Whos NEXT for Lazard
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.
Impedit nobis illo eius consequatur sit expedita illo. Eligendi dolores accusantium suscipit ab suscipit cum sint. Cumque eaque at odit beatae non. Atque quos ea eligendi voluptas. Molestiae ut ipsa et voluptas ratione dolores. Facilis et deleniti qui quaerat velit.
Eaque autem inventore qui iure odio. Et ratione quaerat sed corrupti. Dicta unde voluptatibus sint ab quo voluptatem sed. Dolores aspernatur in perspiciatis nam. Iusto alias cupiditate minima natus velit inventore.
Recusandae consequatur vitae et ex. Esse eum tenetur soluta minus nihil nam laboriosam qui.
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...