm known for its employees (also called advisors), all of whom are partners in the firm. Most of them are aristocratic individuals with wide networks among political and business elite who could get through to Lou Gerstner or Prince Philip with a single phone call. The firm is known for its objective and specific advisory services unlike other traditional banks that provide advisory services along with their lending services. With Bruce Wasserstein as its Chairman of the executive committee, Lazard filed for initial public offering, an indication that the firm was moving away from its roots. This case study prompts discussion on the business model of Lazard vis-a-vis its competitors and triggers a debate on its future prospects following this change in strategy
About
Abstract
Lazard is a financial and strategic advisory firm known for its employees (also called advisors), all of whom are partners in the firm. Most of them are aristocratic individuals with wide networks among political and business elite who could get through to Lou Gerstner or Prince Philip with a single phone call. The firm is known for its objective and specific advisory services unlike other traditional banks that provide advisory services along with their lending services. With Bruce Wasserstein as its Chairman of the executive committee, Lazard filed for initial public offering, an indication that the firm was moving away from its roots. This case study prompts discussion on the business model of Lazard vis-a-vis its competitors and triggers a debate on its future prospects following this change in strategy