David Verey makes the trip back home to Lazard
THE man once touted as a potential chief executive of the international investment bank Lazard is to return to the company he worked at for almost three decades.
David Verey, who enjoyed a 29-year career at the bank before quitting nine years ago, will slot back in as a senior advisor to its UK business.
The former chairman and chief executive of Lazard’s UK operations quit in 2001 to join its rival Cazenove as deputy chairman. But he left that role after only a year in the role because of a clash of cultures.
He will work alongside William Rucker, UK chief executive, and becomes part of a senior advisory team of City heavyweights drafted in recent years, including ITV chairman, Archie Norman, and property industry expert, Christopher Jones.
The Eton and Cambridge-educated investment banker will advise the bank’s senior managers and liaise with its biggest clients. The role is not full-time but Verey will be called in when Lazard requires his advice.
Verey holds non-executive directorships at the Daily Mail and General Trust, and Sofina, the Belgium-based holding company. But he resigned his position on the international advisory board of US private equity firm Blackstone last month to make his return to Lazard.
TIME LINE | LAZARD
● 1848
Founded in New Orleans, Lazard expanded shortly thereafter to provision the needs of the California gold rush. Over time, the business expanded into banking and foreign exchange businesses.
● 1852
Seeking to expand operations to Europe, Lazard opens its first office in Paris.
● 1870
Building on its European base, Lazard opens an office in London.
● 1876
Lazard’s businesses becomes solely focused on providing financial services.
● 2005
Lazard ended 157 years of private ownership and began trading publicly on the New York Stock Exchange under the ticker symbol “LAZ”.
● 2010
Lazard operates from 40 cities across 26 countries in North America, Europe, Asia, Australia, Central and South America.