Word: lazard
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Dates: during 1980-1989
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...tight money supply, though, is only part of the puzzle. Some experts, including Felix Rohatyn, a partner in the Lazard Frères investment banking firm, argue that loan demand is still putting intense pressure on interest rates. While the high cost of money has discouraged mortgage seekers and auto buyers, corporations are still queuing up to borrow. The volume of commercial and industrial loans at large banks has risen at an annual rate of 22% in the past month...
Advocates of default insist that Poland's creditors have an unparalleled opportunity to pressure the Soviet Union by squeezing its troubled satellite. Says Felix Rohatyn, a partner in the investment-banking firm of Lazard Frěres: "For the first time in 25 years, the Western governments have a truly credible weapon in their armory, and that's control of the capital markets. The Russians can get technology elsewhere, and lots of people will provide them with grain. But nobody else can make the capital available." A default declaration might force the financially pressed Soviet Union to increase...
Kaufman is not the only pessimist on Wall Street. Felix Rohatyn, a partner of Lazard Frères, an investment banking house, warns that "the next twelve to 18 months are going to be potentially the most dangerous period that I have seen in 30-plus years in the banking business." Rohatyn is wor ried about possible corporate bankruptcies and the failure of some banks or savings and loan institutions as well as rising unemployment. Last week the Labor Department released figures that supported those glum views. Unemployment in December jumped to a near record 8.9%, up from...
...weeks' work are common. According to one estimate, investment bankers this year will earn $500 million from the 60 largest corporate couplings. Top investment bankers earn $1 million and more annually, while vice presidents still in their late 20s make $150,000. Says Felix Rohatyn, 53, of Lazard Freres, who is one of the most respected men in the field: "Things seem to be getting out of hand, both in the fees and in the size of the deals being put together...
Seagram has retained two investment banking firms, Lazard Freres and Shearson Loeb Rhoades, in its effort to snare Conoco. Rohatyn and his Lazard Freres staff of only a dozen handled $10 billion worth of mergers last year. Shearson's group is led by Managing Director Mark Millard, 72, who in 1963 advised Seagram Chairman Edgar Bronfman to buy Texas Pacific Oil Co. for $326 million. Seagram last year sold Texas Pacific to the Sun Oil Co. for $2.3 billion; that money is now providing the bulk of funds used in the bidding for Conoco...