Lazard announced the opening of a Swiss office in Zurich to continue to expand the firm's advisory practice in Europe.
Lazard acquires Carnegie, Wylie & Company, an independent financial advisory firm in Australia.
Weakness in the credit market prompted a sharp sell-off in financial stocks, including many leading investment banks such as Lehman Brothers, Bear Stearns, and others.
Lazard agreed to acquire Goldsmith Agio Helms & Lynner, a middle market investment bank, to help the firm build out its middle market practice. There was also lot of other takeover speculation surrounding the stock.