Lazard targets $10m per MD by 2028 as it reiterates $500m Lazard CL 2027 revenue plan
Seeking Alpha ·
Earnings Call Insights: Lazard (LAZ) Q2 2026 "Firm-wide adjusted net revenue was $786 million for the second quarter and $1.5 billion for the first half of the year." (CEO & Chairman Peter Orszag) Revenue growth was driven by strong Financial Advisory performance, record asset management inflows, higher AUM, and seasonality expected to favor a stronger second half. Management expects the acquisition to create a leading private capital advisory business and anticipates it will be accretive to earnings in 2027 and beyond, targeting $500 million in revenue contribution. Risks include subdued private equity M&A activity due to valuation challenges, ongoing expenses and compensation ratio uncertainty, and execution/integration risk for the Campbell Lutyens acquisition.
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