NYSEFinancialsDiversified Capital MarketsS&P SmallCap 600
$38.31
-0.22 (-0.57%)
Close of Nov 06, 2026 · end-of-day data
LAZ 8-K filings, explained
Every material Form 8-K Lazard has filed with the SEC since January 30, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Lazard filed a prospectus supplement covering the possible resale of up to 9,416,817 common shares issued to sellers in its previously announced acquisition of Campbell Lutyens Holdings Limited. The filing is administrative and sets up potential sales of these shares by the selling stockholders, which could add to the number of shares available in the market.
Prospectus supplement under Rule 424(b) filed November 6, 2026, covering up to 9,416,817 shares of common stock
Sullivan & Cromwell LLP opinion on share validity filed as Exhibit 5.1
Lazard, Inc. has completed its acquisition of Campbell Lutyens and launched Lazard CL, a combined private capital advisory business. The transaction expands Lazard's private capital advisory and secondary fundraising capabilities, with management anticipating approximately $500 million in combined revenue in 2027.
The acquisition closed on November 2, 2026, establishing Lazard CL as a combined private capital advisory business.
Lazard CL anticipates generating approximately $500 million in combined revenue in 2027.
The business brings together more than 300 advisory professionals across 19 offices globally.
The companies have collectively advised on more than $1 trillion of primary capital raised and secondary transaction volume over the past four decades.
Lazard reported third-quarter 2026 U.S. GAAP net revenue of $814 million, up 9% from a year earlier, with record Financial Advisory revenue for the quarter. Net income attributable to Lazard fell 59% to $29 million, and diluted earnings per share fell 60% to $0.26, so higher revenue did not carry through to shareholder profit.
Q3 2026 GAAP net revenue was $814 million, up 9% from $748 million; adjusted net revenue was $805 million, up 11%.
Q3 2026 GAAP diluted EPS was $0.26 versus $0.65; adjusted diluted EPS was $0.36 versus $0.56.
Nine-month 2026 GAAP net revenue was $2,378 million, up 8%, while diluted EPS was $1.20 versus $1.72.
A quarterly dividend of $0.50 per share was declared October 21, 2026, payable November 13, 2026.
Michael Gathy told Lazard on October 12, 2026 that he will resign as Chief Accounting Officer and principal accounting officer to pursue other opportunities, effective December 11, 2026. CFO Tracy Farr will take on the principal accounting officer role on that date, at no additional compensation, so the change is an executive transition in the accounting function rather than a change in company financial results.
Gathy informed the company on October 12, 2026 and resigns effective December 11, 2026
CFO Tracy Farr will assume the principal accounting officer role as of the effective date
Farr will receive no additional compensation for the added role
The filing reports no arrangements with other persons or related-party transactions for Farr
Lazard reported second-quarter 2026 net revenue of $808 million, up 1% from a year earlier, while U.S. GAAP net income fell 91% to $5 million, or $0.03 per share diluted. The company cited an elevated tax rate and said adjusted net income was $13 million, or $0.12 per share. The board also declared a $0.50 quarterly dividend and authorized an additional $200 million in share repurchases.
Net revenue $808 million vs. $796 million a year earlier; Financial Advisory fell 9% to $450 million while Asset Management rose 20% to $351 million.
U.S. GAAP diluted EPS $0.03 vs. $0.52 in Q2 2025; adjusted diluted EPS $0.12 vs. $0.52.
On July 22, 2026, the board authorized $200 million in additional buybacks and declared a $0.50 per share dividend payable August 14, 2026 to holders of record on August 3, 2026.
Cash and cash equivalents were $1,100 million as of June 30, 2026.
Lazard, Inc. said director Andrew M. Alper retired from its Board, including all committees, effective July 7, 2026, and that Kathy Elsesser, a former Goldman Sachs partner, joined the Board the same day. Ms. Elsesser was also appointed to the Compensation Committee and will chair it once Mr. Alper's retirement takes effect. The filing describes the retirement as not the result of any disagreement with the company.
Andrew M. Alper retired from the Board and its committees, effective July 7, 2026, after more than 13 years of service.
Kathy Elsesser joined the Board effective July 7, 2026, after the Board elected her on July 2, 2026.
Ms. Elsesser joined the Compensation Committee and will chair it upon Mr. Alper's retirement.
Ms. Elsesser also serves on the Board of TPG Inc. and retired from the Goldman Sachs Partnership in 2023.
Lazard, Inc. agreed to acquire all issued share capital of Campbell Lutyens Holdings Limited under a Sale and Purchase Agreement dated April 30, 2026, with total transaction consideration of $575 million. The company said part of the consideration will be paid in Lazard common stock, which will be issued in an unregistered sale, and that the deal is expected to be accretive to 2027 earnings and thereafter; closing is expected in the second half of 2026, subject to regulatory approvals.
