Lazard Q1 Profit Grows 67 Percent on Asset Management
The investment bank reported a first-quarter profit of $101 million as asset management revenue rose 42 percent. Average assets under management reached $266 billion.
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LAZARD INC grew first-quarter profit 67% to $101 million as asset management gains offset slower deal closures. Net revenue rose 17% to $757 million during a period of market volatility and geopolitical tension. Asset management fees provide a predictable revenue floor while the bank waits for a broader M&A recovery.
