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Peter Orszag

Chief Executive Officer (CEO) at Lazard
Board
Since October 1, 2023
Age
56 years
Tenure
Joined Lazard in May 2016 as Vice Chairman of Investment Banking and advanced through roles including Global Co-Head of Healthcare, Head of North American Mergers & Acquisitions, and CEO of Financial Advisory before being appointed CEO on October 1, 2023 and Chairman in January 2025.

Also at Lazard

AS
Alexandra Soto
Chief Operating Officer of Lazard, Inc. and Lazard Group
ELR
Evan L. Russo
Chief Executive Officer of Lazard’s Asset Management business
MAB
Mary Ann Betsch
Chief Financial Officer

About

Peter Orszag is a seasoned executive with extensive experience in both the public and private sectors. He has held key roles in government and corporate finance, including serving as Director of the Office of Management and Budget and the Congressional Budget Office, as well as a senior leadership position at Citigroup.

He joined Lazard in May 2016 as Vice Chairman of Investment Banking and quickly progressed through significant roles such as Global Co-Head of Healthcare, Head of North American Mergers & Acquisitions, and CEO of Financial Advisory.

In his current role, he has been serving as Chief Executive Officer since October 2023, and he was named Chairman in January 2025. His strategic vision and leadership have been key in driving Lazard's growth and operational excellence.

$LAZ Performance Under Peter Orszag

Past Roles

OrganizationRoleDate RangeDetails
LazardChief Executive Officer of Financial AdvisoryJune 2019 - September 2023Former LAZ leadership role
LazardHead of North American Mergers & AcquisitionsFrom July 2018Former LAZ leadership role
LazardGlobal Co-Head of HealthcareFrom November 2016Former LAZ leadership role
LazardVice Chairman of Investment BankingJoined May 2016Former LAZ leadership role
CitigroupVice Chairman of Corporate and Investment Banking; Chairman of Financial Strategy and Solutions GroupJanuary 2011 - February 2016Held dual roles
Obama AdministrationDirector of the Office of Management and BudgetJanuary 2009 - July 2010Former government role
Congressional Budget OfficeDirectorJanuary 2007 - December 2008Former government role

External Roles

OrganizationRoleDate RangeDetails
Peterson Institute for International EconomicsBoard of DirectorsN/ACurrent role
Mt. Sinai Medical CenterBoard of DirectorsN/ACurrent role
National Academy of MedicineMemberN/ACurrent role

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Salary$900,000 2024 AnnualBase salary for 2024
Stock Awards – RSUs$6,435,562 Granted on March 12, 2024; Vest on/around March 12, 2027168,206 units awarded; subject to service-based conditions
All Other Compensation$160,194 2024Includes Life & Long-term Disability Insurance Premiums ($2,914), 401(k) Matching Contributions ($13,800), Interest on Capital Accounts ($106,826), and other benefits ($36,654)

Performance Compensation

Data from  FY 2024

Performance Compensation Details

ComponentDollar Amount / Share ValuePerformance Metric / ConditionVesting / Evaluation ScheduleAdditional Details
Annual Cash Incentive Bonus$3,900,000 Based on company results: adjusted net revenue of $2,890 million (+18%), adjusted net income of $244 million, EPS of $2.34 Paid in 2024Part of a total performance incentive award of $14.1 million (94% of total 2024 compensation)
Performance-based Stock Awards – PIPRs$10,200,000* (implied value); 168,206 units Must satisfy the Minimum Value Condition within 5 years; subject to service-based conditions and require employment through March 15, 2028 Vests on/around March 12, 2027Grant Date: March 12, 2024; Grant Date Fair Value: $6,435,562; represents future performance link and retention incentives

*Note: The approximate dollar value of the PIPRs is derived by subtracting the annual bonus from the total performance incentive compensation.