LAZ RX getting demolished?
Saw another set of MDs leaving (this time to ROTH). Anyone with insights on where LAZ RX is headed?
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Yes, Aebersold and Sorenson (NY RX) left to ROTH (probably poached by Andrew Yearley, who himself left LAZ ~a year ago). At this point, only the legacy is really left at LAZ RX.
They are definitely not tier 1 (PJT RSSG, EVR RX) or even tier 2 (HL RX, MOE). They are probably somewhere with PWP, GHL, or GUGG (which is still great obviously, but considering that LAZ RX was often touted in the past as a tier 1 shop (alongside BX/PJT), it's a big fall)
What is left of Lazard's RX group at this point? They've been hammered these last 2-3 years
Bump.. recently got an offer from the group but debating whether to take it (also have a distressed credit shop offer).
Tbh I got weird vibes from the team there even though it's considered a top rx group (?)
Exits are still good from what I hear (TPG, Apollo, Searchlight...). Talent though is weak, especially at the senior level. Overall, not the place to be. It's amazing how this group has fallen over the last 3-5 years - Used to dominate the RX scene next to PJT/BX. Now it's below the likes of MOE and EVR RX, probably in line PWP
You are severely knocking PWP.........
have heard culture and WFH policy kinda sucks ass compared to rest of the Laz groups.
Take the credit shop. Worked across the table from Lazard and it does not look good. Other RX firms have much better deal flow and culture.
IMHO depends on the credit shop but LAZ RX is not the place it used to be. Don't be mistaken into thinking it's the same place as in the past
Lot of misconceptions here, am pretty familiar with the group / situation. All the MDs who have left for Roths were underperforming / were pushed out, would not consider any of them to be meaningful. Think this is part of a firm-wide push to push out bad MDs and improve talent (if I recall they also hired a couple solid names in the distressed space to replace them). Couple news articles about this online
Have heard the nyc culture is alright, especially since those MDs have been pushed out. Believe exits are still quite strong, like someone else mentioned. Don’t know much about their Chicago office but think it’s pretty relaxed
Dunno man, the MDs they brought over aren't exactly stellar and frankly, when ~50% of your MD count leaves in a year it doesn't seem to be involuntary but rather an evacuation of a sinking ship
Agree with this...they had some major MDs leave in a mass exodus then the two MDs they brought in seem to be more creditor oriented. It's like...sure...we can't bring in any debtor mandates anymore because our platform has declined significantly so let's build out a creditor and UCC practice? I mean look at their background here: https://www.lazard.com/news-announcements/lazard-welcomes-two-new-manag…;
It will take a lot of time for Laz to be an industry leading Rx platform again, especially when other "T 2" shops are winning very solid mandates...
Lazard Rx is doing just fine… know the group directly. Def not pulling like 80% all debtor work any more, but still a very strong group.
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At a different LAZ group, but the RX group is known to be a shitshow. Terrible culture with a shaky base. Exits are fine for now
This is just not true
LMAO, LAZ shills are really busy MSing
.
The only thing LAZ demolished are juniors in RX. What a shit show
Details? What happened there
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