It is the world's largest independent investment bank, with principal executive offices in New York City, Paris and London.

Lazard Frères began to serve miners engaged in the California Gold Rush, and soon expanded into banking and foreign exchange.

It refers to associations of the Lazard brothers to form various financial services institutions with world-wide offices and investments.

The Lazard partners advised clients on financial matters and built a cross-border network of high-level relationships in business and government.

[4] In the economic boom following World War II, the American operations of Lazard expanded significantly under the leadership of the French financier André Meyer.

Meyer and Lazard partner Felix Rohatyn have been credited with virtually inventing the modern mergers and acquisitions (M&A) market.

[5] Following Wasserstein's death in 2009, Lazard's board of directors elected Kenneth M. Jacobs as chairman and CEO.

The firm manages assets on behalf of institutional clients (corporations, labor unions, public pension funds, endowments, foundations, insurance companies, and banks; and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered advisors) and individual clients (principally family offices and high-net-worth individuals).