Lazard Inc - Understand $LAZ stock

$LAZ Market Cap: $4.278 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$2.862B

TTM

Gross Margin

92.81%

TTM

Net Earnings

$154.8M

TTM

Current Assets

Current Liabilities

Current Ratio

Total Assets

$4.527B

Q2 2024

Total Liabilities

$3.932B

Q2 2024

Book Value

$595.1M

Q2 2024

Cash

$847.6M

Q2 2024

P/E

27.62

Sep 06, 2024 EST

Free Cash Flow

$262.2M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	$2.593B	$2.855B	$3.274B	$2.647B	$2.667B	$2.885B	$2.698B	$2.384B	$2.405B	$2.363B	$2.065B	$1.994B	$1.920B	$2.003B	$1.638B	$1.697B	$2.055B	$1.598B	$1.380B	$1.134B	$1.088B	$1.230B	$1.705B
YoY Change	-9.17%	-12.79%	23.69%	-0.76%	-7.55%	6.93%	13.18%	-0.88%	1.77%	14.45%	3.55%	3.87%	-4.17%	22.26%	-3.46%	-17.41%	28.6%	15.8%	21.63%	4.27%	-11.53%	-27.89%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	$2.593B	$2.855B	$3.274B	$2.647B	$2.667B	$2.885B	$2.698B	$2.384B	$2.405B	$2.363B	$2.065B	$1.994B	$1.920B	$2.003B	$1.638B	$1.697B	$2.055B	$1.598B	$1.380B	$1.134B	$1.088B	$1.230B	$1.705B
Cost Of Revenue	$188.6M	$191.5M	$211.3M	$183.7M	$194.2M	$191.4M	$124.8M	$113.7M	$112.5M	$128.0M	$138.7M	$133.0M	$142.9M	$145.3M	$145.8M	$170.7M	$159.2M	$119.5M	$88.20M	$39.60M	$35.00M	$63.40M	$533.2M
Gross Profit	$2.423B	$2.664B	$3.063B	$2.463B	$2.473B	$2.693B	$2.573B	$2.270B	$2.292B	$2.235B	$1.926B	$1.861B	$1.777B	$1.858B	$1.493B	$1.526B	$1.896B	$1.478B	$1.292B	$1.095B	$1.053B	$1.166B	$1.172B
Gross Profit Margin	93.42%	93.29%	93.55%	93.06%	92.72%	93.36%	95.37%	95.23%	95.32%	94.58%	93.29%	93.33%	92.55%	92.75%	91.1%	89.94%	92.25%	92.52%	93.61%	96.51%	96.78%	94.84%	68.73%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Selling, General & Admin	$2.219B	$2.102B	$2.293B	$1.920B	$2.017B	$1.939B	$1.694B	$1.676B	$2.204B	$1.669B	$1.619B	$1.691B	$1.490B	$1.479B	$1.575B	$1.445B	$1.414B	$1.125B	$913.8M	$684.8M	$579.1M	$710.9M	$754.7M
YoY Change	5.56%	-8.35%	19.43%	-4.79%	4.01%	14.46%	1.07%	-23.95%	32.03%	3.11%	-4.25%	13.47%	0.73%	-6.06%	8.98%	2.21%	25.65%	23.12%	33.44%	18.25%	-18.54%	-5.8%
% of Gross Profit	91.59%	78.91%	74.88%	77.96%	81.56%	71.99%	65.84%	73.83%	96.15%	74.68%	84.05%	90.84%	83.86%	79.62%	105.5%	94.66%	74.58%	76.11%	70.75%	62.55%	55.0%	60.95%	64.39%
Research & Development	$189.7M	$171.7M	$146.8M	$133.5M	$143.7M	$139.7M
YoY Change	10.46%	16.99%	9.9%	-7.09%	2.9%
% of Gross Profit	7.83%	6.45%	4.79%	5.42%	5.81%	5.19%
Depreciation & Amortization	$42.85M	$42.34M	$38.32M	$35.10M	$35.57M	$34.10M	$31.50M	$33.26M	$32.79M	$34.46M	$34.75M	$30.86M	$24.58M	$30.60M	$27.50M	$25.40M	$38.20M	$14.30M	$15.30M	$16.90M	$14.00M	$12.20M	$22.00M
