© Reuters. FILE PHOTO: The logo and trading information for Lazard Ltd appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid/File Photo
(Reuters) – Investment bank Lazard (NYSE:) Ltd reported a nearly 14% jump in first-quarter profit on Thursday, as higher fees from its financial advisory business helped offset a slump in asset management.
Lazard, one of the world’s top 10 M&A advisers, reported adjusted net income of $115 million, or $1.05 per share, compared with $101 million, or 87 cents per share, a year earlier.
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