Lazard Hires Marcel Herter as Head of Debt Advisory in Germany

2008-08-08 10:03:03 -

- Lazard Ltd Richard Creswell, +44 207 187 2305 richard.creswell@lazard.com or For Lazard Ltd Lutz Golsch, +49 69 92037 110 l.golsch@abfd.de Lazard Ltd (NYSE:LAZ) announced today that Marcel Herter has joined the firm as a Managing Director and Head of Debt Advisory in Germany, effective August 1. Mr Herter joins Lazard from Dresdner Kleinwort, where he was Head of Leveraged Finance for Germany, Austria and Switzerland. Based in Frankfurt, Mr. Herter will provide debt advisory services in the German-speaking countries.

The Debt Advisory team in Europe advises clients on debt financing requirements concerning acquisitions, disposals, refinancing, capital structuring and fund raising. With the hire of Mr Herter, Lazard continues to expand its pan-European debt advisory capabilities following the recent hire of Michael Grayer as Head of Debt Advisory in London. Mr Herter will work closely with Mr Grayer and other senior members of the Debt Advisory practice across Lazard's European network, as well as with Richard Stables, European Head and Global co-Head of Restructuring.

"Marcel is widely recognized as a first-rate advisor in the areas of leveraged financing and all debt-related issues. Having built a successful career in various credit and origination functions over a period of nearly two decades, he adds a critical new capability to our German operations at a time when debt advisory is becoming increasingly valuable to many clients," said Ernst Fassbender, Co-Head of Investment Banking in Germany.

As Head of Leveraged Finance of Dresdner Kleinwort, Mr. Herter arranged a large number of major buyout transactions over the past years. Prior to this, he led the syndication of leveraged loans and was Head of Loan Distribution at Dresdner Bank. Overall, he spent 19 years at Dresdner Kleinwort and Dresdner Bank in various credit and origination functions.

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 40 cities across 23 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, restructuring and capital raising, as well as asset management services to corporations, partnerships, institutions, governments, and individuals. For more information on Lazard, please visit www.lazard.com.

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(LAZ-G)

New Managing Director to Serve Germany, Austria and Switzerland