Key facts
- Lazard has hired Klaus Hessberger, a senior private equity dealmaker, from J.P. Morgan.
- Hessberger will be Co-Head of Global Financial Investor Business at Lazard's London office.
- He previously held a co-head position for strategic investors and private equity firms at J.P. Morgan.
- Hessberger had been with J.P. Morgan for over 20 years, leading its European financial investor business since 2016.
- This move occurs amidst a broader trend of talent migration from J.P. Morgan's investment banking division.
Lazard has recruited Klaus Hessberger, a prominent private equity dealmaker, from rival J.P. Morgan. Hessberger is set to assume the role of Co-Head of Lazard's global business with financial investors in London within months. He will work alongside Adam Cady, who joined Lazard in 2024 from Bank of America.
Hessberger, 56, was recently promoted in September 2023 to co-head of strategic investors and private equity firms worldwide at J.P. Morgan, alongside Ina De. Prior to that, he led the bank's financial investor business in Europe since 2016. His move to Lazard, a firm described as dynamically advancing in the competitive landscape, may be driven by a desire for greater scope for action compared to the larger J.P. Morgan.
This recruitment follows a trend of significant talent shifts within the investment banking sector. In April 2024, Goldman Sachs reportedly hired two top M&A bankers specializing in private equity clients from J.P. Morgan within a single week. Carsten Woehrn, a German national who had been appointed co-M&A Europe chief at J.P. Morgan in October 2023, moved to Goldman Sachs to lead its European financial investor business. His U.S. colleague, Haidee Lee, also transitioned to Goldman Sachs.