Lazard Toronto - Closing Shop?
The Globe and Mail recently published an article saying that Lazard is closing its 12-person Toronto IB office. Can anyone with sources/insiders confirm?
Trending Content - Investment Banking Forum
| +434 | Is UBS really that bad? | 77 | 12h |
| +265 | Investment Banking is Divine | 40 | 2d |
| +221 | Another $115bn Mega deal for these banks. Congrats! | 46 | 18h |
| +216 | US 2027 SA IB worried about background check | 53 | 2d |
| +77 | Useless associates | 15 | 2h |
| +77 | Which Offer to Accept: UBS Analyst Role or Part Time Cashier at the Local Taco Bell | 20 | 38m |
| +61 | Roku-Fox Deal - UBS Misses Out on yet another deals after years chasing this deal | 10 | 6h |
| +52 | Differences in Restructuring Teams? | 24 | 14h |
| +46 | FIG Pigeonholes you - is it true? | 18 | 32m |
| +41 | Is Houston SA 28 recruiting already over? | 34 | 2d |
Career Resources
Bump
Bump - what will happen to incoming interns?
They’ll obviously get paid by a non-existing entity and pretend to have a summer gig
Was this a new article? I was under the impression they had let go of a few people from their already small 12 person headcount
I haven’t personally heard any details, but the article made it seem like they were cutting back the vast majority of their Advisory team (and only keeping a few), with asset management in Toronto untouched
im not really surprised as Lazard has a history of fully opening and closing in Canada (they had an office that was shutdown in 2009, prior to reentering Canada in 2016). The current Lazard Toronto has very limited (any?) deal flow and is way overstaffed with 11 bankers supporting 1 MD.
Confirmed that it's a full shutdown/exit (asset management will remain but it has always been separate); G&M article a little ham-fisted (as are most G&M articles/journalists) calling it a 'vast reduction', but maybe that's cause there are guys like Wiseman who may be 'Canada' but are really NY-based (or affiliated). Interns/new hires should expect to be informed of their pending unemployment (or rather not informed at all and assumed they will just figure it out...).
Toss another fresh batch of banker supply into this already oversupplied market...
Can confirm they shuttered. Everyone laid off.
Bump
Does anyone know what will happen to incoming FT and summer analysts at LAZ Toronto?
Let's see which bank scoops up the MD
Facilis ipsum voluptatem atque unde sapiente quis eum. Soluta soluta tempore ut vitae repellendus hic sunt. Et debitis et voluptatum sed est accusamus ut. Rem dolores velit debitis est dolorem.
Est aperiam earum reprehenderit. Autem atque ut enim et ut. Hic atque nemo laborum aut maxime ad. Dolore facilis omnis voluptatum pariatur eos. Similique et sit sed maiores.
Earum dicta vel est debitis. Sit voluptatem dolores ratione in tempora maiores inventore cumque. Beatae et officiis atque rem mollitia voluptatibus. Et explicabo molestiae ducimus est.
Vero quo facere aut tempora deserunt eum maxime. Rem expedita animi nisi. Necessitatibus facere dolorem debitis quibusdam.
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...