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Lazard (LAZ) investor relations material
Lazard UBS Financial Services Conference 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Leadership vision and strategic priorities
New CEO brings three decades of global investment experience and aims to drive Lazard's asset management forward with a focus on delivering, growing, and capitalizing on profitable growth.
Key priorities include improving investment performance, scaling successful products, and enhancing operating margins through cost discipline and product rationalization.
Appointment of a new CIO and COO to strengthen investment oversight and operational efficiency.
Emphasis on leveraging the breadth of the platform and fostering collaboration across investment teams.
AI and technology investments are targeted to improve research, client experience, and operational efficiency.
Growth initiatives and market opportunities
Achieved $8.5 billion in net inflows in 2025 (excluding a large client exit) and nearly $3 billion in January 2026, with positive flows across the US, Europe, and Asia.
Focused on scaling core strategies such as systematic equities, global listed infrastructure, and emerging markets, while exploring new areas in public and private markets and wealth management.
Active ETF business grew from zero to $1 billion AUM across seven products, with plans to expand in the US and Europe.
White space opportunities identified in public markets, private assets, and wealth, with a selective approach to M&A and partnerships.
Intermediary and wealth channels are key growth vectors, supported by investments in field teams and thought leadership, including geopolitical advisory.
Margin improvement and operational efficiency
Margins are below industry average, with a focus on growing high-margin products and rationalizing underperforming, sub-$100 million strategies.
Ongoing review of the product portfolio and cost structure, with new leadership driving process improvements and cost controls.
Global operating model under review to optimize centralization versus localization and unlock efficiencies.
AI expected to automate research, client communications, and back-office tasks, freeing up resources for higher-value activities.
Incremental investments prioritized for front-line distribution and intermediary support to drive sales growth.
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