Lazard to erase pension deficit

All credit to the Trustees of the Lazard employee pension fund, David Verey, Sir John Nott and John Nelson.

While the Trustees are former senior leaders at Lazard, they did not allow loyalty to their former employer to override their responsibility to their pension recipients, whom they are representing.

In this context, they used the appropriate leverage (a public letter) at the appropriate time (the IPO of Lazard) to ensure that their pension fund deficit was covered.

A job well done and a welcome demonstration of what good governance is all about.

OAM

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Lazard to erase pension deficit