Lazard To Quit City

The new office will be situated behind Green Park tube station and, although the Moorgate lease runs until 2006, it is thought that the 154 year old investment bank wishes to move as soon as possible.

The move is seen as the first sign that Bruce Wasserstein, the veteran Wall Street dealmaker, is beginning to make his mark at Lazard. Wasserstein has already indicated that he feels it is about time the bank changed its image and its culture. He is also working on reforming the old partnership structure in order to give partners equity stakes in the business.