Lazard, Inc. (LAZ) Presents at Goldman Sachs 2025 U.S. Financial Services Conference Transcript
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Financial Services Conference December 10, 2025 10:00 AM EST Company Participants Peter Orszag - CEO & Chairman Conference Call Participants James Yaro - Goldman Sachs Group, Inc., Research Division Presentation James YaroGoldman Sachs Group, Inc., Research Division Okay. Let's get started here. So we'd like to welcome back Peter Orszag CEO and Chairman of Lazard, who joins us for the third consecutive time at the conference. Peter assumed the CEO role on October 1, 2023, and the Chairman of the Board role on January 1 of this year, after having previously served as CEO of Financial Advisory. Prior to joining Lazard 2016, Peter held senior roles at Citi and in the Obama White House, and thank you so much again for joining us. Peter OrszagCEO & Chairman Great to be with you. Question-and-Answer Session James YaroGoldman Sachs Group, Inc., Research Division All right. Let's jump right into it. So we're nearing the 2025 and you're more than 2 years into your role as CEO and with the new Chairman role. What are the big lessons so far? What are you most proud of? And where do you see the most opportunity for Lazard going forward? Peter OrszagCEO & Chairman Thank you so much, James. We actually just held our Financial Advisory Managing Director conference globally yesterday. It is fantastic to see the progress that we've made, and let me highlight a couple of things. I think I will now talk about what we have done in a way that I was not comfortable doing while we were doing it, which is a massive amount of transformation. So out of 212 managing directors on the advisory side at the end of 2022, we separated from 87 of them over the past 2 years and then hired or promoted Recommended For You