U.S. bank mergers likely to pick up as industry consolidates, Lazard CEO says
ReutersJul 24, 2025 2:16 PM
NEW YORK, July 24 (Reuters) - Lazard (LAZ.N) CEO Peter Orszag expects a long-awaited wave of bank mergers to pick up as the broader dealmaking outlook improves, he told journalists on a post-earnings conference call on Thursday.
The earnings report showed that Lazard beat estimates for second-quarter profit, driven by record revenue in its advisory business.
"We do see a more constructive environment for bank M&A," for lenders that are regulated by the Federal Reserve and Federal Deposit Insurance Corp., he said.
"Our FIG (financial institutions group) team is super busy ... there are obviously a lot of discussions about the fact that there are probably too many banks in the United States, and it would be helpful to have some consolidation."
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