Goldman Banker Tom Tuft Joining Lazard

Tom Tuft has agreed to join Lazard as chairman of the firm’s global capital markets advisory, and vice chairman of U.S. investment banking. He begins work at Lazard in November, and previously was chairman of Goldman Sachs’ equity capital markets group.

PRESS RELEASE

Lazard Ltd (NYSE:LAZ) announced today that Tom Tuft, one of the leading bankers in equity capital markets, will join Lazard as Chairman, Global Capital Markets Advisory, and a Vice Chairman, US Investment Banking in November. Mr. Tuft, based in New York, will join Lazard from Goldman Sachs & Co., where he most recently served as Chairman of its Equity Capital Markets group.

“Tom is one of the most highly regarded professionals on Wall Street and we are excited that he has decided to join Lazard as a senior member of the team,” said Bruce Wasserstein, Chairman and CEO of Lazard. “Advising clients regarding capital structure and financing needs is a key growth area for the firm. We are delighted to have one of the most experienced bankers in equity capital markets join us in continuing to build this important business.”

“I have great respect for Lazard and its people, many of whom I know well, and I consider the firm to have great potential for growth in the capital markets advisory area,” said Mr. Tuft. “I am deeply grateful for my career at Goldman Sachs and look forward to joining Lazard, and to the challenges and opportunities of my new position.”

Mr. Tuft joined Goldman Sachs in 1976 as a vice president in Institutional Sales and co-founded its Equity Capital Markets business in 1985. He became head of that business in 1998, and was named Chairman in 2004. Over the span of 25 years, he led or played a key role in a variety of equity offerings in the U.S. and landmark privatizations worldwide, including solicitation, marketing, management and pricing of domestic and international equity issues. Mr. Tuft is Chairman of the Roundabout Theatre Company, a Vice President of the Board of Trustees of the Whitney Museum of American Art and on the Board of Directors of Boys & Girls Harbor and the Cancer Research Institute.

Lazard’s U.S. Equity Capital Markets business provides advice to corporations with respect to all forms of public and private equity, and equity-linked financings, including initial public offerings, follow-on and convertible financings and private placements.

About Lazard

Lazard, one of the world’s preeminent financial advisory and asset management firms, operates from 39 cities across 24 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments, and individuals. For more information on Lazard, please visit www.lazard.com.

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