Mandelson wins new Lazard role

Labour peer Lord Peter Mandelson has been appointed chairman of Lazard International – the global arm of the investment bank. Mandelson joined Lazard as a senior adviser last year, and is stepping into the role vacated by ex-UBS banker Ken Costa, who left Lazard in April 2011 to join the Church of England. The former Business Secretary’s appointment was added to the official Register of Lords' Interests on 31 October. He is also chairman of Global Counsel, a strategic advisory firm that he founded in late 2010, and director of Willbury Limited, which handles remuneration from his public speaking work and royalties from his memoir, The Third Man.