'Mass Exodus' Watch '13: Lazard Capital Markets

Author:
Publish date:
Updated on

According to Charlie Gasparino, the people of LCM are considering their options elsewhere.

“Sources are telling the FOX Business Network that there is a mass exodus out of Lazard Capital Markets by employees," Gasparino said. "They feel that the firm is either going to do one of three things: sell itself to somebody else where they’ll do a massive downsizing or basically look for refinancing which is very difficult or shut down. Lazard tells us they’re still open for business, there’s no plans to imminently close…if you talk to anybody that works there they say the place is basically on its last legs."

'Mass Exodus' at Lazard Capital Markets - FBN [SI via BI]

Related

Bonus Watch '13: SAC Capital

Back in December, a bunch of recruiters made the bold claim that following the government's charges against former portfolio manager Mathew Martoma, SAC Capital employees were, if not giving them the time of day, at least waiting a few seconds longer before hanging up the phone. At another firm, the turn events probably would have been cause for concern that the staff would be abandoning ship in short order. Since we're talking about SAC, though, we figured not only would The Big Guy & Co not be concerned about the prospect of mass resignations but would take the opportunity to remind people that this is SAC Capital and at SAC Capital, they don't receive resignation letters, they only issue pink slips, lest anyone be getting any ideas. So you can imagine our shock and horror to find out this happened: