DIRS.INFO The most relevant business & tech news

☆ Watch CNBC's full interview with Lazard's Peter Orszag on M&A outlook
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lazard's Peter Orszag on M&A outlookPeter Orszag, the CEO-elect at Lazard, joins 'Squawk on the Street' to discuss a turning point in M&A activity, the underlying drivers of M&A growth, and the pricing, financing, and regulatory headwinds to M&A.

Persons: Lazard's Peter Orszag, Peter Orszag Organizations: Lazard

☆ Falling inflation has more to do with post-pandemic effects than Fed hikes: Lazard's Peter Orszag
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFalling inflation has more to do with post-pandemic effects than Fed hikes: Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk Box' to discuss the Fed's inflation fight, the latest market trends, the state of dealmaking, and more.

Persons: Peter Orszag Peter Orszag, Obama Organizations: Lazard Locations: dealmaking

☆ The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
▼ + stars: | 2023-07-10 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

But even as the dust settles from a string of government seizures of failed midsized banks, the forces that sparked the regional banking crisis in March are still at play. What is coming will likely be the most significant shift in the American banking landscape since the 2008 financial crisis. JPMorgan shares are up 7.6% this year, while the KBW Regional Banking Index is down more than 20%. Some of those pressures will be visible as regional banks disclose second-quarter results this month. "The fundamental issue with the regional banking system is the underlying business model is under stress," said incoming Lazard CEO Peter Orszag.

Persons: Jamie Dimon, Brian Graham, Banks, KeyCorp, Matt O'Connor, Peter Orszag, SVB, Chris Wolfe, Wolfe, you've, You've, Goldman Sachs, Lazard's Orszag, Orszag, Janet Yellen, Sen, Elizabeth Warren, Klaros, Graham Organizations: First, JPMorgan, Silicon Valley Bank, CNBC, Klaros, Deutsche Bank, Federal Reserve Bank of New, Justice Department Locations: First Republic, Silicon Valley, SVB, KBW, Federal Reserve Bank of New York, Republic

☆ Lazard, facing a dealmaking drought, is on a mission to boost its money management business. It won't be easy.
▼ + stars: | 2023-07-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

The group extends guidance on geopolitical matters to clients as well as colleagues, like the asset management arm's sprawling salesforce. The firm is making a series of changes to ramp up its asset management business. Lazard has had an asset management business for decades, but it's a business that's finding new relevance on Wall Street. Incoming Lazard CEO Peter Orszag, pictured here in May, has made improving the asset management business a priority. "When it comes to the asset management business, the picture is probably more blurry," said Richard Bruyère, managing partner of the Paris-based asset management advisory firm Indefi.

Persons: Lazard, Evan Russo, Yevgeny Prigozhin, Peter Orszag, Barack Obama, Bill Clinton, it's, Russo, Orszag, Ray McGuire, Jennifer Ryan, Goldman Sachs, Brennan Hawken, Richard Bruyère, Bruyère, Ryan, Hartley, Morgan Stanley, Janus Henderson, Ashmore, Devin Ryan, AllianceBernstein, Larry Cohen, " Russo, Peter Organizations: Lazard, BlackRock, Citi, New York, North, Incoming Lazard, REUTERS, UBS, Investors, Firms, Virtus, Liontrust, Bank's JMP Securities Locations: Russia, New York, Washington, North America, Paris, Taft, Asia

☆ Lazard fires senior banker for inappropriate behavior -source
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, July 3 (Reuters) - Investment bank Lazard (LAZ.N) terminated a managing director for inappropriate behavior over the weekend, according to a source familiar with the situation. Incoming CEO Peter Orszag sent a memo to staff this weekend informing them that the company had dismissed a managing director in the bank's financial advisory unit, the source said. Lazard took action after investigating the behavior, which occurred at a personal event at which employees were present, the source said, without naming the banker. Orszag currently leads Lazard's financial advisory unit overseeing deals. Reporting by Lananh Nguyen; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Peter Orszag, Lazard, Orszag, Lananh Nguyen, Leslie Adler Organizations: YORK, Investment, Lazard, Bloomberg News, Thomson

Morgan Stanley co-presidents Ted Pick and Andy Saperstein are widely viewed as the front-runners for the top job, with Pick seen as having a slight edge, the person said. A Morgan Stanley spokesperson declined to comment, as did Gorman, Pick, Saperstein and Simkowitz when contacted directly. SUCCESSION PLANNINGSince taking the helm, Australian-born Gorman, 64, has transformed Morgan Stanley through a series of major deals into a wealth management powerhouse that aims to manage $10 trillion in assets. Pick, 54, heads Morgan Stanley's institutional securities group, overseeing areas including investment banking, equities and fixed income. Saperstein, 56, is in charge of the wealth management unit that has bolstered Morgan Stanley's profits in recent years.

