| Bruce Wasserstein | Gerardo Braggiotti | Michel David-Weill | Marcus Agius Merrill Lynch: Four legs good, two legs bad Euromoney January 1996 ... the SEC announced that Merrill had paid it $12 million to settle a dispute over a contract with Lazard Frères that had not been disclosed to Lazard's municipal clients, four Massachusetts public agencies, who were being referred to Merrill as underwriting clients. It appeared, at least, that Merrill had paid Lazard a fee to steer clients its way - when the clients thought they were getting independent advice. Merrill says that as soon as it discovered that Lazard was not disclosing their relationship, it informed the SEC and cancelled the contracts, leading to the recent settlement.... People: Nicolas Rohatyn Euromoney July 1998 The turmoil of transition at Lazard Euromoney January 2001 The secretive partnership of Lazard is not accustomed to public scrutiny, let alone attack from outside. If an independent Lazard is to thrive, it must stem the tide of departures and rebuild morale within. The autocratic aristocrat who divides to rule Euromoney January 2001 External and internal pressures are making Lazard chairman Michel David-Weill's position precarious. But he will leave only with the greatest reluctance. Oblivion looms for Loomis Euromoney November 2001 When a man is down, bankers rarely hesitate to stick in the knife. So the moment Bill Loomis was sacked as Lazard's chief executive by Michel David-Weill out came the stilettos. Ennio Doris: Mediolanum runs political risks Euromoney February 2002 Doris hints that he would not be too displeased if current Lazard vice-chairman Gerardo Bragiotti returned to run Mediobanca, from which he was ousted only a few years back. Bankers in London say that Bragiotti does not relish the prospect of working under Lazard's new American boss Bruce Wasserstein. Arbs' vibes hit New York Euromoney October 2005 Rocktoberfest: The annual event is a chance for hedge fund managers to swap their chinos for Spandex and perform to raise money for charity. Mead Welles, founder of hedge fund Octagon Asset Management, set up Rocktoberfest last year with Chris Heasman, director at Lazard Asset Management. Awards for excellence 2006: Italy Euromoney July 2006 Last year Euromoney speculated on the fate of Lazard’s Italian M&A franchise once its star banker, Gerardo Braggiotti, announced he was leaving, following a falling out with the group’s CEO, Bruce Wasserstein. The result is now all too clear as last year’s winner has fallen from first to 14th place. Bruce Wasserstein Boutiques for sale Euromoney October 1996 WASSERSTEIN PERELLA: Would Wasserstein work for you? By far the biggest name to remain independent is Bruce Wasserstein, chairman of super-boutique Wasserstein Perella, the firm he and fellow First Boston managing director Joe Perella set up in February 1988. Get a life Euromoney April 1998 Unbrotherly conduct ...David-Weill has been beset by succession issues following the departure last year from the bank in France of his son-in-law and one-time heir-apparent, Edouard Stern. In the US, he caused some resentment among the firm's investment bankers by courting two well-known outside deal-makers, Robert Greenhill and Bruce Wasserstein, to come in to run the group. Neither did. People: Bruce Wasserstein Euromoney July 1998 ... A book by Bruce Wasserstein, co-founder of New York M&A boutique Wasserstein Perella, might therefore be expected to be met with scepticism. ... Tears in the boardroom Euromoney October 2000 ... First Boston had its heyday in the 1980s, when men such as Hans-Joerg Rudloff, Bruce Wasserstein and Joe Perella held sway ... Euromoney October 2000 The turmoil of transition at Lazard Euromoney January 2001 The secretive partnership of Lazard is not accustomed to public scrutiny, let alone attack from outside. If an independent Lazard is to thrive, it must stem the tide of departures and rebuild morale within. Bruce breaches Lazard fortress Euromoney December 2001 Speaking to Euromoney in April 1993, Lazard chairman Michel David-Weill expressed a fear of "mercenaries - the people who would come to the firm to make money'. His appointment of Bruce Wasserstein as Lazard's chief executive suggests that he has either overcome his distaste for money-grubbers or that the firm is doing so badly that its very survival depends on having a few more of them on board. ... Ennio Doris: Mediolanum runs political risks Euromoney February 2002 ...Bankers in London say that Bragiotti does not relish the prospect of working under Lazard's new American boss Bruce Wasserstein ... IFL: A start-up with high ambitions Euromoney June 2003 Mendoza told a friend: "I haven't done this to turn around in five years and sell it to somebody else," but that