Lazard Shares Drop After Large Client Loss

Lazards shares plummeted by three percent following the announcement of a significant drop in assets under management, primarily due to an unexpected eighteen billion dollar net outflow, largely attributed to the closure of a single U.S. client relationship. This early loss of a major client, initially anticipated for later, triggered a negative market reaction, though the companys overall market view remains largely unchanged.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.