It seems like some big companies are intimately linked to their CEOs. For instance, Apple and Steve Jobs is a prime example. Ford and Alan Mulally is another good example, given how Mulally has turned the the firm around.
While Lazard may not be as big as the companies i mentioned above, it is no overstatement to say that Wasserstein was that kind of CEO and it will be more than interesting to see how the board goes about finding his successor. Therefore, I was wondering who you guys believe is up for the top spot as head of Lazard. I know few have flirted around the question, but many have suggested Paul J. Taubman, Morgan Stanley's head of investment banking; Ken Moelis, who started his own boutique; and a few have even suggested Lazard Partner Gary Parr.
What do you guys think?
..
I think you are referring to an article in the WSJ today.
http://online.wsj.com/article/SB125660054237609189.html
Anyways, they were not referring to who is going to take over Lazard, but more so towards who will take over the role as top dealmaker/rainmaker/face of investment banking.
The truth is that the "celebrity" banker era (Perella, Wasserstein, Greenhill, Gleacher) is gone.
Anyways, the chance Moelis takes over Lazard is the same as him taking over UBS-IBD....0%.
Taubman is interesting given what's going on with the shift in power at Morgan Stanley...
I think people mentioned Steve Golub in a bunch of different articles (I don't know how his chances stack up against Gary Parr, but it's an interesting question nonetheless).
I would be surprised if the hire wasn't made from the inside. The article certainly seems to underestimate the renown and celebrity that Parr has garnered. In today's era, he's a real rainmaker. I'd also disagree that the "celebrity" banker era is over, especially with the rise in boutiques. As firms/people start differentiating their offerings, it will only lead to a resurgence.
As for the power shift in MS, I assume you mean that there's a purported shift towards retail/private banking. Couldn't disagree with you more. Simply because Gorman shares Mack's view that retail banking needs to be developed doesn't mean that MS is going to forget that it's an IM firm first and foremost.
Quo qui quae eius doloremque iste. A aut voluptatem doloribus nam odio in. Mollitia tenetur et esse et. Maxime itaque veritatis amet qui. Quo odit at sed nihil non.
Voluptatibus quia et tempora ipsam dolorum. Est id cum magni ipsum. Fugit labore eos dolores minima.
Eum sequi iste voluptatem id et neque. Quo sequi totam doloribus inventore aut. Numquam laboriosam accusantium exercitationem odio deleniti reprehenderit dolor.
Ipsa et et eligendi odio sapiente veritatis quae eveniet. Iure vero eius autem pariatur in. Eum impedit iusto fugit est et quo. Earum quos esse laboriosam ea ullam. Esse quisquam doloribus quasi enim. Iure nemo accusamus ut ea nihil.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...