Persons: Morgan Stanley's, James Gorman's, Gorman, Morgan Stanley, Ted Pick, Andy Saperstein, Pick, Dan Simkowitz, Morgan, Merrill Lynch, You've, you've, Peter Orszag, Kenneth Jacobs, JPMorgan Chase, Jamie Dimon, Brian Moynihan, Lananh Nguyen, Paritosh Bansal, Megan Davies, Jamie Freed Organizations: YORK, U.S . Securities, Exchange Commission, U.S, Attorney's, Southern, of, McKinsey, White House, JPMorgan, Bank of America, Thomson Locations: London, New York, of New York, Australian

☆ It would be a mistake to raise rates again, says Lazard's Peter Orszag
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt would be a mistake to raise rates again, says Lazard's Peter OrszagPeter Orszag, Lazard Financial Advisory CEO and former OMB director under President Obama, joins 'Squawk Box' to discuss the latest on debt ceiling deal, the Fed's rate hike campaign, mergers and acquisitions activity, and more.

Persons: Lazard's Peter Orszag Peter Orszag, Obama Organizations: Lazard Financial

☆ Wall Street's succession summer
▼ + stars: | 2023-05-30 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +5 min

But first, it's the summer of succession — and no, we're not talking about the TV show. Wall Street CEOs pretend that succession planning is another chore, like hashing out the annual budget or organizing an earnings call. But behind the boring press announcing their succession plans is often a story of intrigue and drama. And then, of course, there's Jamie Dimon, Wall Street's longest-serving CEO. Earlier this week, Insider highlighted 17 young analysts poised to shine.

☆ Lazard Names Peter Orszag to Succeed Ken Jacobs as C.E.O.
▼ + stars: | 2023-05-26 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Lazard announced on Friday that Peter Orszag, who leads its core financial advisory business, will succeed Ken Jacobs as the company’s chief executive on Oct. 1. Mr. Jacobs will stay on as executive chairman and continue to advise clients. Mr. Orszag, a former Obama administration official, will oversee a 175-year-old financial institution with a long history of advising on major corporate deals at a time when its mainstay business faces huge challenges. “Over his career spanning both banking and government, Peter has proven to be a strategic, visionary and decisive leader, with deep relationships across the industry and the ability to effectively lead Lazard through evolving global markets and complex geopolitical dynamics,” Richard Parsons, the firm’s lead independent director, said in a statement. Lazard did not say when its succession planning began, but Mr. Orszag, 54, wrote in a memo to employees on Friday that the move followed a “selection process that has been in the works for quite some time.”

☆ Lazard's new CEO once inspired a fan blog called Orszagasm.com. Here are 5 fascinating facts about Peter Orszag, Wall Street's newest chief.
▼ + stars: | 2023-05-26 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +1 min

Peter Orszag has been named CEO of investment bank Lazard, effective October 1. Orszag is best known as Barack Obama's director of Office of Management and Budget. Investment bank Lazard announced on Friday that Peter Orszag, CEO of its financial advisory business, would replace Kenneth Jacobs as CEO. But he is also no ordinary Wall Street CEO. He only made the switch to Wall Street from Washington in 2011.

☆ Lazard CEO Jacobs set to step down, Orszag to take helm -source
▼ + stars: | 2023-05-19 | by ( Anirban Sen | ) www.reuters.com time to read: +2 min

Jacobs' decision to step down comes after Lazard reported a loss in the first quarter as dealmaking activity slumped. Lazard's stock has lost about 17% this year, giving the independent investment bank a market capitalization of just over $3 billion. Orszag, 54, was previously was head of North America M&A at Lazard and joined the bank from Citigroup in 2016. Jacobs, 64, joined Lazard from Goldman Sachs Group (GS.N) in 1988 and took over as CEO in 2009 after the death of his predecessor, Bruce Wasserstein. The Wall Street Journal first reported on the succession.

☆ A new class of executives on Wall Street is gaining a ton of power
▼ + stars: | 2023-05-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

I still need questions for a future mailbag. As Wall Street grapples with how to deploy AI, the executives overseeing the tech are rising in prominence. Bianca mapped out the 12 executives leading AI strategy at Bank of America, Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo. Meet the 12 executives leading the AI strategy at the biggest US banks. The bank run on Silicon Valley Bank, which was helped along by social media, has bank executives reconsidering their online presence, Reuters reports.

☆ Lazard CEO Ken Jacobs set to step down
▼ + stars: | 2023-05-18 | by ( Anirban Sen | ) www.reuters.com time to read: +1 min

Lazard lead director Richard Parsons declined to provide details of the succession plan in a statement. "We have a succession plan that we have had in place for quite some time and our plan is on track," he said. The appetite for mergers and acquisitions has soured in recent months amid volatility in the capital markets, geopolitical tensions and rising interest rates. Investment banking units at large Wall Street firms have cut bonuses and laid off staff in recent months as stock market listings stalled and companies slamming the breaks on deals. The Wall Street Journal first reported on the succession.

☆ Watch CNBC's full interview with Lazard's Peter Orszag on Tuesday's critical debt ceiling meeting
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lazard's Peter Orszag on Tuesday's critical debt ceiling meetingPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk Box' to preview President Biden's debt ceiling meeting with top congressional leaders, and why the administration shouldn't simply agree to a one-year debt ceiling reprieve.

