Lazard Inc (NYSE: LAZ) is a financial advisory and asset management firm that advises clients on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitical matters, and other strategic transactions, while also managing assets for institutional and individual investors. Revenue is generated through advisory fees on completed transactions and ongoing mandates, and through asset management fees tied to assets under management. Founded in 1848 and operating across North and South America, Europe, the Middle East, Asia, and Australia, Lazard positions itself as an independent advisor serving corporations, governments, institutions, partnerships, family offices, and high net worth individuals. The firm operates two reported business segments: Financial Advisory and Asset Management, with the mix of activities across segments, geographies, industries, and investment strategies cited in its FY2025 10-K (filed 2026-02-23) as a source of revenue diversification.

Revenue model

Transactional advisory fees on M&A, restructuring, capital markets, and strategic assignments, plus recurring asset management fees based on assets under management. Both segments contribute to total net revenue.

Products and services

Financial Advisory services including M&A advice, capital markets and capital solutions, restructuring and liability management, and geopolitical and strategic advisory. Asset Management services including investment solutions for institutions and individuals.

Customers and end markets

Corporations, partnerships, institutions, governments and sovereigns, family offices, and high net worth individuals. End markets span M&A activity, corporate restructuring, capital markets transactions, and institutional asset management.

Value-chain role

Independent financial advisor and asset manager. Sits between capital providers and corporate or sovereign clients, providing advice and investment management rather than balance-sheet capital.

Geographic exposure

Global. Operations in North America, South America, Europe, the Middle East, Asia, and Australia, per FY2025 10-K filed 2026-02-23.

Source: SEC 10-K, filed 2026-02-23

Industry: Investment Advice