Banking Turmoil

Lazard Names Peter Orszag as Next CEO

Former Obama administration official to succeed Ken Jacobs, who will become executive chairman

Peter Orszag has run Lazard’s financial-advisory unit since 2019. Photo: Mike Blake/REUTERS

Lazard named Peter Orszag its next chief executive, putting the former Obama administration official at the helm of the storied investment bank as it seeks to recover from a string of setbacks.

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