Lazard Asset Management LLC (New York)

Name: Lazard Asset Management LLC
Address: 30 Rockefeller Plaza, New York, NY, 10112
Telephone: 212-632-6000

Lazard Asset Management LLC is a large advisory firm based in New York. It manages $140.23 billion of regulatory assets for 8,208 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Lazard Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Lazard Asset Management: assets under management

The assets under management (AUM) of Lazard Asset Management LLC is $140.23 billion. The firm's AUM has grown by 113% since the beginning of its operation, and $37.17 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $139.87 billion in discretionary accounts and $362.89 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $17.06 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $40.32 million.

Lazard Asset Management has custody of $2.69 billion in cash and securities for 509 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 83% of the total AUM. The second-largest asset type is sovereign bonds, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lazard Asset Management LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Kenneth Marc Jacobs serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Kenneth Marc Jacobs is banking or thrift institutions with 208 clients and $30.26 billion of assets under management. Among the 11 most similar advisory firms, Lazard Asset Management has the highest percentage of banking or thrift institutions out of all clients.

The amount of regulatory assets under management is $140.23 billion for 8,208 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Lazard Asset Management also advises several private funds. Namely, twenty three hedge funds and twenty eight other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $5,000,000.

Careers at Lazard Asset Management LLC

The company employs 498 people that are either part- or full-time employees. 54 percent of the employees work as investment advisers or researchers. 9 employees are registered as investment adviser representatives with the state securities authorities.

There are 7 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Kenneth Marc Jacobs has been acting as President since 1 Jun 2010. William Bruce Rosenberg joined the executive team most recently as the Global Head Of Operations & Finance.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Gerald Bruce Mazzari	Coo	1 Oct 2002	Other	1557436
Nathan Abraham Paul	General counsel	1 Oct 2002	Other	4314144
Norman Eig	Director, co-ceo	1 Oct 2002	Other	1094225
Bruce Jay Wasserstein	Director	1 Oct 2002	Other	1460475
Charles Gould Ward	Director	1 Oct 2002	Other	872995
Herbert Williams Gullquist	Co-ceo	1 Oct 2002	Other	231931
John Howard Blevins	Chief compliance officer	1 Oct 2002	Other	1983887
Lazard Freres & Co Llc	Parent	1 Dec 2002	75% - 100%	13-5545100
Ashish Bhutani	Director, ceo	1 Jul 2003	Other	1506496
Robert Peter Deconcini	Director	1 Jul 2003	Other	1313552
Brian David Simon	Chief compliance officer	1 May 2006	Other	1336472
Brian Ken Kawakami	Chief compliance officer	1 Jun 2006	Other	1441148
Brian David Simon	Chief compliance officer	1 Jan 2009	Other	1336472
Kenneth Marc Jacobs	Director	1 Jun 2010	Other	1005407
Alexander Franz Stern	Director	1 Jun 2010	Other	2546284
Mark Richard Anderson	Chief compliance officer	1 Sep 2014	Other	4769151
Nathan Abraham Paul	Chief business officer	1 Apr 2017	Other	4314144
William Bruce Rosenberg	Global head of operations & finance	1 Aug 2018	Other	1722850

