Ashish bhutani lazard biography of rory

The roots of Lazard’s modern-day Asset Management business can be traced to the 1940s, when the firm managed investments for wealthy individuals, especially the leaders of companies that Lazard advised.

This business proved successful, and in 1953, Lazard Investors Limited began operations in London. Lazard Paris began an asset management business in 1969, and one year later, Lazard Asset Management was formed in New York.

A sea change came in 1982.

While Lazard was advising Oppenheimer & Co., Lazard Chairman Michel David-Weill became acquainted with the two executives running Oppenheimer’s institutional money management division, Norman Eig and Herb Gullquist. He recruited them to start an institutional asset management business focusing largely on U.S.

pension funds, which at the time were moving assets en masse from commercial banks to independent money managers.

The mid-1980s brought another fortuitous development: the new