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Lazard Freres & Co., one of Wall Street's most lucrative partnerships, is expected to announce new partners this week. Sources said the new partners will include bankers Steven Niemczyk, Peter Erzersky, Steven Langman, and Matt Lustig, as well as trader Vincent Perez. Niemczyk, a banker who specializes in financial institutions, began his career at Salomon Brothers, where he was one of the firm's experts on securitization. Erzersky, a young investment banker specializing in the hot media field, will also be named partner, according to sources. Erzesky is said to be working on the current bidding war for Paramount Communications. An investment banker outside Lazard said Erzesky has worked closely with Lazard's star media banker Steven Rattner. The rise of a Rattner colleague is likely to fuel speculation that the banker who joined Lazard is 1989 is becoming more powerful at the firm.
Lazard Freres & Co., one of Wall Street's most lucrative partnerships, is expected to announce new partners this week. A spokesperson for the firm declined to confirm any names, but sources said four bankers and one trader are expected to be on the list.
Sources said the new partners will include bankers Steven Niemczyk, Peter Erzersky, Steven Langman, and Matt Lustig, as well as trader Vincent Perez.
The close-mouthed Lazard rarely releases any information about changes in hierarchy or assignments within the firm. As a result, Wall Street observers try to read the tea leaves in the firm's partner selections. The firm reviews candidates every year, but it does not always choose new partners. Last year, it named three.
Niemczyk, a banker who specializes in financial institutions, began his career at Salomon Brothers, where he was one of the firm's experts on securitization. A former Salomon official said Niemczyk worked on some of the original asset-backed deals. After Salomon, Niemczyk spent a couple years at the Blackstone Group. Sources said he was recruited to Lazard by Ken Wilson, another ex-Salomon banker who is now a partner at Lazard.
Erzersky, a young investment banker specializing in the hot media field, will also be named partner, according to sources. Erzersky is said to be working on the current bidding war for Paramount Communications. An investment banker outside Lazard said Erzersky has worked closely with Lazard's star media banker Steven Rattner. The rise of a Rattner colleague is likely to fuel speculation that the banker who joined Lazard in 1989 is becoming more powerful at the firm.
Two other Lazard bankers should also be on the new partnership list, sources said: Steven Langman, a general banker, and Matt Lustig, a real estate specialist.
Vincent Perez, a trader specializing in emerging markets, will also be named partner, according to officials.
Copyright Investment Dealers' Digest, Inc. Dec 6, 1993