Nathan Paul
About Nathan Paul
- Nathan A. Paul (year of birth: 1973) serves as Director (since February 2017) and Chief Executive Officer and President (since February 2017) of Lazard Global Total Return and Income Fund, Inc. (LGI); he previously served as Vice President and Secretary since 2002 .
- He is Vice Chair and Chief Operating Officer of Lazard Asset Management (LAM) since January 2023; prior roles at LAM include Chief Business Officer (April 2017–December 2022), Managing Director (since 2003), and General Counsel (2002–April 2017); education: BA, Yeshiva University; JD, Benjamin N. Cardozo School of Law .
- Governance context: LGI’s Board is 75% independent with a Lead Independent Director; Paul is an “Interested Director” under the 1940 Act due to his LAM role; independent directors chair committees and oversee key approvals .
- Board activity and attendance: the Board met seven times in 2024; each Director attended at least 75% of aggregate Board and committee meetings .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Lazard Asset Management (LAM) | Vice Chair & Chief Operating Officer | Jan 2023–present | Senior operating leadership over LAM; progression from legal to business leadership aligns with fund governance oversight . |
| Lazard Asset Management (LAM) | Chief Business Officer | Apr 2017–Dec 2022 | Business leadership supporting fund complex operations . |
| Lazard Asset Management (LAM) | General Counsel | 2002–Apr 2017 | Legal and compliance leadership for the platform . |
| Lazard Asset Management (LAM) | Managing Director | 2003–present | Executive leadership tenure within LAM . |
| Schulte Roth & Zabel LLP | Associate | Not disclosed | Prior legal practice foundation before joining LAM . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| The Lazard Funds, Inc.; Lazard Retirement Series, Inc. (Lazard Fund Complex) | Director; also CEO & President for the other funds in the complex | Current | Also a director of certain foreign affiliates of LAM and private funds advised by LAM or its affiliates . |
| Non-profit organizations (unnamed) | Board member | Current | Serves on several non-profit boards . |
Fixed Compensation
- LGI does not have a standing Board Compensation Committee; director compensation is disclosed directly in the proxy .
- As an Interested Director, Nathan Paul received no director compensation from LGI or the Lazard Fund Complex for 2023 and 2024 .
| Component | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate Compensation from the Fund | None | None |
| Aggregate Compensation from the Lazard Fund Complex | None | None |
Performance Compensation
- The Fund does not have a standing Compensation Committee, and the proxy does not disclose any performance-based compensation for Interested Director Nathan Paul; his director compensation is “None” (no cash or equity compensation disclosed) .
Equity Ownership & Alignment
| Metric | As of Dec 31, 2023 | As of Dec 31, 2024 |
|---|---|---|
| Dollar Range of LGI Common Stock (Nathan Paul) | None | None |
| Aggregate Dollar Range of Shares of the Lazard Fund Complex (Nathan Paul) | Over $100,000 | Over $100,000 |
| Directors and officers (group) ownership of LGI | Less than 1% | Less than 1% |
| LAM beneficial ownership of LGI Common Stock | None (as of Record Date) | None (as of Record Date) |
Employment Terms
| Item | Detail |
|---|---|
| Officer roles at LGI | CEO and President since February 2017; previously Vice President and Secretary since 2002 . |
| Director status | Class I; Continuing Director; current term runs to 2027 . |
| Independence | “Interested Director” under the 1940 Act due to positions with LAM . |
| Committees | The Board has Audit and Nominating Committees comprised solely of Independent Directors; LGI has no standing Board Compensation Committee . |
| Committee leadership | Audit Committee chaired by Nancy A. Eckl; Committee met four times in FY 2024 . |
| Board activity | Seven Board meetings in FY 2024; each Director ≥75% attendance . |
Board Governance (service history, committee roles, dual-role implications)
- Board service history: Director since February 2017; concurrently serves as CEO and President of LGI since February 2017 .
- Committee roles: As an Interested Director, Paul does not serve on the Audit or Nominating Committees, which consist solely of Independent Directors; the Board has no standing Compensation Committee .
- Dual-role implications: Paul’s executive role at LAM (Vice Chair & COO) makes him an Interested Director; independence concerns are mitigated by a 75% independent Board and a Lead Independent Director structure .
Investment Implications
- Alignment: Paul holds no LGI common stock (dollar range “None”), and directors/officers as a group own less than 1% of LGI; while he has over $100,000 aggregate holdings across the Lazard Fund Complex, his direct exposure to LGI NAV appears limited .
- Compensation-driven incentives: As an Interested Director, he receives no director compensation from LGI or the Lazard Fund Complex, so there is no direct LGI director pay lever tying him to Fund performance; oversight relies on Board structure rather than pay design .
- Governance risk control: The Board is majority independent (75%), with a Lead Independent Director and independent-only Audit and Nominating Committees, providing formal checks around potential conflicts associated with Paul’s dual role as an LAM executive and LGI CEO/Director .
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