Word: lazard
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Dates: during 1970-1979
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DIED. André Meyer, 81, Paris-born investment banker who dominated Wall Street's aggressive Lazard Frères & Co. for 34 years; of pneumonia; in Lausanne, Switzerland. A star at Lazard's Paris affiliate before fleeing France in 1940, Meyer became senior partner at the firm's Manhattan headquarters in 1944 and turned a cautious house into a corporate merger machine instrumental in the making of such giants as RCA and ITT. A compulsive worker, he amassed a fortune estimated at half a billion dollars, became an adviser to Presidents Kennedy and Johnson and gave millions...
...Javits of New York, the ranking Republican on the Senate Foreign Relations Committee, argued that the U.S. should not force American companies doing business abroad to adhere to antitrust standards tougher than those of the countries where they operate. Felix Rohatyn, a partner in the investment banking house of Lazard Freres, noted that governments in Europe and Japan are urging the merging of some of their own big firms to sharpen their ability to compete in world markets...
Felix Rohatyn, 50, partner, Lazard Frères, New York City. He has made only one major investment in the past six months, a house on 2½ acres in Southampton, N.Y. "If worse comes to worse, I can always plant some lettuce and corn and live off the land," he says. Rohatyn is filling his house with antiques because "what I paid $1,000 for this year, I probably could have bought for $300 two years ago, and probably would have to spend $2,000 for a year and a half from now." He also cites as a "spectacularly...
...side, American Express enlisted the aid of the Lazard Frères investment banking firm, and Lazard in turn engaged Joseph Flom, a lawyer famed for his skill in fighting long delaying actions against takeovers and thus an expert on how to counteract such tactics. American Express further arranged $700 million in stand-by credits from major banks. It obviously does not need the money, but might prefer to borrow for the takeover rather than cash in some high-yielding securities...
That was the reason Lazard was so eager to battle Salomon Brothers and other large firms for Burns' services. As an economic adviser to every President since Eisenhower, he has a wide range of powerful contacts abroad. Says one Lazard partner: "He will be the supreme door opener. He knows the heads of all the central banks of the world on a first-name basis. Who is going to refuse a call from Arthur...