Franci Blassberg
About Franci J. Blassberg
Independent Director (Class III) of Lazard Global Total Return and Income Fund, Inc. (LGI) since August 2014; year of birth 1953 . Of Counsel at Debevoise & Plimpton LLP focused on mergers & acquisitions, private equity, and corporate governance; adjunct professor at Cornell Law School and NYU School of Law; visiting professor at Tel Aviv University (2019) . Serves on several non-profit boards (Secretary and Director, NYC Ballet; Vice Chair and Director, The New School) . She is an Independent Director (not an “interested person” under the 1940 Act) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Debevoise & Plimpton LLP | Partner and Co‑Chair, Private Equity Group (prior to 2013) | Prior to 2013 | Focused on M&A, private equity, corporate governance |
| Debevoise & Plimpton LLP | Of Counsel | 2013 – present | Continued governance-focused legal practice |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Cornell Law School | Adjunct Professor | 2013 – present | Corporate governance/M&A focus |
| New York University School of Law | Adjunct Professor | 2022 – present | Corporate law focus |
| Tel Aviv University, Buchmann Faculty of Law | Visiting Professor | 2019 | International academic engagement |
| NYC Ballet | Secretary and Director | Not disclosed | Governance/arts non-profit board service |
| The New School | Vice Chair and Director | Not disclosed | Higher education governance |
| Lazard Fund Complex (The Lazard Funds, Inc.; Lazard Retirement Series, Inc.) | Director | Ongoing | Directors in LGI also serve as directors across the complex (29 portfolios in 2025; 32 in 2024) |
Board Governance
- Independence: Board has 75% Independent Directors; Blassberg is independent .
- Committee memberships: Audit Committee (all Independent Directors; Blassberg listed as member); Nominating Committee (all Independent Directors) .
- Committee chair roles: Audit Committee Chair is Nancy A. Eckl; Lead Independent Director is Richard Reiss Jr. .
- Board leadership: No Chair; Independent Directors designate a Lead Independent Director .
- Attendance: Each Director attended at least 75% of Board and committee meetings in FY2024 and FY2023 .
| Governance Activity | FY2023 | FY2024 |
|---|---|---|
| Board meetings held | 5 | 7 |
| Audit Committee meetings | 4 | 4 |
| Nominating Committee meetings | 1 | 1 |
| Blassberg attendance | ≥75% | ≥75% |
Fixed Compensation
| Compensation Component | 2023 | 2024 |
|---|---|---|
| Aggregate Compensation from LGI (Fund) | $3,153 | $3,624 |
| Aggregate Compensation from Lazard Fund Complex | $245,000 | $252,500 |
- Notes: Compensation is disclosed as aggregate cash amounts; directors do not receive compensation if “interested” (not applicable to Blassberg) .
Performance Compensation
- No equity awards (RSUs/PSUs), option awards, or performance-based metrics for directors are disclosed; compensation is reported as aggregate amounts only .
- Fund does not have a standing Compensation Committee for the Board .
Other Directorships & Interlocks
- Other public company directorships: None disclosed for Blassberg over the past five years in the proxy’s “Principal Occupation(s) and Other Public Company Directorships” section .
- Interlocks: She serves as a director across the Lazard Fund Complex along with LGI’s board, which is standard for complex governance and not treated as an “interested person” status .
Expertise & Qualifications
- Domain expertise in mergers & acquisitions, private equity, and corporate governance; legal training and practice at Debevoise & Plimpton .
- Education: BA with distinction from Cornell University; JD from Cornell Law School .
Equity Ownership
| As of Date | Dollar Range of LGI Fund Common Stock | Aggregate Dollar Range of Lazard Fund Complex |
|---|---|---|
| December 31, 2023 | None | $50,001 – $100,000 |
| December 31, 2024 | None | Over $100,000 |
- Group ownership: Directors and officers, as a group, owned less than 1% of LGI’s outstanding Common Stock as of both December 31, 2023 and December 31, 2024 .
- Section 16(a) compliance: All reporting persons complied with filing requirements in FY2023 and FY2024 (Fund disclosure) .
Governance Assessment
- Independence and committee engagement: Blassberg is an Independent Director serving on the Audit Committee and Nominating Committee; the Audit Committee comprises all Independent Directors, with activity consistent year-over-year (four meetings) .
- Attendance: Met or exceeded 75% attendance threshold in FY2023 and FY2024, indicating baseline engagement .
- Ownership alignment: She held no LGI shares as of the last two year-ends, while maintaining >$100k aggregate holdings across the Lazard Fund Complex by YE2024; directors and officers collectively held <1% of LGI, typical for closed-end fund governance but may be viewed as lower direct LGI alignment .
- Compensation structure: Cash-only aggregate director compensation disclosed; no performance-based or equity-linked incentives for directors; no standing Compensation Committee for the Board .
- RED FLAGS: None disclosed regarding related party transactions, pledging/hedging, option repricing, or legal proceedings in the proxy; lack of LGI share ownership is a potential alignment consideration for some investors .