Funds News

UPDATE 2-Lazard hires ex-JPM Cazenove CEO Kheraj

* Joins in new role as CEO of Lazard International on Jan. 1

* To take “leadership role” advising companies, banks, SWFs

(adds background on other senior staff, comment from Kheraj)

LONDON, Oct 13 (Reuters) - Lazard Ltd LAZ.N has hired Naguib Kheraj for a new top international role, bolstering its London offering with a banker previously linked with top jobs at Lloyds Banking Group LLOY.L and UK insurer Prudential PRU.L.

Kheraj, 46, had been chief executive officer (CEO) of JPMorgan Cazenove, the U.S. bank's joint venture with Britain's Cazenove Group. He left after JPMorgan JPM.N took full control of the unit earlier this year.

Kheraj will join Lazard in London on January 1 as chief executive of Lazard International, and will be a deputy chairman.

Kheraj will report to Kenneth Jacobs, who took over as chairman and CEO of Lazard after the death of Bruce Wasserstein, the veteran Wall Street dealmaker, last year.

In London he will work alongside Ken Costa, chairman of Lazard international and William Rucker, who is CEO of Lazard in London. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Reuters Breakingviews column on [ID:nLDE69C1T6]


Lazard said Kheraj would “take a leadership role in advising large corporates, financial institutions and sovereign funds in Europe, the Middle East and Africa”.

“I’d expect to spend most of my time on client work, with a focus on banks and asset managers, and sovereign wealth funds,” Kheraj told Reuters in a telephone interview.

“As a former board member and CFO of one of the biggest banks, you bring a different perspective for clients.”

He joined JPMorgan Cazenove after leaving Barclays Plc BARC.L in early 2007, where he had been finance director.

Lazard ranks third for mergers and acquisitions (M&A) with a European target this year, Thomson Reuters data show, up from ninth in 2009. (Reporting by Quentin Webb; editing by Elaine Hardcastle)