Peter Harrison - Director | Lazard (LAZ) Executive Profile & Compensation

About Peter Harrison

Peter Harrison (age 59) is an Independent Director of Lazard, Inc., appointed in March 2025; he serves on the Audit Committee and the Workplace and Culture Committee and is deemed independent under NYSE and Lazard standards . He is the former Group CEO of Schroders plc (2016–2024) and previously held senior roles at RWC Partners, Deutsche Asset Management, Newton Investment Management, and Flemings/JP Morgan; he also holds multiple governance and industry roles in the U.K. and globally .

Past Roles

Organization	Role	Tenure	Committees/Impact
Schroders plc	Group CEO	Apr 2016–Nov 2024	AUM more than doubled to over £750B under leadership; evolution into private markets and wealth JV with Lloyds
Schroders plc	Board Member	Appointed May 2014	Board-level governance and strategy
RWC Partners	Chairman & CEO	Not disclosed	Asset management leadership
Deutsche Asset Management	Global Chief Investment Officer	2004–2006	Oversight of various asset management businesses
Newton Investment Management	Portfolio Manager	Not disclosed	Investment management
Flemings/JP Morgan	Portfolio Manager	Not disclosed	Investment management

External Roles

Organization	Role	Tenure	Notes
UK Treasury Asset Management Taskforce	Member	Current	Industry policy engagement
UK Investment Association	Board Member; prior Chair	Current	Trade association governance
UK Capital Markets Industry Taskforce	Member	Current	Market development advocacy
Business in the Community (King’s responsible business charity)	Chair	3-year term concluding 2027	Responsible business leadership
FCLT Global	Board Director	Current	Long-term capital governance
Antler (VC)	Advisory Board member	Current	Venture ecosystem advisory
Harvard University Impact Board	Advisory Board member	Current	Impact investing advisory

Board Governance

Committee assignments: Audit Committee (member since March 2025) and Workplace and Culture Committee (member since March 2025) .
Independence: Lazard reports 8 of 9 directors are independent, and all committees are entirely independent; Harrison is listed as Independent .
Audit Committee responsibilities include financial statement integrity, auditor oversight, internal audit performance, major financial risk exposures, cybersecurity oversight, and compliance; all members are financially literate (Harrison meets this standard) .
Workplace and Culture Committee oversees culture, inclusion, and workforce development; all members are independent .
Attendance: Board held 10 meetings in 2024; overall director attendance averaged over 95%; each current director attended at least 86% of applicable meetings (Harrison joined in 2025, so 2024 attendance not applicable) .
Leadership context: CEO and Chair combined (Peter R. Orszag), with a strong Lead Independent Director (Dan Schulman) to balance management influence .

Fixed Compensation

Component	Amount	Mix/Mechanics	Timing
Annual cash retainer	$126,000	Cash	Quarterly around Feb 15, May 15, Aug 15, Nov 15
Annual DSUs grant	$154,000	Equity (deferred stock units)	Granted on or about June 1 each year; initial grants for new directors are prorated
Committee chair fee (non-Audit)	$20,000	45% cash / 55% DSUs	Annual
Audit Committee chair fee	$30,000	45% cash / 55% DSUs	Annual
Committee member fee (non-Audit)	$15,000	45% cash / 55% DSUs	Annual
Audit Committee member fee	$20,000	45% cash / 55% DSUs	Annual
Lead Independent Director fee	$50,000	45% cash / 55% DSUs	Annual
Fee deferral election	Varies by election	Directors may elect to receive additional DSUs in lieu of cash	Quarterly DSUs based on prior-day NYSE close
DSU settlement & dividends	One-for-one conversion to common stock after Board service ends; dividend equivalents paid in cash at dividend timing	Equity alignment & long-term horizon	Post-service settlement

Harrison will receive compensation pursuant to Lazard’s independent director program (proration applicable for initial grants); no Harrison-specific dollar grants are disclosed yet .

Performance Compensation

Element	Performance Metrics	Award Type	Notes
Non-employee director equity	None disclosed; DSUs are not tied to operational/TSR metrics	DSUs	No PSUs/options for directors disclosed; DSUs settle post-service and include dividend equivalents

Other Directorships & Interlocks

Company/Organization	Role	Potential Interlock/Conflict Consideration
Schroders plc	Former CEO; Board member since 2014	Asset management industry overlap; no Lazard-related transactions disclosed specific to Harrison
FCLT Global; Business in the Community; UK Investment Association; UK Taskforces	Board/Chair/Member	Ordinary course relationships with institutions are assessed under Lazard independence standards; categorical immaterial relationships defined in Annex B .

Lazard’s proxy notes that some directors serve as directors of organizations to which Lazard provides services or makes charitable contributions, in the ordinary course, and some have accounts with Lazard’s Asset Management; independence determinations follow NYSE rules and the Company’s categorical standards .

Expertise & Qualifications

35+ years in investment management; global CEO experience; portfolio management background across UK and global firms .
Financial literacy adequate for Audit Committee membership; Audit Committee members are all financially literate as determined by the Board .
Active governance roles across industry associations and responsible business initiatives (Business in the Community Chair; FCLT Global board) .

Equity Ownership

Holder	Shares of Common Stock (assuming conversion of applicable equity awards)	% of Common Stock Beneficially Owned	% of Voting Power
Peter Harrison	—	* (<1%)	*

DSUs outstanding as of Dec 31, 2024 exclude Harrison (joined March 2025); DSU totals are reported for other directors only .

Governance Assessment

Board effectiveness: Harrison adds deep asset management expertise aligned with Lazard’s strategic emphasis on strengthening and diversifying Asset Management; his appointment was positioned as reinforcing this strategy, a positive signal for investors focused on that segment .
Independence and oversight: Placement on the Audit Committee and Workplace and Culture Committee, both fully independent, supports risk oversight, cybersecurity, and human capital culture—critical areas for investor confidence .
Alignment: Director pay structure emphasizes long-term alignment through DSUs with post-service settlement; directors can defer cash into DSUs, increasing equity exposure .
Attendance: While Harrison’s 2024 attendance is not applicable, overall board/committee attendance exceeded 95% in 2024, indicating an engaged board environment .
Compensation governance: Compensation Committee uses an independent consultant (CAP); CEO attends but decisions rest with independent committee—relevant for pay governance quality .

RED FLAGS

None disclosed specific to Harrison: no related-party transactions, pledging/hedging, option repricings, or low attendance disclosed for him .
Watch items: Given prior leadership in a major asset manager, monitor for any future ordinary-course relationships with organizations linked to Harrison; Lazard’s categorical independence standards set thresholds that mitigate materiality concerns .

Insider Trades

Date	Form	Security	Shares	Price	Notes
—	—	—	—	—	No Harrison Form 4 transactions disclosed in the proxy or appointment 8-K as of March 25, 2025 .

Notes on Director Compensation Program Details

2024 non-employee director DSU annual grant examples: At June 3, 2024 grant, DSU counts and fair values included 4,307 DSUs ($173,271) for several directors; a prorated June 11, 2024 grant for new February 2024 appointees added 1,470 ($59,138) and 1,482 ($59,621) DSUs; Harrison is excluded because he joined in March 2025 .
2024 non-employee director total compensation examples (fees + stock awards) ranged from ~$315,021 to ~$380,766 among directors; Harrison not included for 2024 .