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Tuesday, 07 February 2012
Lazards Disappoints
Lazards posted a disappointing set of numbers as a result of the eurozone turmoil and the consequential fall in the number of corporate deals.
The bank recorded a loss of $ 4.79 million for the quarter compared to a profit of $ 99 million for last year.
Advisory revenues fell 26 per cent to $ 260 million with asset management revenues falling by 20 per cent to $ 260 million.
It was interesting to note that Lazards maintained compensation levels as it seeks to retain staff.
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