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Monday, July 25, 2011

Lazard hires ex-UBS financial services banker Howe, (NYSE: LAZ), (UBSN), (BARC)

Lazard Ltd (LAZ.N) said on Monday it hired former UBS AG (UBSN.VX) investment banker Gary Howe as head of financial institutions advisory in North America. Howe, who will be based in New York, was previously co-head of UBS financial institutions group in the Americas. He left UBS in May and has been on leave in between jobs. UBS has seen scores of investment bankers leave in the last three years as the financial crisis hit the Swiss bank hard and forced it to put unpopular curbs on compensation. UBS has, however, been hiring bankers to rebuild its ranks. Separately on Monday, UBS said it had hired Michael Konigsberg, a former Barclays Capital (BARC.L) banker, as Americas head of leveraged finance.

Lazard Limited (Lazard) is a financial advisory and asset management Company. Shares of LAZ fell by 1.17% or $-0.43/share to $36.17. In the past year, the shares have traded as low as $29.13 and as high as $46.54. On average, 816356 shares of LAZ exchange hands on a given day and today's volume is recorded at 429754.