TITLE

Questions At Lazard

PUB. DATE
November 2004
SOURCE
Investment Dealers' Digest;11/1/2004, Vol. 70 Issue 42, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the motive behind the letter Lazard LLC Chairman Michel David-Weill sent to CEO Bruce Wasserstein. David-Weill, who honed his management skills under master gamesman Andre Meyer before taking over Lazard from Meyer in 1977, has always had mixed feelings about an IPO for his firm. Before agreeing to Wasserstein's plan for an IPO, he reportedly set two conditions that Wasserstein had to meet: a total of $1.6 billion had to go to David-Weill and the nonworking partners, and a majority of partners had to agree that an IPO was the best route for the firm. In the letter Wasserstein was asked to resign.
ACCESSION #
14895164

 

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