Lazard CEO Kenneth Jacobs Interview With Judy Woodruff. 

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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

Flaton, Formerly at Lazard, Joins Zolfo Cooper

By: Emily Glazer

Carol Flaton, most recently a Lazard banker specializing in restructurings, has moved to turnaround firm Zolfo Cooper LLC to help strengthen its advisory practice.

Ms. Flaton, 49, started as managing director at New York-based Zolfo Cooper, which has about 50 people.

“I’ve known the guys for 15 years,” she said of people she’s worked with at Zolfo. “The middle of the night conference room negotiations either on my side or against it – the mettle is tested.”

The closely held firm had an advisory practice since it was founded in 1985. It advised restaurant chain Friendly’s and creditors in American Airlines Inc. and Eastman KodakKODK -0.40%. Zolfo Cooper also worked on Enron Corp.’s bankruptcy and film studio Metro-Goldwyn-Mayer Studios Inc. before and during its bankruptcy proceedings.

The firm has an “interim management” business, where its executives serve as chief restructuring officers, a temporary role to improve companies’ operations in distressed situations.

Ms. Flaton most recently served as a managing director in Lazard’s restructuring advisory group until this past fall. She worked on situations including real estate finance company Capmark Financial Group Inc.CPMK -8.54%, telecommunications firm LightSquared Inc. and energy producer Dynegy Inc.

Among other prior roles, Ms. Flaton worked on creditor-side advisory work at CitigroupInc.C -0.79% and spent roughly a decade at Credit Suisse Group AG, including a five-year stint in Europe.