August 17, 2007 / 12:30 AM / 12 years ago

UPDATE 1-Lazard CEO Wasserstein raises his stake

(Adds details)

NEW YORK, Aug 16 (Reuters) - Lazard Ltd (LAZ.N) Chief Executive Bruce Wasserstein has raised his stake in the merger adviser, a regulatory filing showed on Thursday when the company’s shares hit an all-time low.

In a U.S. Securities and Exchange Commission filing, Wasserstein said he had bought about 140,000 shares from Aug. 14 to 16 for prices that ranged from $35.27 to $39.17.

It was his first open market purchase of Lazard stock since August 2005, according to filing tracker InsiderScore.com.

Wasserstein now holds about 1.57 million Class A shares, or about 3 percent of the company’s Class A shares.

He also revealed in the filing that a trust for his family had bought about 329,500 shares from Aug. 14 to 16.

Wasserstein does not have any beneficial ownership interest or voting control over the shares in the Wasserstein Family Trust, the filing said.

The Wasserstein Family Trust now owns 8.3 million Lazard shares while Bruce Wasserstein owns 4.2 million shares, bringing the total to 12.5 million shares or a stake of about 11.2 percent.

Lazard shares closed up $1.34, or 3.7 percent at $38.08 on the New York Stock Exchange, before the filing. Early on Thursday, the stock hit a record low of $34.72.

Reporting by Emily Chasan

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