Nargis Hilal
About Nargis Hilal
Nargis Hilal (born 1984) serves as Chief Compliance Officer of Lazard Global Total Return and Income Fund, Inc. (LGI) since July 2020. She is a Managing Director at Lazard Asset Management LLC (LAM) (since February 2024), previously Director (since February 2021) and Senior Vice President (since August 2017). She has been Chief Compliance Officer and Counsel of LAM since April 2022 (previously Deputy Chief Compliance Officer since August 2017), and Chief Compliance Officer of Lazard Asset Management Securities LLC since February 2019 . Fund-level proxies do not disclose executive performance metrics (e.g., TSR, revenue, EBITDA) for officers; they focus on board governance and director compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lazard Global Total Return & Income Fund, Inc. | Chief Compliance Officer | Since Jul 2020 | Oversees fund compliance; interfaces with Board/Audit Committee on regulatory and compliance risk |
| Lazard Asset Management LLC | Managing Director | Since Feb 2024 | Senior leadership accountability for legal/compliance across LAM and fund complex |
| Lazard Asset Management LLC | Director | Since Feb 2021 | Advanced oversight responsibilities before promotion to Managing Director |
| Lazard Asset Management LLC | Senior Vice President | Since Aug 2017 | Deputy compliance leadership; policy design/implementation |
| Lazard Asset Management LLC | Chief Compliance Officer and Counsel | Since Apr 2022 | Primary compliance authority; legal counsel roles at LAM |
| Lazard Asset Management LLC | Deputy Chief Compliance Officer | Since Aug 2017 | Built/managed compliance framework; precursor to CCO role |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lazard Asset Management Securities LLC | Chief Compliance Officer | Since Feb 2019 | Broker-dealer compliance leadership; regulatory controls for distribution/trading |
Fixed Compensation
- The LGI proxy reports director compensation but does not disclose compensation for Fund officers (e.g., base salary, bonus) who are employees of LAM; no officer pay tables or amounts appear in LGI’s DEF 14A filings reviewed (2023–2025) .
- The Fund does not maintain a standing Compensation Committee for the Board; oversight of officer compensation resides at LAM rather than the Fund .
Performance Compensation
- No disclosure of incentive structures (RSUs/PSUs/options), performance metrics, targets, actuals, or payouts for Fund officers (including Hilal) in LGI proxies reviewed (2023–2025). Therefore, vesting schedules, grant dates, award values, and metric weighting are not available at the Fund level .
Equity Ownership & Alignment
- LGI reports directors and officers of the Fund, as a group, owned less than 1% of outstanding Common Stock as of December 31, 2024; individual officer holdings (including Hilal) are not provided in the proxy .
- No disclosure regarding pledging or hedging by Fund officers; the proxies reviewed do not present a hedging/pledging policy summary or officer-level ownership guidelines (no officer ownership policy details found).
Employment Terms
- Officers’ appointment/tenure mechanism: each officer serves until a successor is elected and qualifies or until earlier resignation or removal; officers serve in the same capacity across the Lazard Fund Complex .
- No disclosure of employment agreement terms for Fund officers (e.g., severance multiples, change-of-control triggers, accelerated vesting, clawback policies, non-compete/non-solicit, tax gross-ups) in LGI proxies reviewed (2023–2025) .
- Address for officers: Lazard Asset Management LLC, 30 Rockefeller Plaza, New York, NY 10112 .
Investment Implications
- Pay-for-performance alignment cannot be assessed at the Fund level: officer compensation (cash/equity mix, bonus targets, incentive metrics, vesting schedules) is not disclosed by LGI because officers are LAM employees; this limits visibility into retention incentives or potential insider selling pressure from Fund-related awards .
- Ownership alignment appears limited at the Fund: group holdings by directors/officers are under 1%, and individual officer stakes are not disclosed—reducing transparency on “skin in the game” for compliance leadership .
- Governance structure relies on LAM for day-to-day operations and compliance; the Board’s oversight framework and lack of a standing Compensation Committee underscore that compensation levers for executives like Hilal are set at LAM, not the Fund—investors should evaluate LAM’s corporate compensation and retention practices for a fuller alignment picture .
- No disclosed red flags in LGI proxies around Hilal (e.g., legal proceedings, option repricing, related-party transactions, or Section 16 issues), though officer-level hedging/pledging and contract economics are not reported—ongoing diligence via LAM disclosures and any Form 4 filings is warranted .