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Lazard LLC

Reference: HBS-907046-E
Year: 2001
Number of pages: 16
Geographic Setting: New York;France;England
Publication Date: Jun 5, 2007
Fecha de edición: Mar 17, 2008
Source: HBSP (USA)
Type of Document: Case
Industry Setting: Finance & insurance

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Description

Describes Lazard's situation in 2001, and supplies context for the subsequent negotiation between its Chairman and his hand-picked successor. In 2001 Lazard, the last of the great investment houses to remain both private and in the control of its founding family, is in a state of decline. Infighting throughout the 1990s led to a defection of talent that left many wondering if Lazard could compete with the diversified financial behemoths of the 21st Century. It also left Chairman Michel David-Weill looking for a successor. David-Weill believes he has found one in M&A star Bruce Wasserstein: going into their negotiation, what should Wasserstein's strategy be?

Keywords

Executive selection IPO Mergers & acquisitions Negotiation Organizational structure Personnel policies