BREAKING NEWS

Star French banker Pigasse resigns from Lazard

Star French banker Pigasse resigns from Lazard
FILE PHOTO: French businessman and Lazard France CEO Matthieu Pigasse poses during an interview with Reuters in Paris, March 28, 2014. REUTERS/Christian Hartmann/File Photo -
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Christian Hartmann(Reuters)
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PARIS (Reuters) – Dealmaker Matthieu Pigasse had resigned after 17 years at investment bank Lazard <LAZ.N> to pursue a new entrepreneurial project, the bank said on Sunday.

The flamboyant Pigasse, who has deep relationships with the French establishment, has talked to a small number of U.S. advisory boutiques, sources had previously told Reuters.

“I am excited to begin my next chapter beyond investment banking in a new entrepreneurial project,” Lazard cited Pigasse as saying.

In May this year, Lazard announced a reshuffle of its senior leadership, with Pigasse becoming global head of banking and deputy CEO of financial advisory while retaining his job as France’s chairman and chief executive.

In the May announcement, Lazard CEO Kenneth Jacobs said Pigasse was “central to our success in France and elsewhere” and that his new focus was to help the firm’s new CEO of financial advisory, Peter Orszag, to win more business globally.

Over the years he has advised on some of France’s biggest deals including the 2007 merger between Gaz de France and Suez.

“I admire and respect Matthieu Pigasse for all he has done for our clients and our global franchise,” Jacobs said in a statement.

“Matthieu has unfortunately decided to resign, and I want to thank him for his contribution and wish him every success as he turns to his new entrepreneurial endeavour”.

Pigasse, 51, is well-known in Paris business and media circles due to his shareholding in newspaper Le Monde and his business interests in Radio Nova and Les Inrockuptibles magazine.

(Reporting by Gwenaelle Barzic and Maya Nikolaeva; Editing by Angus MacSwan)

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