Nov. 17 (Bloomberg) -- Lazard Ltd. named Kenneth Jacobs, head of the investment bank’s North American businesses, as chairman and chief executive officer, succeeding Bruce Wasserstein, who died last month.
Jacobs, 51, takes over from interim CEO Steven Golub, 63, who will continue as vice chairman of Lazard and chairman of the financial-advisory group, the Hamilton, Bermuda-based firm said today in a statement.
A 21-year veteran of Lazard, Jacobs will lead the company as the worst market for mergers and acquisitions since 2003 shows signs of a rebound. The firm’s third-quarter profit of $52.5 million beat analysts’ estimates as restructuring work helped compensate for the slowdown in mergers.
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