YoY Change	1.22%	10.49%	9.18%	-1.34%	4.31%	8.27%	-5.31%	1.46%	-4.87%	-0.82%	12.62%	25.53%	-19.67%	11.27%	8.27%	-33.51%	167.13%	-6.54%	-9.47%	20.71%	14.75%	-44.55%
% of Gross Profit	1.77%	1.59%	1.25%	1.42%	1.44%	1.27%	1.22%	1.47%	1.43%	1.54%	1.8%	1.66%	1.38%	1.65%	1.84%	1.66%	2.02%	0.97%	1.18%	1.54%	1.33%	1.05%	1.88%
Operating Expenses	$189.7M	$171.7M	$146.8M	$133.5M	$143.7M	$139.7M	$1.748B	$1.753B	$2.309B	$1.716B	$1.709B	$1.737B	$1.541B	$1.527B	$1.612B	$1.501B	$1.477B	$1.151B	$949.2M	$727.0M	$614.2M	$790.2M	$813.1M
YoY Change	10.46%	16.99%	9.9%	-7.09%	2.9%	-92.01%	-0.28%	-24.1%	34.58%	0.37%	-1.61%	12.71%	0.93%	-5.28%	7.39%	1.62%	28.34%	21.27%	30.56%	18.37%	-22.27%	-2.82%
Operating Profit	-$79.96M	$516.8M	$723.8M	$502.1M	$392.7M	$680.8M	$825.4M	$517.5M	-$16.62M	$519.5M	$216.8M	$123.9M	$235.5M	$243.7M	-$119.6M	$25.10M	$418.3M	$327.2M	$342.4M	$367.8M	$438.7M	$376.1M	$359.0M
YoY Change	-115.47%	-28.6%	44.15%	27.87%	-42.32%	-17.53%	59.52%	-3213.48%	-103.2%	139.6%	75.01%	-47.39%	-3.35%	-303.72%	-576.49%	-94.0%	27.84%	-4.44%	-6.91%	-16.16%	16.64%	4.76%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Interest Expense	$77.67M	$81.52M	$80.77M	$80.63M	$80.19M	$58.48M	$53.52M	$50.29M	$51.16M	$62.57M	$79.38M	$81.57M	$90.13M	$97.71M
YoY Change	-4.72%	0.93%	0.17%	0.56%	37.11%	9.27%	6.41%	-1.69%	-18.24%	-21.18%	-2.68%	-9.5%	-7.76%
% of Operating Profit		15.77%	11.16%	16.06%	20.42%	8.59%	6.48%	9.72%		12.05%	36.61%	65.84%	38.27%	40.1%
Other Income/Expense, Net	$72.67M	$44.85M	$45.32M	$38.93M	$43.95M	$89.49M	$44.07M	$41.22M	$99.14M	$39.98M	$80.26M	$38.10M	$39.72M	$40.01M
YoY Change	62.01%	-1.03%	16.41%	-11.42%	-50.89%	103.06%	6.91%	-58.42%	147.96%	-50.18%	110.66%	-4.07%	-0.73%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Pretax Income	-$79.96M	$516.8M	$723.8M	$502.1M	$392.7M	$680.8M	$825.4M	$517.5M	-$16.60M	$519.5M	$216.8M	$123.9M	$235.5M	$243.7M	-$182.2M	$25.10M	$418.3M	$327.2M	$342.4M	$367.8M	$438.7M	$376.0M	$359.0M
YoY Change	-115.47%	-28.6%	44.16%	27.86%	-42.32%	-17.52%	59.5%	-3217.47%	-103.2%	139.62%	74.98%	-47.39%	-3.36%	-233.75%	-825.9%	-94.0%	27.84%	-4.44%	-6.91%	-16.16%	16.68%	4.74%
Income Tax	-$22.65M	$124.4M	$181.3M	$99.45M	$94.98M	$148.3M	$565.6M	$123.8M	-$1.010B	$85.40M	$51.69M	$31.10M	$44.94M	$49.23M	$6.000M	$25.40M	$80.60M	$68.80M	$59.00M	$28.30M	$37.00M	$38.60M	$51.30M
% Of Pretax Income		24.06%	25.05%	19.81%	24.19%	21.79%	68.52%	23.92%		16.44%	23.84%	25.1%	19.08%	20.2%		101.2%	19.27%	21.03%	17.23%	7.69%	8.43%	10.27%	14.29%
Net Earnings	-$75.48M	$357.5M	$528.1M	$402.5M	$286.5M	$527.1M	$253.6M	$387.7M	$986.4M	$427.3M	$160.2M	$84.31M	$174.9M	$175.0M	-$130.2M	$3.100M	$155.0M	$93.00M	$143.5M	$247.0M	$250.4M	$297.4M	$305.8M