Indirect Owners

The SEC currently registers 48 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Societe Immobiliere Marseillaise Sa	Shareholder	1 Jun 1984	25% - 50%	none
Rue Imperiale De Lyon Sa	Shareholder	1 Jun 1984	50% - 75%	none
Societe Civile Haussmann Percier	Shareholder	1 Jun 1984	50% - 75%	none
Maison Lazard Et Cie	Shareholder	1 Jun 1984	50% - 75%	none
Lazard Llc	Sole member	1 Mar 2000	75% - 100%	13-5545100
Malesherbes	General member	1 Mar 2000	25% - 50%	none
Bruno Max Roger	Member-executive board	1 Mar 2000	Other	2209250
Kenneth Marc Jacobs	Member-executive committee	1 Mar 2000	Other	1005407
Credit Agricole	Shareholder	1 Nov 2000	25% - 50%	n/a
Eurazeo	Owner	1 Apr 2001	75% - 100%	none
Michel Alexandre Davidweill	Member of lazard board of lazard llc	1 Jan 2002	Other	603005
Gerardo Braggiotti	Member of lazard board of lazard llc	1 Jan 2002	Other	3098249
Marcus Ambrose Agius	Member of lazard board of lazard llc	1 Jan 2002	Other	1922895
Bruce Jay Wasserstein	Chairman executive committee of lazard llc, head of lazard llc & member of lazard board of lazard llc	1 Jan 2002	Other	1460475
Jean Marie Guyot	Member of lazard board of lazard llc	1 Jan 2002	Other	2321064
Alain Merieux	Member of lazard board of lazard llc	1 Jan 2002	Other	4503933
Francois Alain Voss	Member of lazard board of lazard llc	1 Jan 2002	Other	2321072
Antoine Bernheim	Member of lazard board of lazard llc	1 Jan 2002	Other	4503930
Kenneth Marc Jacobs	Member of management committee of lf&co.	1 Jan 2002	Other	1005407
Michael John Castellano	Member of management committee of lf&co.	1 Jan 2002	Other	2713541
Steven Jeffrey Golub	Member of management committee of lf&co.	1 Jan 2002	Other	1274044
Scott David Hoffman	Member of management committee of lf&co.	1 Jan 2002	Other	2468910
Patrick Georges Pierre Sayer	Member of lazard board of lazard llc	1 Jul 2002	Other	4147923
Charles Gould Ward	Member of management committee of lf&co.	1 Jan 2003	Other	872995
Olivier Merveilleux Du Vignaux	Member of lazard board of lazard llc	1 May 2004	Other	4817969
Lazard Group Llc	Sole member	1 May 2005	75% - 100%	51-0278097
Lazard Ltd	Shareholder	1 May 2005	75% - 100%	98-0437848
Lltd 2 S.A.R.L.	Managing member	1 May 2005	25% - 50%	98-0467514
Lltd Corp Ii	Managing member	1 May 2005	50% - 75%	20-2240387
Lltd Corp I	Shareholder	1 May 2005	75% - 100%	20-2240308
Laz Md Holdings Llc	Member	1 May 2005	50% - 75%	20-2146423
Lazard Group Finance Llc	Managing member	1 May 2005	Other	20-2281724
Vernon E. Jordan	Director lazard group llc	1 May 2005	Other	4142925
Anthony Andrew Orsatelli	Director lazard group llc	1 May 2005	Other	3139854
Bruce Jay Wasserstein	Chairman lazard group llc	1 May 2005	25% - 50%	1460475
Ellis Bradley Jones	Director lazard group llc	1 May 2005	Other	872986
Robert Charles Clark	Director lazard group llc	1 May 2005	Other	1072077
Steven J Heyer	Director lazard group llc	1 Jun 2005	Other	5012481
Lltd 2 S.A.R.L.	Managing member	1 Dec 2005	25% - 50%	98-0467514
Lltd Corp Ii	Managing member	1 Dec 2005	50% - 75%	20-2240387
Lltd Corp I	Shareholder	1 Dec 2005	75% - 100%	20-2240308
Lltd 1 S.A.R.L.	Shareholder	1 Dec 2005	75% - 100%	98-0457321
John Kincaid Shank	Director lazard group llc	1 Jan 2006	Other	5092865
Sylvia Jay	Director lazard group llc	1 Mar 2006	Other	5124014
Michael John Turner	Director lazard group llc	1 Mar 2006	Other	5124006
Hal Stewart Scott	Director lazard group llc	1 Mar 2006	Other	5124473
Ronald J. Doerfler	Director lazard group llc	1 Jun 2006	Other	5170806
Lltd Holding S.A.R.L.	Shareholder	1 May 2017	75% - 100%	98-0457321

Based in New York

The principal office where Lazard Asset Management LLC performs its advisory services is located at 30 Rockefeller Plaza, New York, NY 10112, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-632-6000 or by fax 212-332-1703. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at lazard.com.