Lazard makes the crisis pay

24 May 2012

Not many banks can boast of a profitable time in Greece, but Lazard is one. Having been handsomely paid for its highly sensitive government advisory mandate, it has become the go-to firm for other troubled administrations. That’s just as well, considering the poor health of the M&A market, as David Rothnie writes.

Whatever the fallout from the potential exit of Greece from the euro, Lazard will be one of the very few banks to have turned a profit from the crisis. While Europe’s M&A market has been hammered by the crisis, the firm’s global sovereign advisory group has been generating ...

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