The David Rubenstein Show Peter Orszag
Oct 17, 2024
Peter Orszag, an economist and former government official, now CEO of Lazard, shares his insights on navigating both Wall Street and Washington. He dives into the complexities of today’s M&A landscape, influenced by technology and regulations. Orszag discusses the critical role of geopolitical knowledge in financial decision-making and highlights the significance of effective leadership in the face of international tensions. He also reflects on the evolution of sustainability initiatives within finance and the impact of diverse teams on advisory success.
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M&A Headwinds and Tailwinds
- M&A activity has been influenced by regulatory environment, high interest rates, and market conditions.
- These headwinds are abating, with interest rates stabilizing and regulatory challenges being contested in court.
Lazard's Origins
- Lazard, a 176-year-old firm, began as a dry goods store in New Orleans.
- The Lazard brothers transitioned to finance after capitalizing on lending opportunities during the California gold rush.
Role of Advisors for CEOs
- CEOs benefit from advisors for multi-dimensional perspectives, pushback on ideas, and regulatory guidance.
- Advisors act as intermediaries in negotiations, similar to lawyers.