Last $54.03 USD
Change Today -0.83 / -1.51%
Volume 505.8K
LAZ On Other Exchanges
Symbol
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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Clarendon House

2 Church Street

Hamilton, HM 11

Bermuda

Phone: 441-295-1422

Fax:

ry groups, including the following practice areas: consumer, financial institutions, healthcare and life sciences, industrial, power and energy/infrastructure, real estate, and technology, media and telecommunications. In addition to its Mergers and Acquisitions and Restructuring practices, the company also maintains specialties in the following distinct practice areas within its Financial Advisory segment: government and sovereign advisory, capital structure and debt advisory, fund raising for alternative investment funds, private investment in public equities, or ‘PIPES,’ and corporate finance and other advisory services, including convertible exchange transactions, registered direct offerings and private placements. Strategy: The company’s focuses on: investing in its intellectual capital through senior professionals who have strong client relationships and industry expertise; increasing its contacts with existing clients to further enhance its long-term relationships and its efforts in developing new client relationships; developing new client relationships, including leveraging the broad geographic footprint and strong relationships in its Asset Management business; expanding the breadth and depth of its industry expertise and selectively adding or reinforcing practice areas, such as its Capital Structure Advisory and Sovereign Advisory Groups; coordinating its industry specialty activities on a global basis and increasing the integration of its industry experts in mergers and acquisitions with its other professionals; and broadening its geographic presence by adding new offices. Asset Management segment The Asset Management segment offers a range of global investment solutions and investment management services in equity and fixed income strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. As of December 31, 2013, its assets under management (AUM) was managed on behalf of institutional clients, including corporations, labor unions, public pension funds, insurance companies and banks, and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered advisors, as well as on behalf of individual client relationships, which are principally with family offices and high-net worth individuals. The company’s major Asset Management businesses are Lazard Asset Management LLC and its subsidiaries (LAM), with offices in New York, San Francisco, Boston, Chicago, Toronto, Montreal, London, Milan, Frankfurt, Hamburg, Zurich, Tokyo, Hong Kong, Sydney, Seoul, Singapore and Manama; and Lazard Frères Gestion SAS (LFG), with offices in Paris, Bordeaux, Brussels, Lyon and Nantes. In its Asset Management business, the company conducts investment research to develop market, industry and company specific insights and evaluate investment opportunities. The company’s global equity analysts, located in its worldwide offices, are organized around six global industry sectors: consumer goods, financial services, health care, industrials, power and energy, and technology, media and telecommunications. Distribution: The company distributes its products through an array of marketing channels. LAM’s marketing, sales and client service efforts are organized through a global market delivery and service network, with distribution professionals located in cities, including New York, Boston, Chicago, San Francisco, London, Milan, Montreal, Toronto, Singapore, Frankfurt, Hamburg, Zurich, Tokyo, Sydney, Hong Kong, Manama and Seoul. In addition, the company manages assets for insurance companies, savings and trust banks, endowments, foundations and charities. The company also manages mutual funds and separately managed accounts for broker-dealers, insurance companies, registered advisors and other financial intermediaries. LFG markets and distributes its products through sales professionals based in France and Belgium, who directly target both individual and institutional investors. Strategy The company’s strategic plan in its Asset Management business is

 

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Industry Analysis

LAZ

Industry Average

Valuation LAZ Industry Range
Price/Earnings 26.0x
Price/Sales 3.0x
Price/Book 13.2x
Price/Cash Flow 24.2x
TEV/Sales 2.2x
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