Lazard

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Doreen O

 

Date added:

February 19, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1168

 

Was viewed:

7843 times

 

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Essay content:

The business progressively became involved in financial transactions with its retail clients and increasingly with commercial clients. Over time, the business expanded into the banking and foreign exchange businesses. Lazard chairman Michel David -Weill ruled out the possibility of selling the 150-year-old family-run investment bank or taking it public...
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Yet within seven years, Lazard was trading on the stock market, and David -Weill was gone, outmaneuvered by his handpicked replacement, Bruce Wasserstein, recipient of the Program on Negotiation's 2007 Great Negotiator Award. Initial Public Offering and Leadership Strategy David -Weill, a descendant of the firm's original founders, made Lazard's financial matters worse by doling out lavish payments to partners and to a shadowy group of nonworking stockholders known as "capitalists" who were primarily retired partners and partners' descendants...
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