Lazard needs a miracle to bring it back to life. People familiar with the firm say that Lazard now has about $300 million in assets under management and a negative net worth. “There’s nothing of value there anymore. The hemorrhaging is too great,” says Tony Chapelle, publisher of Securities Pro, a newsletter about African Americans in finance. “No Band-Aid remedy can save it now.”
Is WR Lazard Out For The Count?
Marianne Spraggins departure casts dark shadow over the firms future