YoY Change	-121.11%	-32.3%	31.21%	40.48%	-45.65%	107.87%	-34.59%	-60.69%	130.85%	166.69%	90.03%	-51.8%	-0.04%	-234.39%	-4300.0%	-98.0%	66.67%	-35.19%	-41.9%	-1.36%	-15.8%	-2.75%
Net Earnings / Revenue	-2.91%	12.52%	16.13%	15.21%	10.74%	18.27%	9.4%	16.26%	41.02%	18.08%	7.76%	4.23%	9.11%	8.74%	-7.95%	0.18%	7.54%	5.82%	10.4%	21.77%	23.02%	24.18%	17.93%
Basic Earnings Per Share	-$0.90	$3.68	$4.90	$3.69	$2.57	$4.43	$2.09	$3.11	$7.87	$3.49	$1.33	$0.72	$1.48	$1.68
Diluted Earnings Per Share	-$0.90	$3.51	$4.63	$3.54	$2.44	$4.06	$1.91	$2.92	$7.40	$3.20	$1.21	$0.65	$1.36	$1.36	-$1.663M	$50.90K	$2.492M	$2.104M	$3.816M	$6.587M	$6.677M	$7.931M	$8.155M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Cash & Short-Term Investments	$1.191B	$2.014B	$3.430B	$2.569B	$2.456B	$2.292B	$2.455B	$1.608B	$1.557B	$1.318B	$1.148B	$1.208B	$1.365B	$1.659B	$1.081B	$1.153B	$1.576B	$1.707B	$860.8M	$663.7M	$526.3M	$644.2M
YoY Change	-40.87%	-41.28%	33.53%	4.61%	7.14%	-6.64%	52.71%	3.25%	18.16%	14.73%	-4.93%	-11.53%	-17.71%	53.44%	-6.25%	-26.83%	-7.63%	98.25%	29.7%	26.11%	-18.3%
Cash & Equivalents	$1.191B	$2.014B	$3.430B	$2.569B	$2.456B	$2.292B	$2.455B	$1.608B	$1.557B	$1.318B	$1.148B	$1.208B	$1.365B	$1.659B	$1.081B	$1.153B	$1.576B	$1.707B	$860.8M	$663.7M	$526.3M	$644.2M
Short-Term Investments
Other Short-Term Assets	$233.4M	$217.8M	$238.2M	$183.9M	$117.7M	$142.6M	$117.0M	$85.40M	$34.90M	$104.0M	$94.00M	$80.80M	$86.30M	$95.00M	$65.30M	$75.30M	$65.80M	$38.80M	$20.60M	$11.30M	$82.70M	$63.10M
YoY Change	7.15%	-8.53%	29.5%	56.24%	-17.46%	21.88%	37.0%	144.7%	-66.44%	10.64%	16.34%	-6.37%	-9.16%	45.48%	-13.28%	14.44%	69.59%	88.35%	82.3%	-86.34%	31.06%
Inventory
Prepaid Expenses
Receivables	$560.6M	$491.9M	$669.5M	$621.9M	$537.4M	$501.4M	$487.8M	$564.3M	$423.8M	$483.7M	$452.5M	$400.5M	$402.8M	$480.3M	$437.5M	$391.3M	$520.9M	$417.5M	$280.9M	$282.6M	$319.4M	$214.8M
Other Receivables	$201.8M	$160.9M	$136.3M	$121.2M	$125.7M	$184.1M	$83.80M	$74.00M	$73.40M	$73.90M	$60.20M	$77.50M	$101.7M	$88.40M	$88.20M	$92.10M	$80.50M	$96.40M	$119.2M	$98.00M	$144.0M	$177.2M
Total Short-Term Assets	$2.187B	$2.885B	$4.474B	$3.496B	$3.236B	$3.120B	$3.143B	$2.331B	$2.054B	$1.979B	$1.755B	$1.767B	$1.956B	$2.323B	$1.672B	$1.712B	$2.244B	$2.259B	$1.261B	$1.044B	$989.7M	$1.036B
YoY Change	-24.2%	-35.52%	27.98%	8.02%	3.73%	-0.74%	34.84%	13.49%	3.78%	12.77%	-0.66%	-9.68%	-15.79%	38.9%	-2.32%	-23.69%	-0.69%	79.17%	20.74%	5.52%	-4.49%
Property, Plant & Equipment	$639.7M	$681.7M	$716.1M	$771.5M	$771.3M	$212.9M	$205.3M	$209.0M	$207.2M	$222.6M	$248.8M	$225.0M	$168.4M	$150.5M	$166.9M	$171.4M	$185.5M	$168.3M	$156.6M	$199.5M	$192.5M	$134.9M
