REUTERS NEXT-Lazard expects dealmaking to pick up, tariffs to be measured

Reuters
2024-12-12
REUTERS NEXT-Lazard expects dealmaking to pick up, tariffs to be measured

By Lananh Nguyen and Nupur Anand

NEW YORK, Dec 11 (Reuters) - Investment bank Lazard's LAZ.N CEO, Peter Orszag, predicted a surge in dealmaking momentum to continue into next year, helped by private equity activity.

Wall Street executives have expressed optimism that the incoming Trump administration will usher in deregulation and more openness to mergers and acquisitions. The bullish views come as investment banking activity recovers from a two-year dry spell.

"There were a lot of large transactions that were being informally discussed that now are more in 'let's see if we can really make this happen,' and that's pretty much across the board," Orszag said in an interview on Wednesday at the Reuters NEXT conference in New York.

President-elect Donald Trump, who takes office on Jan. 20, has said he will slap 25% tariffs on imports from Mexico and Canada, as well as additional duties on Chinese goods, which would hit companies in sectors from autos to retail and has sparked concern among investors.

"There may have been a lot of rhetoric, but when you get to governing and want to make sure that inflation doesn't begin to spike, things will be done in a more tempered manner," Orszag said.

He was also bullish about Lazard's prospects for next year.

New York-based Lazard's financial advisory revenue climbed 39% in the third quarter to $371 million, driving a 50% jump in revenue to $785 million.

Lazard was the ninth-most active investment bank in global M&A in the first nine months of the year, ranked by fees, according to data from Dealogic.

To view the live broadcast of the World Stage go to the Reuters NEXT news page: https://www.reuters.com/world/reuters-next/

(Reporting by Nupur Anand and Lananh Nguyen in New YorkEditing by Matthew Lewis)

((Nupur.Anand@thomsonreuters.com; +1 646 240 2975;))

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