Total transaction consideration of $575 million: $460 million initial and $115 million deferred
Up to $85 million additional consideration tied to defined performance criteria over a multi-year period
Stock makes up part of the consideration, and a material portion of the stock is subject to a lock-up of up to 3 years
Expected to close in the second half of 2026, subject to regulatory approvals and other customary closing conditions
Lazard reported first-quarter 2026 U.S. GAAP net revenue of $757 million, up 17% from a year earlier, and GAAP diluted EPS of $0.91, up from $0.56. On an adjusted basis, net revenue rose 5% to $673 million, but adjusted diluted EPS fell 25% to $0.42, with Financial Advisory revenue down and Asset Management revenue up. Shareholders also get a quarterly dividend of $0.50 per share and an announced agreement to acquire Campbell Lutyens, expected to close in the second half of 2026.
GAAP net income was $101 million, or $0.91 per diluted share, versus $60 million, or $0.56, a year earlier; the filing cites a non-cash gain on the Edgewater management vehicles sale within GAAP net revenue.
Adjusted net income was $47 million, or $0.42 per diluted share, down from $60 million, or $0.56, a year earlier.
Financial Advisory net revenue was $360 million, down 2% year-over-year; Asset Management net revenue was $410 million, up 42%.
Board declared a $0.50 quarterly dividend, payable May 22, 2026, to holders of record on May 11, 2026.
Lazard, Inc. appointed Tracy Farr, a Managing Director in its Capital Structure Advisory group, as Chief Financial Officer effective February 1, 2026. Mary Ann Betsch steps down as CFO and serves as Senior Advisor to the CEO through June 30, 2026, when her service ends. The filing reports no financial results; the press release says fourth quarter and full year 2025 results were announced the same day, but the figures are not included in this filing.
Farr's salary rises to $750,000 and he is eligible for a discretionary annual bonus set by the Compensation Committee.
Betsch will receive a full 2025 annual bonus equal to her 2024 bonus, but no pro rata bonus for 2026.
Lazard expects deferred incentive awards originally due to vest March 1, 2026 to vest and settle on one or more earlier dates in February 2026.
Farr must give three months' written notice to terminate his employment.
Lazard reported fourth-quarter 2025 net revenue of $907 million, up 11% from a year earlier, while U.S. GAAP net income fell 42% to $50 million. Adjusted diluted EPS rose 3% to $0.80, and the company also named Tracy Farr as Chief Financial Officer. The mixed results matter to shareholders because GAAP earnings declined even as revenue grew.
Q4 2025 U.S. GAAP net revenue was $907 million, up 11%; full-year net revenue was $3,099 million, up 2%
Q4 2025 U.S. GAAP diluted EPS was $0.45, down 44%; adjusted diluted EPS was $0.80, up 3%
Full-year 2025 U.S. GAAP diluted EPS was $2.17, down 19%; adjusted diluted EPS was $2.44, up 4%
Tracy Farr was appointed Chief Financial Officer; a quarterly dividend of $0.50 per share was declared, payable February 20, 2026
Lazard reported third-quarter 2025 results, with GAAP net revenue of $748 million, down 5% from a year earlier, and adjusted net revenue of $725 million, up 12%. GAAP diluted EPS was $0.65, down 36%, while adjusted diluted EPS was $0.56, up 47%, so the headline measures point in different directions depending on the basis used.
GAAP net income was $71 million, or $0.65 per diluted share, versus $108 million, or $1.02, in Q3 2024.
Adjusted diluted EPS was $0.56, versus $0.38 in Q3 2024; Financial Advisory adjusted net revenue rose 14% to $422 million.
Adjusted compensation ratio was 65.5% versus 66.0% a year earlier; the company declared a $0.50 quarterly dividend payable November 14, 2025.
Lazard, Inc. said Christopher Hogbin, formerly Global Head of Investments at AllianceBernstein, will become CEO of Lazard Asset Management, succeeding Evan Russo, who moves to a Senior Advisor role to the Chief Executive Officer until June 30, 2026. The filing describes a leadership change in one business line, with no financial results or guidance included.
Evan Russo's CEO role ends on or around December 1, 2025, and no later than December 31, 2025; his service ends June 30, 2026.
Christopher Hogbin's start date is to be mutually agreed, but no later than January 30, 2026; the press release says effective December 2025.
Russo's transition agreement is dated September 7, 2025; Hogbin's offer letter is dated September 3, 2025.
Russo will keep his base salary and equity award vesting during the advisory period, and his severance is calculated as if he left December 31, 2025.
Lazard, Inc. said its board elected Dmitry Shevelenko, Chief Business Officer of AI company Perplexity, as a director effective September 2, 2025. He has not yet been named to any board committee, and the filing says he will receive standard non-employee director compensation.
