Publications
Publications
- June 2007 (Revised March 2008)
- HBS Case Collection
Lazard LLC
By: Guhan Subramanian and Eliot Sherman
Abstract
Describes Lazard's situation in 2001, and supplies context for the subsequent negotiation between its Chairman and his hand-picked successor. In 2001 Lazard, the last of the great investment houses to remain both private and in the control of its founding family, is in a state of decline. Infighting throughout the 1990s led to a defection of talent that left many wondering if Lazard could compete with the diversified financial behemoths of the 21st Century. It also left Chairman Michel David-Weill looking for a successor. David-Weill believes he has found one in M&A star Bruce Wasserstein: going into their negotiation, what should Wasserstein's strategy be?
Keywords
Mergers and Acquisitions; Family Business; Talent and Talent Management; Selection and Staffing; Management Succession; Negotiation Tactics; Financial Services Industry
Citation
Subramanian, Guhan, and Eliot Sherman. "Lazard LLC." Harvard Business School Case 907-046, June 2007. (Revised March 2008.)
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