Naguib Kheraj Joins Lazard as CEO of Lazard International

LONDON--()--Lazard Ltd (NYSE:LAZ) announced today that it has appointed Naguib Kheraj as Chief Executive Officer of Lazard International, a new position, and as a Deputy Chairman of the firm, effective 1 January 2011. Mr. Kheraj, based in London, will serve as a senior member of the global Financial Advisory management team and will take a leadership role in advising large corporates, financial institutions and sovereign funds in Europe, the Middle East and Africa.

“I look forward to Naguib joining Lazard. He has a wealth of relationships, and brings a unique blend of experience in advising corporates and financial institutions, and a track record of success in business leadership roles in the financial services industry,” said Kenneth M. Jacobs, Chairman and Chief Executive of Lazard. "His experience complements our already strong businesses in the UK and in developing markets, as well as our global financial institutions and sovereign fund advisory efforts.”

“Lazard is a great brand and I am delighted to be joining a firm with a strong reputation for providing clients with high quality advice,” said Mr. Kheraj. “I look forward to working with a first rate team of people at one of the leading financial advisory companies in the world.”

Mr. Kheraj was until recently Chief Executive Officer of JPMorgan Cazenove, which was created as a joint venture between Cazenove Group and JP Morgan in 2005. JP Morgan acquired full ownership of the business in early 2010. He was previously a Director and Member of the Group Executive Committee of Barclays PLC, where he served in a number of senior roles over a period of 10 years including Group Finance Director and various business line management positions in Wealth Management, Institutional Asset Management and Investment Banking. Prior to joining Barclays, Mr. Kheraj held senior positions at Robert Fleming and at Salomon Brothers in London where he started his investment banking career in 1986.

Mr. Kheraj is Chairman of the National Committee of the Aga Khan Foundation (UK) and Chairman of the Endowment Committee of the Aga Khan Development Network. He is also a member of the Board of Governors of The Institute of Ismaili Studies, an educational institution which promotes scholarship and learning on Islam, and a Member of the Board of Trustees of the Aga Khan University. Mr. Kheraj serves as a Member of the Investment Committee of Wellcome Trust and as a Member of the Board of the UK-US Fulbright Commission.

Mr. Kheraj has also served as a Senior Adviser to Her Majesty’s Customs and Revenue Service and to the Financial Services Authority in the UK and as a Member of the Development Board of The Prince’s Trust.

About Lazard

Lazard, one of the world’s preeminent financial advisory and asset management firms, operates from 41 cities across 26 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit www.lazard.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements.” In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or “continue”, and the negative of these terms and other comparable terminology. These forward-looking statements are not historical facts but instead represent only our belief regarding future results, many of which, by their nature, are inherently uncertain and outside of our control. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking statements.

These factors include, but are not limited to, those discussed in our Annual Report on Form 10-K under Item 1A “Risk Factors,” and also disclosed from time to time in reports on Forms 10-Q and 8-K including the following:

  • A decline in general economic conditions or the global financial markets;
  • Losses caused by financial or other problems experienced by third parties;
  • Losses due to unidentified or unanticipated risks;
  • A lack of liquidity, i.e., ready access to funds, for use in our businesses; and
  • Competitive pressure.

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Contacts

Lazard Ltd
Media contacts:
Judi Mackey, +1-212-632-1428
judi.mackey@lazard.com
or
Monica Orbe, +1-212-632-6968
Monica.orbe@lazard.com
or
Richard Creswell, +44-207-187-2305
richard.creswell@lazard.com

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Contacts

Lazard Ltd
Media contacts:
Judi Mackey, +1-212-632-1428
judi.mackey@lazard.com
or
Monica Orbe, +1-212-632-6968
Monica.orbe@lazard.com
or
Richard Creswell, +44-207-187-2305
richard.creswell@lazard.com