Lazard Ltd. (LAZ) to Acquire Remaining MBA Lazard Stake
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Lazard Ltd (NYSE: LAZ) announced the acquisition of the remaining 50 percent of MBA Lazard, its Financial Advisory business in Latin America outside Brazil and Mexico.
The integration of offices in Buenos Aires, Santiago, Bogota, Lima and Panama City with Lazard operations in the U.S., Canada and Brazil creates the largest network of dedicated financial advisory offices in the Americas, in 15 cities across 8 countries. Matias Eliaschev, former MBA Lazard Managing Partner, has been named CEO, Lazard Latin America ex Brazil and Mexico investment banking, effective immediately.
“We expect to see long-term economic growth in the region and increasing strategic activity both into Latin America and outward globally,” said Alex Stern, Chief Executive Officer of Lazard Financial Advisory. “Our colleagues there are highly respected in their communities and trusted advisors to their clients.”
“The 12-year alliance with Lazard has been a great success, and this step is a natural evolution of our relationship,” said Mr. Eliaschev. “We look forward to working even more closely with Lazard’s senior bankers, and the firm’s unmatched global network of relationships, to serve clients in South and Central America.”
The Lazard Latin American team’s deep bench of senior advisory expertise includes Gregorio Charnas and Santiago Alsina in Argentina; Jose Luis Jeria in Chile; Jaime Bermudez and Natalia Ramirez in Colombia; Maria Jesus Hume in Peru; and Julianne Canavaggio in Panama. Alejandro Reynal, founder and former Chairman of MBA Lazard, will become a Senior Advisor to Lazard.
MBA was established in 1981 as an independent advisory boutique based in Buenos Aires. Lazard and MBA formed an alliance in 2004 to provide cross-border advisory services to Lazard clients investing in Argentina and to MBA clients investing abroad. MBA expanded in South America and in January 2008, the firms reinforced the alliance with Lazard acquiring 50 percent of the MBA Group and rebranding the firm as MBA Lazard.
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