Asset Management PerformanceThis transition comes at a time when LAZ Asset Management is already showing some signs of inflection, with +$4.6B of net flows in June and +$4.5B in July, following 7 years of consecutive net annual outflows.
EarningsThe average and end-of-period assets under management exceeded consensus estimates by 3.3% and 5.9%, respectively, which is seen as a positive indicator for earnings.
LeadershipChristopher Hogbin is appointed CEO of Lazard Asset Management, effective immediately.