Investment Banking

Giant oil merger no cure-all for Lazard’s dealmakers

February completion of Shell’s £47bn takeover of BG couldn’t prevent a year-on-year fall in M&A revenues at storied advisory firm

Shell's takeover of BG Group was not enough to pump up Lazards Q1 revenues
Shell's takeover of BG Group was not enough to pump up Lazards Q1 revenues Photo: iStockPhoto

The completion of Royal Dutch Shell’s £47 billion takeover of BG Group – the largest M&A deal to close during the first three months of 2016 – could not prevent Shell adviser Lazard from becoming another casualty of a torrid first quarter on Wall Street.

Lazard's total revenues fell by 13% year on year to $506 million in the first quarter, according to earnings published on April 21.

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