- Lazard Ltd (NYSE:LAZ) CEO, Ken Jacobs, is anticipated to resign from his post for undisclosed reasons.
- As per the sources, Jacobs will continue to work with clients at Lazard post-resigning.
- Peter Orszag, head of the investment bank’s financial advisory division, was named the replacement, reported Reuters.
- Orszag had earlier worked as the head of North America M&A at Lazard and was employed at Citigroup before that.
- Last month, the company reported a Q1 adjusted loss per share of $0.26 vs. consensus EPS of $0.26 and revenue of $527.0 million, missing the consensus of $562.5 million.
- Lazard also disclosed its intention to cut headcount by about 10% of the workforce throughout 2023 as a part of cost-saving initiatives.
- As of April 30, 2023, Lazard had assets under management of around $234.6 billion.
- Price Action: LAZ shares closed higher by 0.56% at $28.72 on Thursday.
ZTO Express (Cayman) Q4 EPS $0.39 Beats $0.38 Estimate, Sales $1.43B Miss $1.47B Estimate
ZTO Express (Cayman) (NYSE:ZTO) reported quarterly earnings of $0.39 per share which beat the analyst consensus estimate of $0.38 by 2.63 percent. This is a 14.71 percent increase over earnings of $0.34 per share from