Board elected Dmitry Shevelenko on August 28, 2025; he joins effective September 2, 2025
Shevelenko is Chief Business Officer of Perplexity and previously held senior roles at Uber, LinkedIn, and Meta
He has no committee assignments yet; CEO and Chairman Peter R. Orszag said his AI experience will support the firm's tech-enabled strategy
Lazard Group LLC, a subsidiary of Lazard, Inc., completed a $300 million offering of 5.625% senior notes due August 1, 2035, guaranteed by Lazard, Inc. The company said it will use the net proceeds to repurchase its 3.625% notes due 2027 through a cash tender offer, with the remainder for general corporate purposes. The filing adds $300 million of long-term debt, while the 2027 notes are being refinanced.
$300 million aggregate principal of 5.625% senior notes due August 1, 2035, with interest payable February 1 and August 1 starting February 1, 2026
Tender offer for 3.625% notes due March 1, 2027 set total consideration of $991.89 per $1,000 principal amount, plus accrued interest
Tender offer expired at 5:00 p.m. New York City time on August 1, 2025; the filing does not state how much principal was tendered
Notes are senior unsecured obligations of Lazard Group, rank equally with its other senior unsecured debt, and are guaranteed by Lazard, Inc.
Lazard reported second-quarter 2025 results on July 24, 2025. GAAP net revenue rose 16% to $796 million and GAAP diluted EPS rose 6% to $0.52, with Financial Advisory driving most of the growth. Adjusted diluted EPS was flat at $0.52, and average AUM fell 3% year over year to $239 billion, so shareholders saw higher revenue but little change in adjusted per-share profit.
GAAP net revenue was $796 million, up 16% from $685 million in Q2 2024; adjusted net revenue was $770 million, up 12%.
Net income attributable to Lazard was $55 million, or $0.52 per diluted share, compared with $0.49 a year earlier; adjusted diluted EPS was flat at $0.52.
Financial Advisory net revenue was $497 million, up 21%; Asset Management net revenue was $292 million, up 2%.
The board declared a quarterly dividend of $0.50 per share on July 23, 2025, payable August 15, 2025, to holders of record on August 4, 2025.
Lazard reported first-quarter 2025 results on April 25, 2025. U.S. GAAP net revenue fell 15% from a year earlier to $648 million, while GAAP net income rose 69% to $60 million, or $0.56 per diluted share. On an adjusted basis, diluted EPS fell 15% to $0.56 from $0.66, and the company declared a $0.50 quarterly dividend.
Net revenue of $648 million was down 15% from $765 million; adjusted net revenue of $643 million was down 14%.
U.S. GAAP net income of $60 million, or $0.56 per diluted share, compared with $36 million, or $0.35, a year earlier; adjusted diluted EPS was $0.56 versus $0.66.
Ending assets under management were $227 billion at March 31, 2025, down 9% from $250 billion a year earlier.
Quarterly dividend of $0.50 per share, payable May 16, 2025, to holders of record on May 5, 2025.
Lazard, Inc. elected Peter Harrison to its Board of Directors effective March 3, 2025, and he will serve on the Audit and Workplace and Culture Committees. Harrison previously served as Group CEO of Schroders plc from 2016 until his retirement in 2024, and the company says his asset management experience will support its strategy to strengthen that business.
Peter Harrison joined the Board effective March 3, 2025.
He will serve on the Audit and Workplace and Culture Committees.
Harrison was Group CEO of Schroders plc from 2016 until retiring in 2024; the filing says Schroders' assets under management more than doubled to over £750 billion under his leadership.
He will receive compensation under the company's independent directors' program, described in its March 21, 2024 proxy statement.
Lazard reported full-year 2024 U.S. GAAP net revenue of $3,052 million, up 21% from 2023, and net income of $280 million, or $2.68 per diluted share, compared with a 2023 loss of $0.90 per share. Fourth-quarter 2024 net revenue was $817 million, up 1%, and fourth-quarter diluted EPS was $0.80, up 23%. The company also declared a $0.50 quarterly dividend and said it may accelerate some employee deferred incentive award vesting into February 2025.
Full-year 2024 Financial Advisory net revenue was $1,756 million, up 27%; Asset Management net revenue was $1,187 million, up 3%.
Full-year 2024 adjusted diluted EPS was $2.34, compared with $0.77 in 2023; fourth-quarter adjusted diluted EPS was $0.78, compared with $0.66.
Lazard declared a quarterly dividend of $0.50 per share on January 29, 2025, payable February 21, 2025, to holders of record on February 10, 2025.
Ending AUM was $226 billion at December 31, 2024, down 8% from December 31, 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Lazard filing is on SEC EDGAR ↗. 8-K briefs of other companies →