YoY Change	-6.15%	-4.8%	-7.19%	0.03%	262.28%	3.7%	-1.77%	0.87%	-6.92%	-10.53%	10.58%	33.61%	11.89%	-9.83%	-2.63%	-7.6%	10.22%	7.47%	-21.5%	3.64%	42.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$702.0M	$699.0M	$1.007B	$658.5M	$532.0M	$575.1M	$427.2M	$459.4M	$541.9M	$620.4M	$478.1M	$414.7M	$378.5M	$417.4M	$807.7M	$620.0M	$1.089B	$678.4M	$380.9M	$660.2M	$1.063B	$702.3M
YoY Change	0.43%	-30.61%	52.97%	23.78%	-7.49%	34.62%	-7.01%	-15.22%	-12.65%	29.76%	15.29%	9.56%	-9.32%	-48.32%	30.27%	-43.06%	60.5%	78.1%	-42.31%	-37.9%	51.39%
Other Assets	$531.4M	$1.033B	$435.3M	$538.4M	$586.8M	$597.8M	$650.3M	$1.076B	$1.131B	$66.20M	$9.200M	$4.900M	$5.900M	$7.600M	$7.600M	$9.000M	$12.70M	$8.100M	$0.00	$1.489B
YoY Change	-48.56%	137.31%	-19.15%	-8.25%	-1.84%	-8.07%	-39.55%	-4.85%	1607.85%	619.57%	87.76%	-16.95%	-22.37%	0.0%	-15.56%	-29.13%	56.79%		-100.0%
Total Long-Term Assets	$2.449B	$2.968B	$2.673B	$2.476B	$2.403B	$1.877B	$1.785B	$2.225B	$2.424B	$1.353B	$1.256B	$1.220B	$1.126B	$1.100B	$1.476B	$1.151B	$1.597B	$949.5M	$650.0M	$2.455B	$2.268B	$1.425B
YoY Change	-17.48%	11.03%	7.96%	3.03%	28.02%	5.15%	-19.77%	-8.19%	79.14%	7.72%	2.93%	8.39%	2.37%	-25.47%	28.22%	-27.94%	68.18%	46.08%	-73.52%	8.26%	59.18%
Total Assets	$4.636B	$5.853B	$7.147B	$5.972B	$5.640B	$4.997B	$4.929B	$4.557B	$4.478B	$3.332B	$3.011B	$2.987B	$3.082B	$3.423B	$3.148B	$2.863B	$3.840B	$3.209B	$1.911B	$3.499B	$3.257B	$2.461B
YoY Change
Accounts Payable			$1.443B	$1.201B	$1.246B	$1.154B	$992.3M	$472.3M	$506.7M	$316.6M	$275.4M	$269.8M	$288.4M	$361.6M	$322.1M	$541.8M	$858.7M	$1.195B	$153.9M	$130.9M	$229.6M	$313.4M
YoY Change			20.1%	-3.61%	7.97%	16.32%	110.1%	-6.79%	60.04%	14.96%	2.08%	-6.45%	-20.24%	12.26%	-40.55%	-36.9%	-28.14%	676.48%	17.57%	-42.99%	-26.74%
Accrued Expenses	$1.462B	$1.446B	$1.722B	$1.522B	$1.426B	$751.6M	$749.3M	$666.3M	$570.4M	$739.0M	$659.7M	$614.8M	$533.8M	$635.5M	$647.3M	$319.1M	$644.7M	$574.8M	$346.1M	$152.7M	$181.0M	$160.6M
YoY Change	1.12%	-16.05%	13.14%	6.72%	89.78%	0.31%	12.46%	16.81%	-22.81%	12.02%	7.3%	15.17%	-16.0%	-1.82%	102.85%	-50.5%	12.16%	66.08%	126.65%	-15.64%	12.7%
Deferred Revenue
YoY Change
Short-Term Debt	$448.1M	$926.5M	$6.828M	$1.200M	$12.90M	$3.900M	$7.300M	$4.500M	$0.00	$9.300M	$4.000M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$367.6M	$407.2M	$398.4M	$405.0M
YoY Change	-51.64%	13468.91%	469.0%	-90.7%	230.77%	-46.58%	62.22%		-100.0%	132.5%								-100.0%	-9.72%	2.21%	-1.63%
Long-Term Debt Due		$0.00	$0.00	$0.00	$0.00
YoY Change
Total Short-Term Liabilities	$1.910B	$2.372B	$3.172B	$2.725B	$2.686B	$1.910B	$1.749B	$1.143B	$1.077B	$1.065B	$944.1M	$888.2M	$828.3M	$999.9M	$986.9M	$898.1M	$1.530B	$1.780B	$871.5M	$690.8M	$809.0M	$879.0M
YoY Change	-19.48%	-25.2%	16.41%	1.46%	40.62%	9.19%	53.0%	6.13%	1.15%	12.8%	6.29%	7.23%	-17.16%	1.32%	9.89%	-41.3%	-14.02%	104.2%	26.16%	-14.61%	-7.96%
