Lazard Looks to Orszag as CEO Jacobs Plans to Step Down

The video discusses the leadership transition at Lazard, with Jacobs stepping aside for Peter Orszag. Bloomberg Finance Editor Michael Moore provides insights into the succession plan and the historical context of Jacobs' tenure, which began as an emergency appointment after Bruce Wasserstein's death. Despite being one of the longest-serving leaders on Wall Street, Jacobs' tenure has seen challenges, including a slump in Lazard's share price. The discussion highlights the need for change and the future outlook for the company.

Who is set to replace Jacobs at Lazard?

• John Doe

• Michael Moore

• Peter Orszag

• Bruce Wasserstein

What event led to Jacobs' appointment at Lazard in 2010?

• A financial crisis

• Bruce Wasserstein's death

• A merger with another company

• Jacobs' previous success in another firm

How long has Jacobs been a leader on Wall Street?

• 10 years

• 5 years

• 20 years

• 13 years

What issue has Lazard been facing recently?

• Employee strikes

• Leadership disputes

• Declining share price

• Regulatory challenges

Why does the transition at Lazard make sense at this time?

• Because of a deal slump

• To reduce operational costs

• Due to a new business strategy

• To expand into new markets