U.S. bank mergers likely to pick up as industry consolidates, Lazard CEO says

Reuters

Jul 24, 2025

NEW YORK, July 24 (Reuters) - Lazard (LAZ.N) CEO Peter Orszag expects a long-awaited wave of bank mergers to pick up as the broader dealmaking outlook improves, he told journalists on a post-earnings conference call on Thursday.

The earnings report showed that Lazard beat estimates for second-quarter profit, driven by record revenue in its advisory business.

"We do see a more constructive environment for bank M&A," for lenders that are regulated by the Federal Reserve and Federal Deposit Insurance Corp., he said.

"Our FIG (financial institutions group) team is super busy ... there are obviously a lot of discussions about the fact that there are probably too many banks in the United States, and it would be helpful to have some consolidation."

(Reporting by Lananh Nguyen in New York; Editing by David Holmes)

((Lananh.Nguyen@thomsonreuters.com; +1 (646) 696 4829;))

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