Lazard CEO Ken Jacobs set to step down -source By Reuters

© Reuters. FILE PHOTO: FILE PHOTO: The logo and trading information for Lazard Ltd appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

By Anirban Sen

NEW YORK (Reuters) – Lazard (NYSE:) Ltd chief executive officer Ken Jacobs is expected to step down from his role and be replaced by Peter Orszag, who currently runs the investment bank’s advisory unit, a person familiar with the matter said on Thursday.

Lazard lead director Richard Parsons (NYSE:) declined to provide details of the succession plan in a statement to Reuters. “We have a succession plan that we have had in place for quite some time and our plan is on track,” he said.

The Wall Street Journal first reported on the succession.

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