Louis Girodolle has his job cut out given the challenging market environments as well as the need to retain clients in the wake of Matthieu Pigasse’s resignation as the bank’s CEO and chairman.
In a statement 171-year-old bank Lazard said, it has appointed Louis Girodolle as CEO of Lazard Investment Banking in France. The development comes just a week after the resignation of Matthieu Pigasse, who was the bank’s CEO as well as its chairman.
The development assumes significance, since this is a critical appointment as the Lazard needs to retain clients and its market share in Europe after Pigasse’s departure; it also needs to cope with a slowing pipeline of merger and acquisition (M&A) deals.
Lazard is also under pressure from U.S. boutique banks such as Centerview and Evercore, which are looking to open offices in Paris and have poached some of Lazard’s dealmakers including Nicolas Constant.
Girodolle joined Lazard in 2007 and he primarily advises companies on M&A and financial transactions. Previously, he worked at the French APE state holding company and at the finance ministry.
In a statement, Lazard also stated it had also appointed Charles-Henri Filippi and François Kayat as co-chairs.
Filippi joined Lazard in 2018 from Citigroup. He also has work experience at HSBC and Credit Commercial de France.
Kayat joined Lazard in 2010 from Credit Agricole CIB. Previously, he chaired the European Mergers and Acquisitions Group of Credit Suisse First Boston.
Founded in New Orleans in 1848 by three French brothers, Lazard opened its Paris Investment Banking office in 1854. Today, it is one of the firm’s principal investment banking offices, and the base of several global investment banking businesses, in particular sovereign advisory, Africa/Middle East and Central & Eastern Europe advisory.
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