Lazard LA?
Wanted to see if anyone can give an update on Lazard’s LA team. I’ve heard a lot of positive things about them.
Wanted to see if anyone can give an update on Lazard’s LA team. I’ve heard a lot of positive things about them.
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Career Resources
Based on the most helpful WSO content, here's an update on Lazard's LA team:
Mid-Level and Senior Staff: The mid-level people at Lazard LA are generally described as nice, though some personalities can be more intense. This suggests a professional environment where individuals are passionate about their work. The senior bench, particularly in areas like A&D (Aerospace & Defense), has seen some momentum, indicating a strong presence in the industry. Additionally, the MD covering interactive media is noted for being very knowledgeable and passionate, highlighting expertise in specific sectors.
Office Culture: The office culture at Lazard LA is mentioned to be on the "chiller side" compared to other LA groups like Moelis, MS, or HL. This could imply a more relaxed atmosphere, which might be appealing for those looking for a balance between high-intensity work and a supportive environment.
Exposure and Experience: While the specific details on deal flow or projects weren't provided, the mention of strong momentum in the A&D sector and knowledgeable senior staff suggests that working at Lazard LA could offer valuable exposure to significant deals and learning opportunities from experienced professionals.
In summary, Lazard's LA team seems to have a positive reputation, with a supportive culture and knowledgeable staff, particularly in sectors like A&D and interactive media. This could make it an attractive option for those looking to gain experience in investment banking while working in a more relaxed office environment compared to other firms in LA.
Sources: PWP LA, Lazard LA, and Houlihan LA (RX), Lazard vs Moelis Chicago Offices, Lazard SA 2020 updates?, Lazard LA vs Barclays LA vs BAML LA, Lazard SA 2018
Couple friends I used to work with there - they’re bros. Work hard, play hard LA edition.
great gig if you aren’t afraid of the grind, you’ll get paid
Is it just media now? Heard a&d MDs left
Have a good friend there now — mostly all A&D and have been mandated on a bunch of deals recently. They have an awesome team and pretty stellar culture from what I’ve been told. Seems like one of the best places to be in IB. Source said that the people that left the group weren’t rainmakers and tough work styles, and their departure had no effect on deal flow. Limited intern and analyst spots Major focus on fit during recruiting for SA’s
Ex-Laz LA so I can provide an insight. The office has gone through a lot of turnover over the past couple of years, but it's still a solid office. The office used to be divided between A&D and Interactive Media (video games), but 2 of the 3 A&D MDs left for PWP and the Head of Interactive Media also recently left. Now there's just one A&D MD and another newly promoted MD on the A&D side as well. The remaining A&D MD is a strong MD with a lot of relationships, but the practice has definitely taken a hit with the other two MDs leaving as well. The MD at Lazard is a very old-school MD who has strong relationships, but has always been culturally very old-school as well in a used car salesman type of way. He's solid to work for as a junior, but he's the type of MD who's stingy with money and is all about himself - he takes credit for everything, isn't great about sharing creds and fees, and as a result Lazard LA's had a lot of Directors who left due to there not being any room left by him at the top. He's a strong MD with good deal flow, but he's also the type of MD who is a relationship "salesman" banker and is polarizing to clients (some clients love him, some clients find his work and character...lackluster). With that being said, those cons really don't matter at the junior level when you're leaving for PE in two years, and that MD is great to work with (partially because he's not the in-the-weeds type of MD).
The two MDs who left are very different - they're very detail-oriented and on the more technical side. They're also very strong MDs (especially the more senior one), but they've made their name more based on their ability to manage processes than entrenched relationships. They also brought one of the VPs that's very good at running processes (very detail-oriented and in-the-weeds) with them. All of them are very nice people and are strong MDs. They genuinely care about talent development and retention and are very team-oriented bankers. With that being said, because they are a lot more rigorous with their work product and management style, working under them at the junior level is much sweatier. The video game guy who just recently left is also great - very strong MD with strong connectivity in his space who is a trusted subject matter expert, and more importantly also a great human being.
With all of that being said, Lazard LA's gone through a lot of volatility over the past few years and isn't culturally the greatest place at the more senior levels in the office and institutionally under the Lazard firm leadership (there's a reason why 3 good MDs have left over the past 1.5-2 years), but that's a view coming from someone who's at the mid-levels in his career, and doesn't really matter for your potential two-year stint their as an analyst. It's overall still a great place for you to get in deal reps and leave for PE.
Now that the Interactive Media MD moved over to PWP LA, how would you go about deciding Lazard LA vs. PWP LA and Moelis LA?
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