Lazard LTD. (LAZ) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

remind you that we may make forward-looking statements about our business and performance. There are important factors that could cause our actual results, level of activity, performance, achievements, or other events to differ materially from those expressed or implied by the forward-looking statements, including, but not limited to, those factors discussed in the company's SEC filings, which you can access on our website. Lizard assumes no responsibility for the accuracy or completeness of these forward-looking statements and assumes no duty to update them. Today's discussion also includes certain non-GAAP financial measures that we believe are meaningful when evaluating the company's performance. A reconciliation of these non-GAAP financial measures to the comparable GAAP measures is provided in our earnings release and investor presentation. Hosting our call today are Peter Orszag, Lizard's Chief Executive Officer and Chairman, and Mary Ann Bech, Lizard's Chief Financial Officer. After our prepared remarks, Peter and Mary Ann will be joined by Evan Russo, Chief Executive Officer of Asset Management, as they open the call for questions. Now I'll turn the call over to Peter. Thank you, Allie, and good morning to everyone joining today's call. We are pleased to report strong performance and results with total firm-wide adjusted net revenue of $1.4 billion for the first half of the year. Financial advisory achieved a record first half of the year with adjusted net revenue of $861 million. Advisory revenue this year has demonstrated the geographic and product diversity of our business. Results represent the overall strength of Lizard's team and brand, which includes record revenue in France and Germany for the first half of the year. Our performance reflects a global ...