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Our history

Our history

Lazard is an international financial services firm with over 175 years of expertise in financial advisory and asset management. Its client base includes corporations, institutions, governments, partners, and individuals.


Our approach is based on creating long-term value through conviction-based management, a strong foothold in the real economy supported by a broad international network, and the recognized expertise of our teams.

For several generations, we have been shaping our success with high standards and discretion, combining French expertise with an international outlook. At the heart of our business is a long-term relationship based on trust and durability.”

Sophie de Nadaillac

President of Lazard Frères Gestion

The Lazard Group

Foundation of Lazard Frères & Co

The history of Lazard Frères began in the mid-19th century, when two young brothers from a modest family of Alsatian peddlers left their native village of Frauenberg, in what is now Alsace-Lorraine, to seek their fortune in America.
The brothers, Alexandre and Lazare Lazard, settled in New Orleans, a city full of opportunities and with a large French-speaking community. In 1841, they went into business, buying wholesale in the city and reselling retail in the countryside. Success came quickly. Within a few years, their business had grown enough that they invited their third brother, Simon, to join them.
Although there are few documents from this period, a notarized deed dated 1845 shows that the three Lazard brothers had opened their first store on Frenchmen Street in New Orleans. In 1848, Alexandre, Lazare, and Simon decided to give their partnership a legal framework by drawing up a contract marking the founding of Lazard Frères & Co.
Their business quickly prospered. They were joined by their two younger brothers, Elie and Maurice, as well as several cousins. What had begun as a modest business in New Orleans would soon become a large-scale enterprise.

New Orleans in the 1840s

Founding of Lazard Frères in Paris

In 1851, taking advantage of the California Gold Rush, Simon, Elie, and Maurice decided to settle in San Francisco to open a new store to serve the region's booming economy. Alexandre, meanwhile, went to New York to manage the company's supply chain. Lazare, the eldest of the brothers, then retired from the business.
Three years later, in 1854, Alexandre returned to France and established Lazard's first office in Paris, overseeing the export of “refined goods,” mainly French luxury fashion, to meet growing demand in San Francisco. Simon soon joined him, and in 1858, the two brothers officially founded the first Lazard Frères company in France.
This turning point marked a decisive moment for the company, which internationalized and diversified, becoming a key player in both Europe and the United States. Through their boldness and vision, the Lazard brothers transformed their initial business into a business empire.

1870, buildings after the bombardment during the siege of Paris.

Development of asset management in New York

In 1953, Lazard took a strategic turn by launching its asset management activities in London. This expansion marked the beginning of a new era for the bank, which, by opening its doors to new horizons, affirmed its desire to become more involved in global financial markets. At the same time, Lazard launched a private wealth management business in New York, followed by its first mutual fund in 1958.
During the 1960s, Lazard Paris entered the asset management market by launching a private wealth management business.
In 1970, a major milestone in Lazard's history was reached with the official creation of Lazard Asset Management in New York, the company now registered with the SEC. This development marked a turning point in the bank's history, which, by diversifying its activities, became a key player in global finance.

1970, New York, Manhattan

Creation of Lazard Frères Gestion in Paris

The late 1980s and early 1990s were marked in France by a modernization of the financial sector, accompanied by significant regulatory changes. The management of SICAVs and FCPs now had to be carried out within what would later be referred to as “management companies” (Law No. 89-531 of August 2, 1989 on the security and transparency of the financial market). On October 31, 1989, Lazard created Somargest, short for “Société de Marchés et de Gestion” (Market and Management Company), dedicated to managing Lazard's UCITS in France, while private clients continued to be managed within the main entity of the Lazard group.
At the same time, regulations soon required a separation between financial advisory and investment activities to avoid any risk of conflicts of interest: this was the emergence of the “Chinese wall.” As Lazard was engaged in both businesses, the asset management activity (including private and institutional management) had to be housed in a separate entity from the investment banking activity.
On September 29, 1995, Lazard Frères Gestion-Banque was created, which in 1997 took the name Lazard Frères Gestion .“ For the sake of simplification, Lazard Frères Gestion and Somargest merged in 2004: only the name ”Lazard Frères Gestion" was retained, and LFG became a simplified joint-stock company (SAS), a status it retains to this day.

Merger of the three houses

In 2000, Lazard undertook a historic reorganization by merging its three main entities: Lazard Frères & Co. in Paris, Lazard Brothers in London, and Lazard Frères & Co. LLC in New York. This merger, orchestrated under the leadership of Michel David-Weill, aimed to strengthen the integration and cohesion of the group's operations, while consolidating its position in the international market. By unifying these separate entities, Lazard was able to offer a more coherent and harmonized range of financial services to its clients, from merger and acquisition advisory to asset management. This restructuring marked a crucial step in Lazard's history, enabling the institution to better capitalize on its strengths and respond more effectively to the needs of its clients around the world.

Lazard's IPO on the New York Stock Exchange

In May 2005, Lazard reached a major milestone in its history when it was listed on the New York Stock Exchange. This IPO, made possible by the merger of the three Lazard firms five years earlier, aimed to complete the modernization of the company's structure by strengthening it and opening up its capital to public investors for the first time in more than 150 years of existence.

Lazard's initial public offering on the New York Stock Exchange.