October 25, 2018 / 12:45 PM / 19 days ago

Lazard CEO says financial advisory business looks better in second half

Oct 25 (Reuters) - Lazard Ltd expects its financial advisory business to post better results in the second half of 2018 from a year earlier, company chief executive told Reuters on Thursday.

“Right now, the second half of this year still looks to be better than second half of last year in financial advisory,” Kenneth Jacobs said.

The comments come after the company posted a 1 percent year-over-year drop in the business to $304 million in the third quarter, mostly due to weakness in its restructuring operations.

M&A volumes saw a double-digit increase, Jacobs said.

Global M&As in the third quarter fell 35 percent from the prior quarter, as an escalating U.S-China trade dispute cast a shadow on the financial and regulatory prospects of some deals.

Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila

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