is often what happens with boutiques: James Wolfensohn sold his to Bankers Trust, for instance, and Bruce Wasserstein his to Dresdner. Specialists: Schechter & Co Euromoney September 2003 ... "Bruce Wasserstein had come on board and the whole character of the place was changing," Schechter says of his decision to quit. ... Gerardo Braggiotti Italian banks: First the big mess? Euromoney August 1998 ...Last year Gerardo Braggiotti, widely regarded as the most forward-looking of Mediobanca's management, lost out in an internal power struggle and moved to Lazard Frères in Paris. As one analyst commented at the time: "He is a potential superstar within the Italian restructuring story, and it will be a shame if it is the last we see of him." ... Europe plays the takeover game Euromoney May 1999 ... European M&A boutiques Lazard and NM Rothschild are sometimes belittled by the global integrated investment banks, who say that to stay at the top in the new Europe you need to be – guess what – a global integrated investment bank. But the two aristocratic firms' strong client relationships are helping them to win a number of very valuable deals. Lazard was the top adviser in European M&A in early 1999, working on deals worth e177 billion ($190 billion). The Paris-London-New York firm is doing particularly well in Italy, where recruiting Gerardo Braggiotti, once of Mediobanca, has helped it win mandates including the defence of Telecom Italia and the bid for BCI by UniCredito Italiano.... The sack of Telecom Italia Euromoney July 1999 ... Then Gerardo Braggiotti shows up. Lazard's star player on European M&A has won the family of corporate finance boutiques a slice of the action. ... Mediobanca - The emperor strikes back Euromoney December 1999 ... "Braggiotti wanted stronger market relationships with foreign partners: an alliance with Lazard or an Anglo-Saxon investment bank, something to boost Mediobanca's presence abroad." ... Front end: Arpe quits Mediobanca Euromoney January 2000 Gerardo Braggiotti... was sacked by Maranghi almost two years to the day before Arpe's departure. Braggiotti's sin was challenging Maranghi for the overall leadership of Mediobanca; he now works for Lazard Frères as head of European operations outside France. Vincenzo Maranghi: Mediobanca fights to survive new era Euromoney November 2001 To Maranghi's dismay, his former second-in-command, Gerardo Braggiotti, is fast becoming the most talked about banker in Milan. "Braggiotti is the only true investment banker, the rest of us are amateurs," says the abashed head of corporate finance at a rival house.
Michel David-Weill The turmoil of transition at Lazard Euromoney January 2001 The secretive partnership of Lazard is not accustomed to public scrutiny, let alone attack from outside. If an independent Lazard is to thrive, it must stem the tide of departures and rebuild morale within. The autocratic aristocrat who divides to rule Euromoney January 2001 External and internal pressures are making Lazard chairman Michel David-Weill's position precarious. But he will leave only with the greatest reluctance. Oblivion looms for Loomis Euromoney November 2001 When a man is down, bankers rarely hesitate to stick in the knife. So the moment Bill Loomis was sacked as Lazard's chief executive by Michel David-Weill out came the stilettos. Bruce breaches Lazard fortress Euromoney December 2001 Speaking to Euromoney in April 1993, Lazard chairman Michel David-Weill expressed a fear of "mercenaries - the people who would come to the firm to make money'. His appointment of Bruce Wasserstein as Lazard's chief executive suggests that he has either overcome his distaste for money-grubbers or that the firm is doing so badly that its very survival depends on having a few more of them on board. ... Marcus Agius Team players and star performers Euromoney December 2000 ...mergermarket.com's latest individual rankings, by value of deal, have Simon Robey and Bruce Fiedorek, both of Morgan Stanley Dean Witter, filling the top two spots, with Lou Friedman of Donaldson Lufkin&Jenrette in third place. The rankings by number of deals make more interesting reading and introduce new names, with Carlo Calabria of Credit Suisse First Boston on top and Marcus Agius of Lazard in second place. Big interest in a discarded toy Euromoney June 2004 On Panmure Gordon: "It was an opportunistic deal in the sense that we reached our decision at a time when WestLB wanted to exit," says Marcus Agius, chairman of Lazard in London. Awards for excellence 2006: United Kingdom Euromoney July 2006 Rothschild was also one of the two advisers called in to help BAA on its unsolicited bids from Spain’s Ferrovial and Goldman Sachs by the company’s chairman, Marcus Agius, also chairman of Lazard in the UK. |