Key facts
- Lazard's UK operations have achieved profitability.
- A decrease in staff costs contributed to the return to profit.
- Mark Versey, CEO of Lazard Financial Services, advocated for minimum holding periods for financial products.
Lazard's UK business has successfully returned to profitability, a turnaround attributed in part to a reduction in staff costs. Mark Versey, CEO of Lazard Financial Services, highlighted the importance of clear product liquidity definitions, suggesting that a regulatory label for minimum holding periods would prevent the misrepresentation of financial products as liquid when they are not.
Lazard is a global financial advisory and asset management firm. Its services include M&A and strategic advisory, capital markets advisory, and restructuring and liability management, alongside asset and wealth management operations.