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The Enigmatic History of Lazard Frères & Co.: Unraveling the Secrets of the Global Financial Giant

Leon Foster

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The Iconic Lazard Frères & Co. Building In New York City The Last Tycoons: The Secret History Of Lazard Freres Co

In the labyrinthine world of high finance, Lazard Frères & Co. stands as an enigmatic titan. With a history spanning over two centuries, the firm has played a pivotal role in shaping the global financial landscape, yet its inner workings remain shrouded in secrecy.

The Last Tycoons: The Secret History of Lazard Freres & Co.

by William D. Cohan

4.3 out of 5

Language	:	English
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Print length	:	754 pages

Origins in France

The roots of Lazard Frères & Co. can be traced to 1848, when three Jewish brothers, Alexandre, Elie, and Simon Lazard, established a small merchant bank in Paris. Leveraging their connections within the Jewish community and the growing French economy, the Lazard brothers quickly expanded their business, specializing in foreign exchange and international trade finance.

Expansion in the United States

In 1880, Lazard Frères & Co. expanded its operations to the United States, establishing a presence in New York City. Led by Eugène Meyer, the prominent American investment banker, the firm played a significant role in financing the rapid industrialization of the American economy.

Partnerships with Elites

Throughout the 20th century, Lazard Frères & Co. forged close partnerships with wealthy families and powerful institutions. The firm served as financial advisors to the Rockefellers, the Rothschilds, and the Kennedys, cementing its position as an elite investment banking powerhouse.

Landmark Transactions

Lazard Frères & Co. has been involved in some of the most iconic financial transactions in history. In 1981, the firm advised AT&T on its $1.5 billion acquisition of IBM's PC division, a deal that transformed the personal computer industry.

In 2008, Lazard Frères & Co. played a key role in the restructuring of Lehman Brothers after its collapse, demonstrating the firm's expertise in crisis management and financial advisory.

Privatization and Expansion

In 1994, Michel David-Weill acquired control of Lazard Frères & Co. and took the firm private. Under his leadership, Lazard expanded its international presence and diversified its portfolio of financial services.

Today, Lazard Frères & Co. operates in over 40 countries, offering a comprehensive range of investment banking, asset management, and financial advisory services to a global clientele.

Culture of Secrecy

Lazard Frères & Co. has long been known for its culture of secrecy. The firm places a high value on confidentiality and discretion, refusing to comment on its clients or internal operations.

This enigmatic approach has contributed to the firm's mystique, fostering speculation about its influence and involvement in major financial events.

Controversies and Criticism

Despite its illustrious history, Lazard Frères & Co. has not been immune to controversy. In recent years, the firm has faced criticism for its involvement in high-profile mergers and acquisitions that have drawn scrutiny from regulators and antitrust authorities.

Legacy and

The legacy of Lazard Frères & Co. is one of financial prowess, global reach, and enduring enigma. As the world's oldest and most prestigious investment banks, the firm continues to play a pivotal role in the global economy, shaping the destinies of businesses and investors alike.

Despite its secretive nature, Lazard Frères & Co. remains a fascinating entity, its history and operations shrouded in a veil of mystery that only adds to its intrigue and allure.

The Last Tycoons: The Secret History of Lazard Freres & Co.

by William D. Cohan

4.3 out of 5