NEW YORK, Dec 11 (Reuters) - Investment bank Lazard's ( LAZ )
CEO, Peter Orszag, predicted a surge in dealmaking
momentum to continue into next year, helped by private equity
activity.
Wall Street executives have expressed optimism that the
incoming Trump administration will usher in deregulation and
more openness to mergers and acquisitions. The bullish views
come as investment banking activity recovers from a two-year dry
spell.
"There were a lot of large transactions that were being
informally discussed that now are more in 'let's see if we can
really make this happen,' and that's pretty much across the
board," Orszag said in an interview on Wednesday at the Reuters
NEXT conference in New York.
President-elect Donald Trump, who takes office on Jan. 20,
has said he will slap 25% tariffs on imports from Mexico and
Canada, as well as additional duties on Chinese goods, which
would hit companies in sectors from autos to retail and has
sparked concern among investors.
"There may have been a lot of rhetoric, but when you get to
governing and want to make sure that inflation doesn't begin to
spike, things will be done in a more tempered manner," Orszag
said.
He was also bullish about Lazard's ( LAZ ) prospects for next year.
New York-based Lazard's ( LAZ ) financial advisory revenue climbed
39% in the third quarter to $371 million, driving a 50% jump in
revenue to $785 million.
Lazard ( LAZ ) was the ninth-most active investment bank in global
M&A in the first nine months of the year, ranked by fees,
according to data from Dealogic.
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