Lazard LTD. (LAZ) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.838 Good morning and welcome to Lazard's third quarter and first nine months 2025 earnings 00:00:05.838 -- 00:00:08.381 call is being recorded. 00:00:08.381 -- 00:00:12.525 Currently, all participants are in a listen-only mode. 00:00:12.525 -- 00:00:16.050 Following the remarks, we will conduct a question and answer session. 00:00:16.050 -- 00:00:17.751 Instructions 00:00:17.751 -- 00:00:20.775 will be provided at that time. If 00:00:20.775 -- 00:00:25.561 anyone should require assistance during the call, please press the star key followed 00:00:25.561 -- 00:00:28.820 by zero on your telephone keypad. 00:00:28.820 -- 00:00:33.725 At this time, I will turn the call over to Alexandra Degnan, Lazard's head of investor 00:00:33.725 -- 00:00:38.087 relations and treasury. Please go ahead. 00:00:38.209 -- 00:00:42.093 Good morning and welcome to Lazard's earnings call for the third quarter and first nine 00:00:42.093 -- 00:00:47.499 months of 2025. I'm Alexandra Degnan, head of investor relations and treasury. 00:00:47.499 -- 00:00:52.664 In addition to today's audio comments, we have posted our earnings release on our website. 00:00:52.664 -- 00:00:56.562 A reply to this call will also be available on our website later today. 00:00:56.562 -- 00:01:00.106 Before we begin, let me remind you that we may make forward-looking statements about 00:01:00.106 -- 00:01:04.030 our business and performance. There are important factors that could cause our actual 00:01:04.030 -- 00:01:08.495 results, level of activity, performance, achievements, or other events to differ materially 00:01:08.495 -- 00:01:12.980 from those expressed or implied by the forward-looking statements, including, but not 00:01:12.980 -- 00:01:18.065 limited to, those factors disc...