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Lazard Is Going To See AUM Erosion, Further Hits To M&A (NYSE:LAZ)


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Lazard (NYSE:LAZ) has an asset management business, usually around 50% of its business, that acts as a resilient anchor in the business results. While it will be relatively less cyclical than advisory, we see attacks on all fronts with

LAZ AUM asset class

AUM Asset Class (10-K 2022)

laz am revenues

AM Segment (10-K 2022)

LAZ revenue

Total Revenue (10-K 2022)

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