☆ Here's what Lazard's Peter Orszag thinks the best option is if a debt ceiling deal can't be reached
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what Lazard's Peter Orszag thinks the best option is if a debt ceiling deal can't be reachedPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk Box' to preview President Biden's debt ceiling meeting with top congressional leaders, and why the administration shouldn't simply agree to a one-year debt ceiling reprieve.

☆ Pressure grows for US regulatory intervention as bank rout deepens
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +4 min

"Investors are clearly continuing to focus on remaining players that are deemed the weakest," wrote UBS banking analyst Erika Najarian on Thursday. The Federal Deposit Insurance Corp. did not respond to a request for comment. Critics say increasing deposit insurance could encourage risk-taking, and note regulators have fewer tools to rescue banks following the 2008 financial crisis. The latest crisis began in March when runs on Silicon Valley Bank and Signature Bank led to their abrupt closures, leading depositors to move their cash to bigger banks. To stem the contagion, regulators took emergency steps to reimburse all customers at the two banks, while the Fed offered lenders additional liquidity.

☆ The market is looking for the next 'domino' to fall, keeping banks under pressure
▼ + stars: | 2023-05-03 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

After an intense few days in which the fate of ailing lender First Republic was finally determined, veteran banking analyst Christopher McGratty was looking forward to some calm. Minutes after the start of regular trading, however, the regional bank stocks he covers for KBW began plunging. "I was like, 'Hey, it's a good day to catch up, it seems like an orderly kind of day,'" McGratty said in a phone interview. "I get back to my desk, and I had 40 emails and 10 voicemails, and my screen was completely red." The sharp selloff in regional banks sparked by the March failure of Silicon Valley Bank resumed Tuesday, catching Wall Street analysts and investors off guard.

BEVERLY HILLS, May 2 (Reuters) - Wells Fargo & Co (WFC.N) CEO Charlie Scharf said on Tuesday the banking industry is "extremely strong" but added he expects more volatility as market participants assess the health of financial institutions. "Talking about regional banks as one - it just makes absolutely no sense," Scharf said at the Milken Institute Global Conference. "Unfortunately, there will be a lot of volatility and turmoil," he said, adding that "the majority of the banks that we look at are still extremely strong." He did not expect more bank failures comparable to the recent collapses of Silicon Valley Bank, Signature Bank and First Republic Bank. Lazard advised First Republic Bank (FRC.N) before it was seized by regulators and sold to JPMorgan on Monday.

☆ Peter Orszag: JPMorgan's cost to the FDIC was smaller than what it could've been
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeter Orszag: JPMorgan's cost to the FDIC was smaller than what it could've beenPeter Orszag, Lazard Financial Advisory CEO, joins 'Squawk on the Street' to discuss the fallout with the banking system, the deal between the FDIC and J.P. Morgan and what the Federal Reserve should do now.

☆ The debt ceiling is an added source of volatility in the economy, says Lazard's Peter Orszag
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe debt ceiling is an added source of volatility in the economy, says Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk on the Street' to discuss House Speaker McCarthy's debt ceiling proposal, the potential credit crunch, and the Fed's rate plan.

☆ Watch CNBC's full interview with Lazard's Peter Orszag
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk on the Street' to discuss House Speaker McCarthy's debt ceiling proposal, the potential credit crunch, and the Fed's rate plan.

NEW YORK, April 14 (Reuters) - Firms find that investors penalize their stock less for high greenhouse gas emissions if they voluntarily disclose that data, researchers at Lazard's climate center said on Friday. For energy companies the effect was more pronounced: Disclosure actually increased their P/E measure by 0.8%. "People might assume the worst if you don't disclose," said Peter Orszag, chief executive of financial advisory at Lazard. Many firms have pledged in recent years to reduce their carbon emissions, but the report found this had little observable impact on their valuations. "Investors may not interpret pledges as bearing material weight, but rather as ... bolstering public relations," the report said.

Some industry executives said the central bank should prioritize financial stability now. “Go fast and hard on financial stability; go gradual and slow on price stability,” said Peter Orszag, chief executive of financial advisory at investment bank Lazard Ltd (LAZ.N). The central bank declined to comment. Others have joined in, with the European Central Bank raising rates by 50 basis points earlier this week. The events this past week correspond to a 1.5% increase in the Fed funds rate, Slok wrote.

☆ Regional banks relied on a business model that relied on uninsured deposits: Lazard's Peter Orszag
▼ + stars: | 2023-03-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional banks relied on a business model that relied on uninsured deposits: Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard, joins 'Squawk Box' to discuss Silicon Valley Bank filing bankruptcy, the proposal to insure all bank deposits, and the move for more regulation of regional banks.

☆ Silicon Valley Bank faces 'classic run on a bank', says Lazard's Peter Orszag
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley Bank faces 'classic run on a bank', says Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard, joins CNBC's "Squawk Box" to discuss Friday's premarket action and the potential fallout from trouble at Silicon Valley Bank.

Search resuls for: "Orszag"

25 mentions found