Long-Term Debt	$1.778B	$2.271B	$2.260B	$1.683B	$1.680B	$1.434B	$1.190B	$1.196B	$998.4M	$1.060B	$1.064B	$1.095B	$1.097B	$1.250B	$1.262B	$1.265B	$1.765B	$1.309B	$1.246B	$419.0M	$362.2M	$164.9M
YoY Change	-21.72%	0.48%	34.32%	0.18%	17.1%	20.49%	-0.45%	19.77%	-5.85%	-0.36%	-2.79%	-0.2%	-12.23%	-0.93%	-0.25%	-28.34%	34.82%	5.06%	197.35%	15.68%	119.65%
Other Long-Term Liabilities	$323.6M	$412.4M	$465.5M	$424.4M	$451.1M	$547.3M	$597.4M	$815.4M	$1.024B	$305.6M	$252.8M	$230.6M	$177.2M	$263.6M	$254.5M	$301.6M	$269.0M	$213.5M	$552.5M	$1.847B	$1.381B	$699.3M
YoY Change	-21.53%	-11.42%	9.69%	-5.92%	-17.58%	-8.39%	-26.74%	-20.36%	235.05%	20.89%	9.63%	30.14%	-32.78%	3.58%	-15.62%	12.12%	26.0%	-61.36%	-70.08%	33.7%	97.51%
Total Long-Term Liabilities	$2.101B	$2.684B	$2.726B	$2.107B	$2.131B	$1.982B	$1.788B	$2.011B	$2.022B	$1.366B	$1.317B	$1.325B	$1.274B	$1.513B	$1.516B	$1.566B	$2.034B	$1.522B	$1.798B	$2.266B	$1.743B	$864.2M
YoY Change	-21.69%	-1.55%	29.36%	-1.11%	7.52%	10.84%	-11.11%	-0.55%	48.05%	3.72%	-0.63%	4.02%	-15.81%	-0.17%	-3.21%	-22.98%	33.58%	-15.35%	-20.62%	29.96%	101.74%
Total Liabilities	$4.212B	$5.296B	$6.172B	$5.060B	$5.030B	$4.080B	$3.729B	$3.321B	$3.164B	$2.626B	$2.451B	$2.417B	$2.356B	$2.770B	$2.792B	$2.612B	$3.770B	$3.449B	$2.782B	$3.114B	$2.722B	$1.812B
YoY Change	-20.47%	-14.19%	21.97%	0.61%	23.26%	9.43%	12.3%	4.94%	20.52%	7.12%	1.39%	2.61%	-14.96%	-0.8%	6.89%	-30.71%	9.31%	23.99%	-10.69%	14.44%	50.21%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding	88.99M shares	95.66M	106.0M	106.9M	110.2M	119.0M	121.6M	124.8M	125.4M	122.4M shares	120.9M shares	117.0M shares	118.0M shares	104.4M shares
Diluted Shares Outstanding	88.99M shares	101.0M	113.7M	113.5M	116.1M	129.8M	132.5M	132.6M	133.2M	133.8M shares	133.7M shares	129.3M shares	137.6M shares	138.5M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $4.2776 Billion

About Lazard Inc

Lazard, Inc. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. The company is headquartered in New York City, New York and currently employs 3,114 full-time employees. The company went IPO on 2005-05-05. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe an array of financial advisory services regarding strategic and mergers and acquisitions (M&A) advisory, capital markets advisory, shareholder advisory, restructuring and capital solutions, sovereign advisory, geopolitical advisory, and other strategic advisory matters and capital raising and placement. The Asset Management segment offers a range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private clients. The firm operates in North and South America, Europe, Asia and Australia.

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