Lazard loses a second top dealmaker

LAZARD has lost a chief dealmaker with Ken Costa quitting his roles as chairman of Lazard International and co-head of UK?investment banking.

Costa, 62, will leave at the end of this week, creating a second gap among Lazard’s senior rainmakers after the unexpected departure of Lazard International chief executive Naguib Kheraj.

Kheraj left recently just 32 days after joining, saying that he was too busy to continue in his post.

It is understood that Costa, who was once tipped as a successor to former Lazard boss Bruce Wasserstein, does not have a new job lined up. He has been at the bank for over three years.

Lazard International, which Costa led, does not include the main bank’s operations but consists of a group of senior dealmakers whose main role is to drum up business for the firm.

Costa, who developed a reputation as an aggressive advocate who specialised in advising family-owned companies, came to the bank after leaving UBS unexpectedly, bringing with him a strong base of contacts, particularly in the Gulf and Middle East.

Lazard declined to comment.