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Lazard Agrees to Increase Disclosure of Managed Assets
Lazard Ltd. (LAZ), the independent merger adviser that earns about half of its revenue from asset management, agreed to boost disclosures about that business after a request from regulators.
Lazard said it will include tables showing inflows and outflows, as well as changes in market value for specific asset classes, including equities and fixed income, in future filings, according to correspondence between the Hamilton, Bermuda-based company and the Securities and Exchange Commission released today.
Lazard’s revenue from the business climbed 13 percent to $248 million in the third quarter from a year earlier as assets under management surged to a record $176 billion at Sept. 30, according to an Oct. 24 statement. Lazard’s proposed table shows the results were aided by a $9.06 billion appreciation in the market value of managed equities.
Judi Mackey, a spokeswoman for Lazard, declined to comment on the filings.
http://www.bloomberg.com/news/2014-01-10/lazard-agrees-to-increase-disclosure-of-assets-under-management.html
http://player.theplatform.com/p/2E2eJC/embeddedoffsite_prod?guid=n_lw_5gay_131209
Lawrence O’Donnell talks with Michael Griffin, a teacher fired after planning to marry his partner. That partner, Vincent Giannetto, also joins them.
Friday Fun time! Already planning your next vacation as this one draws to a close? Maybe you’ll want to stay in this amazing translucent cabin! http://www.visualnews.com/2013/11/27/translucent-cabin-seemingly-see-cabin-made-wood-mirrors/
VIDEO: Brangelina Wine Earns Number One Spot!
Brad Pitt and Angelina Jolie’s new Rose Miraval wine just been included in Wine Spectator’s 100…
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“It was a solid quarter on both sides of the business,” -
Kenneth Jacobs, CEO of Lazard Ltd
Earlier this afternoon, it was Steve Cohen’s final fall from grace. Now, Bloomberg reports that Brazil’s one time super billionaire, and now negativeworthaire, Eike Batista, whose sprawling petroleum empire was once valued in the tens of billions, is set to file for bankruptcy tomorrow.
Continued
