Peter Orszag

Chief Executive Officer (CEO) at Lazard Inc

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 Inc

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

Organization	Role	Date Range	Details
Lazard	Chief Executive Officer of Financial Advisory	June 2019 - September 2023	Former LAZ leadership role
Lazard	Head of North American Mergers & Acquisitions	From July 2018	Former LAZ leadership role
Lazard	Global Co-Head of Healthcare	From November 2016	Former LAZ leadership role
Lazard	Vice Chairman of Investment Banking	Joined May 2016	Former LAZ leadership role
Citigroup	Vice Chairman of Corporate and Investment Banking; Chairman of Financial Strategy and Solutions Group	January 2011 - February 2016	Held dual roles
Obama Administration	Director of the Office of Management and Budget	January 2009 - July 2010	Former government role
Congressional Budget Office	Director	January 2007 - December 2008	Former government role

External Roles

Organization	Role	Date Range	Details
Peterson Institute for International Economics	Board of Directors	N/A	Current role
Mt. Sinai Medical Center	Board of Directors	N/A	Current role
National Academy of Medicine	Member	N/A	Current role

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Salary	$900,000	2024 Annual	Base salary for 2024
Stock Awards – RSUs	$6,435,562	Granted on March 12, 2024; Vest on/around March 12, 2027	168,206 units awarded; subject to service-based conditions
All Other Compensation	$160,194	2024	Includes 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

Component	Dollar Amount / Share Value	Performance Metric / Condition	Vesting / Evaluation Schedule	Additional 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 2024	Part 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, 2027	Grant 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.