Lazard to Expand Financial Advisory Business into the U.S. Middle Market Through Acquisition of Goldsmith Agio Helms

Lazard Ltd (NYSE:LAZ) announced today a new growth initiative focused on financial advisory to mid-sized private companies. Lazard has signed a definitive agreement to acquire Goldsmith Agio Helms & Lynner, LLC (d/b/a Goldsmith Agio Helms) for a combination of cash and stock. Upon regulatory approval, Goldsmith Agio Helms, a middle market investment bank, will serve as the foundation for a new division of Lazard’s Financial Advisory business, providing services to mid-sized private companies as well as additional access to middle market acquisition opportunities for Lazard’s traditional Financial Advisory clients. "The acquisition of Goldsmith Agio Helms will allow Lazard to extend our reach to the vibrant middle market for our existing client base,” said Kenneth M. Jacobs, CEO of Lazard North America. "The combination enables us to leverage Lazard’s industry sector expertise and relationships, geographic reach and corporate finance capabilities with Goldsmith Agio Helms’ middle market knowledge, access and geographic reach. Lazard’s middle market financial advisory business will bring us a strong growth platform that will benefit our clients and our firm.” Lazard’s middle market business will be positioned uniquely within the investment banking industry, initially staffed by approximately 90 professionals from Goldsmith Agio Helms in Minneapolis, Chicago, Los Angeles, New York and Shanghai. In addition to offering financial advice, enhancing liquidity and optimizing value for middle market companies through mergers and acquisitions, IPOs and recapitalizations, Lazard also will provide current clients with improved access to mid-sized private companies. "We are pursuing this transaction to enhance the resources and capabilities we bring to our clients,” said Jack Helms, Chairman of Goldsmith Agio Helms. "Our middle market bankers will now have access to unparalleled industry expertise and relationships, integrated global reach, a full spectrum of creative financial products and services, and a best practice partnership with the most focused and accomplished financial advisory firm in the world.” "In addition, we share many characteristics that will ensure the future success of our team of professionals, including an entrepreneurial culture, client-centric perspective, long-term approach to client relationships, and dedication to offering clients independent, trusted and unbiased advice,” added Mr. Helms. Goldsmith Agio Helms, which will serve as the cornerstone of Lazard’s middle market financial advisory business, will be led by Goldsmith Agio Helms’ co-CEOs Michael McFadden and David Solomon, and Chairman Jack Helms. Terms of the agreement were not disclosed, and the transaction is subject to regulatory approval by the National Association of Securities Dealers, and other customary closing conditions. The formation of Lazard’s middle market business, through the acquisition of Goldsmith Agio Helms, headquartered in Minneapolis, reinforces Lazard’s strategy to expand its financial advisory business by industry and geography and its commitment to provide premium service to clients. Lazard also recently announced plans to acquire 50% of MBA, expanding its financial advisory business in Central and South America, and signed a joint cooperation agreement with Raiffeisen Investment, for mergers and acquisition advisory in Russia and Central and Eastern Europe. About Lazard Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 29 cities across 16 countries in North America, Europe, Asia, Australia and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, restructuring and capital raising, as well as asset management services to corporations, partnerships, institutions, governments, and individuals. For more information on Lazard, please visit www.lazard.com. About Goldsmith Agio Helms Goldsmith Agio Helms (www.Agio.com) is an investment bank focused on middle market mergers and acquisitions, restructuring and financings, and has approximately 90 professionals in five offices in Minneapolis, Chicago, Los Angeles, New York, and Shanghai. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements.” In some cases, you can identify these statements by forward-looking words such as "may”, "might”, "will”, "should”, "expect”, "plan”, "anticipate”, "believe”, "estimate”, "predict”, "potential” or "continue”, and the negative of these terms and other comparable terminology. These forward-looking statements are not historical facts but instead represent only our belief regarding future results, many of which, by their nature, are inherently uncertain and outside of our control. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking statements. These factors include, but are not limited to, those discussed in our Annual Report on Form 10-K under Item 1A "Risk Factors,” and also disclosed from time to time in reports on Forms 10-Q and 8-K including the following: A decline in general economic conditions or the global financial markets; Losses caused by financial or other problems experienced by third parties; Losses due to unidentified or unanticipated risks; A lack of liquidity, i.e., ready access to funds, for use in our businesses; and Competitive pressure. 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