Lazard(US:LAZ)2021-04-30 15:52Lazard's Business Overview - Lazard's mission is to provide trusted financial advice and investment solutions to clients, operating globally with local expertise [4] - Lazard has over 170 years of experience serving clients, with LTM Operating Revenue of $26 billion and $265 billion in Assets Under Management [5] - Lazard is a uniquely diversified global financial advisory and investment manager with an established track record of performance [7] Financial Performance and Strategy - Lazard's LTM operating revenue is $26 billion [5] - Lazard's Q1 2021 operating revenue was $648 million, including $317 million from Financial Advisory and $328 million from Asset Management [27] - Lazard's AUM reached a record $265 billion in Q1 2021 [27] - Lazard's financial strategy focuses on cost discipline, targeting a mid-to-high 50s percentage range for compensation ratio and 16% to 20% for non-compensation ratio [45] - Lazard maintains a strong liquidity profile with $975 million in cash and cash equivalents and a $200 million undrawn credit facility [50] Growth and Innovation - Lazard is focused on organic and inorganic growth, including investment platform extensions and new advisory services [35] - New strategies represent 58% of Lazard's total AUM [39] - Lazard is technology-driven, with a cloud-based data platform and investments in infrastructure and innovative applications [15]