October 31, 2019 / 12:40 PM / 9 months ago

Lazard axes 200 jobs after business review

NEW YORK (Reuters) - Investment bank Lazard (LAZ.N) has axed about 200 employees after a review of its business, Chief Financial Officer Evan Russo said on Thursday.

“In the third quarter we conducted a review of our business that resulted in a realignment, including employee reductions and the closing of sub-scale offices and investment strategies,” Russo said on a call with investors after the bank’s third-quarter.

“The employee reductions involve approximately 200 people across financial advisory, asset management and corporate functions.”

Reporting by Joshua Franklin in New York; Editing by David Goodman

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