Robert Spiro
About Robert Spiro
Robert Spiro (year of birth: 1988) serves as Assistant Secretary of Lazard Global Total Return and Income Fund, Inc. (LGI) and has held the role since September 2024; he is concurrently Senior Vice President and Counsel at Lazard Asset Management LLC (LAM) . Prior roles include Associate at Dechert LLP (May 2022–September 2024) and Associate at Proskauer Rose LLP (November 2017–May 2022) . LGI is a closed-end investment company under the Investment Company Act of 1940; the proxy does not disclose executive-related company TSR, revenue growth, or EBITDA metrics for Spiro’s tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Dechert LLP | Associate | May 2022 – Sep 2024 | Legal counsel experience in a global law firm; relevant for fund governance and securities law |
| Proskauer Rose LLP | Associate | Nov 2017 – May 2022 | Legal counsel at a major firm; strengthens regulatory and corporate governance capabilities |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in LGI filings | — | — | — |
Fixed Compensation
| Component | 2024 | Source |
|---|---|---|
| Base Salary (paid by LGI) | $0 (officers shall not receive stated salary unless Board determines otherwise) | |
| Cash Bonus (paid by LGI) | $0 (no officer cash compensation disclosed) | |
| Other Cash (paid by LGI) | $0 (no officer cash compensation disclosed) |
Officers of the Fund are elected and serve until a successor is elected and qualifies or earlier resignation/removal; compensation is not paid by LGI absent Board determination .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None disclosed for Fund officers | — | — | — | — | — |
LGI’s proxy and bylaws do not disclose any performance-based compensation or equity awards for Fund officers .
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Fund share ownership (Robert Spiro) | Not individually disclosed | |
| Directors and officers, as a group | <1% of outstanding Common Stock (as of Dec 31, 2024) | |
| Shares pledged as collateral | Not disclosed | |
| Hedging policy / transactions | Not disclosed; Section 16(a) filings deemed compliant for reporting persons in FY2024 | |
| Stock ownership guidelines (officers) | Not disclosed |
Employment Terms
| Term | Provision | Source |
|---|---|---|
| Role | Assistant Secretary (since Sep 2024); Senior Vice President and Counsel at LAM | |
| Election & tenure | Officers serve until successor elected and qualifies, or earlier resignation/removal | |
| Removal | Officers may be removed, with or without cause, by the Board; resignation effective upon receipt or stated time | |
| Compensation | Officers shall not receive stated salary or other compensation for services as officers, unless Board determines otherwise | |
| Severance | Not disclosed | |
| Change-of-control | Not disclosed | |
| Indemnification | To the maximum extent permitted by Maryland law; advance of expenses subject to conditions | |
| Non-compete / non-solicit | Not disclosed | |
| Garden leave / consulting | Not disclosed |
Investment Implications
- Compensation alignment: As an officer of a registered closed-end fund, Spiro does not receive cash compensation from LGI unless separately determined by the Board, and no performance-based or equity-linked compensation is disclosed—reducing pay-for-performance levers at the Fund level .
- Insider selling pressure: No individual beneficial ownership or Form 4 transaction data for Spiro is disclosed in the proxy; the Fund states Section 16(a) compliance for reporting persons in FY2024, but absence of disclosed holdings limits analysis of potential selling pressure .
- Retention risk: Employment and compensation are tied to LAM rather than LGI; LGI’s bylaws allow removal with or without cause and do not provide severance or change-of-control economics for officers—suggesting limited Fund-level retention incentives and reliance on LAM employment terms .
- Governance and risk: Broad indemnification rights are provided under Maryland law and Fund bylaws, but no red flags are disclosed regarding pledging, hedging, tax gross-ups, or related-party transactions for Spiro; key officer responsibilities are administrative/legal rather than portfolio management .
- Monitoring: Track future 8-K Item 5.02 filings for officer appointments or changes and any individual Section 16 Form 4 filings to assess ownership alignment and potential trading signals; current LGI filings provide limited officer-specific incentive or ownership detail .