Christina Kennedy
About Christina Kennedy
Christina Kennedy (born 1990) is Chief Financial Officer (since September 2024) and Treasurer (since April 2022) of Lazard Global Total Return and Income Fund, Inc. (LGI). She is a Senior Vice President at Lazard Asset Management (LAM), the Fund’s investment manager; previously she was a Senior Fund Accountant at Gates Capital Management (2016–2019) . LGI is a registered closed‑end fund under the 1940 Act whose day‑to‑day operations are conducted by Fund officers and employees of LAM; the Board oversees, while the Audit Committee meets with the Fund’s independent auditor and the Treasurer .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Lazard Asset Management (LAM) | Senior Vice President | Jan 2023 – present | Senior finance leadership supporting LGI and Lazard Fund Complex operations |
| Lazard Asset Management (LAM) | Vice President | Jul 2019 – Jan 2023 | Fund finance and administration responsibilities within Lazard Fund Complex |
| Gates Capital Management Inc. | Senior Fund Accountant | Jul 2016 – Jul 2019 | Fund accounting and NAV/reporting for investment funds |
External Roles
None disclosed in LGI’s 2024–2025 proxy statements .
Fixed Compensation
- LGI’s proxies disclose director compensation but do not disclose compensation amounts for Fund officers; LGI does not have a standing Board Compensation Committee .
- LGI’s bylaws state that, except as otherwise determined by the Board, officers shall not receive any stated salary or other compensation for their services as officers of the Corporation (bylaws provision; in practice Fund officers are employees of LAM) . The Fund’s operations are conducted by Fund officers and employees of LAM, underscoring that operating compensation is typically borne by LAM rather than the Fund .
Performance Compensation
- No disclosures of performance‑based metrics (e.g., revenue growth, TSR, EBITDA, ESG) or bonus/PSU/RSU/option awards for Fund officers are included in the 2024 or 2025 DEF 14A; only director fee tables are provided .
- LGI does not maintain a standing Board Compensation Committee, consistent with the absence of officer pay program disclosures in the proxies .
Equity Ownership & Alignment
| Item | Detail | As of | Source |
|---|---|---|---|
| Directors and officers (group) ownership of LGI common stock | Less than 1% of outstanding | Dec 31, 2024 | |
| Individual officer ownership breakdown (vested/unvested, options) | Not disclosed | — | |
| Stock ownership guidelines / pledging / hedging policies for officers | Not disclosed in proxies | — | |
| Director ownership ranges (for context) | Director ranges disclosed; none held LGI common; Lazard Fund Complex ranges shown | Dec 31, 2024 |
Notes:
- No individual beneficial ownership, pledged shares, or option holdings are disclosed for Ms. Kennedy. Group ownership (directors and officers) is <1% of LGI .
Employment Terms
| Topic | Provision | Source |
|---|---|---|
| Officer term | Officers serve until a successor is elected and qualifies or earlier resignation/removal (also noted in proxy officer footnote) | |
| Removal / resignation | Officers may be removed with or without cause by the Board; resignations effective upon delivery unless stated otherwise | |
| Roles | Bylaws define CFO and Treasurer responsibilities over receipts, disbursements, custody of funds/securities, and authority to endorse and deposit funds | |
| Compensation as officer | Except as otherwise determined by the Board, officers shall not receive any stated salary or other compensation for services as officers | |
| Indemnification | To the maximum extent permitted by Maryland law, indemnification and advancement of expenses for directors/officers; immediate vesting upon election; subject to “disabling conduct” carve‑out | |
| Exclusive forum | U.S. District Court for the District of Maryland (Northern Division) (or Maryland state court if no jurisdiction) is exclusive forum for specified claims; Securities Act claims also assigned to D. Md. |
Additional Context and Governance Touchpoints
- Board oversight and LAM‑led operations: The Board’s role is oversight; day‑to‑day operations are carried out by Fund officers and LAM personnel. The Audit Committee (comprised of all Independent Directors) meets with the Fund’s independent auditors and the Fund’s Treasurer .
- Meeting cadence: In FY2024 the Board met seven times; the Audit Committee met four times, underscoring regular financial oversight touchpoints for the Treasurer/CFO function .
Investment Implications
- Pay-for-performance alignment: LGI does not disclose officer compensation, incentive metrics, or equity awards for Ms. Kennedy in its proxies, and the Fund lacks a standing compensation committee. Combined with bylaws specifying no officer pay from the Fund unless otherwise determined, her cash/equity incentives are likely set by LAM rather than LGI, limiting transparency into pay-for-performance alignment at the Fund level .
- Insider selling pressure: There are no disclosures of officer stock awards, options, vesting schedules, or pledging; directors and officers as a group own <1% of LGI shares, suggesting low direct “skin in the game” at the Fund level and minimal structural selling pressure from scheduled vests .
- Retention and contracts: No employment agreements, severance, or change‑of‑control terms for Ms. Kennedy are disclosed in LGI filings. As an LAM employee serving as LGI’s CFO/Treasurer, retention risk and incentives likely reside within LAM’s compensation framework rather than LGI, which investors cannot evaluate from LGI’s proxy .
- Governance safeguards: Strong indemnification/advancement provisions and exclusive forum clauses are typical for Maryland‑domiciled funds and support officer protection, but do not provide insight into incentive alignment or performance accountability for Ms. Kennedy .
- Bottom line: For trading or governance signals tied to Ms. Kennedy specifically, current LGI disclosures provide limited insight. Monitoring LAM-level disclosures (if available), Audit Committee reports and fund performance reports, plus Section 16 filings (if any), would be necessary to assess incentive alignment, retention risk, and potential insider activity going forward .