Global financial advisory and asset management firm Lazard has introduced a significant restructuring of its senior leadership following the completion of its approximately $575 million acquisition of Campbell Lutyens, marking an important step in integrating the two businesses into a unified private capital advisory platform.
The acquisition, officially completed on November 2, 2026, brings together Lazard's established private capital advisory operations and Campbell Lutyens' expertise in fundraising, secondary transactions, and private markets advisory. The combined business, operating under the name Lazard CL, represents a major expansion of Lazard's global investment advisory capabilities and forms a central component of its long-term growth strategy.
As part of the integration process, Lazard has assigned several senior executives from both organizations to joint leadership positions, creating a management structure designed to combine their respective expertise while maintaining continuity across key business divisions.
Among the most notable leadership changes, Campbell Lutyens executive Richard von Gusovius has taken on co-leadership responsibilities for global distribution and primary fundraising across Europe, the Middle East, and Africa (EMEA), working alongside Lazard executives Stephen Salyer and Nick Miles.
The appointments reflect the combined firm's commitment to strengthening its fundraising capabilities and expanding relationships with institutional investors across major international financial markets.
Meanwhile, Immanuel Rubin has assumed joint leadership responsibilities for secondary advisory operations covering EMEA and Asia-Pacific, alongside Nick Miles. This structure aims to bring together the expertise of both firms in advising investors and fund managers on secondary transactions, an increasingly important area of the private capital industry.
The restructuring also extends to the real assets division, where Richard Moore has taken on a joint leadership position in global primary fundraising alongside Lazard's James Jacobs. David Perrin has also been appointed to a co-leadership role within secondary advisory, reinforcing the group's focus on infrastructure, real estate, and other alternative investment markets.
In another significant appointment, Lazard executive Sarah Stewart has been named Head of EMEA Private Equity Fundraising, strengthening the firm's regional leadership and its ability to support private equity managers seeking institutional capital.
At the top of the newly established business, Gordon Bajnai, the former chief executive of Campbell Lutyens, and Holcombe Green, previously Lazard's Global Head of Private Capital Advisory, serve as Co-Chief Executive Officers of Lazard CL.
The combined platform brings together more than 300 advisory professionals across 19 offices worldwide, creating a substantial international presence spanning North America, Europe, the Middle East, and Asia-Pacific.
According to Lazard, the businesses have collectively advised on more than $1 trillion in primary capital raising and secondary transaction volume across approximately 1,300 mandates over the past four decades. The new platform also provides access to a network of approximately 4,000 institutional investors, supported by more than 60 dedicated investor distribution professionals.
The integration is expected to strengthen Lazard's ability to advise private equity firms, private credit managers, infrastructure investors, real estate funds, and institutional clients on a broad range of capital formation and liquidity solutions.
Beyond the operational benefits, the acquisition represents an important milestone in Lazard's 2030 strategy, which seeks to diversify revenue sources, expand its advisory capabilities, and establish a stronger position in the global private capital market.
Lazard has indicated that the combined private capital advisory business is expected to generate approximately $500 million in revenue in 2027 and contribute positively to earnings, before accounting for potential synergies resulting from the integration.
The leadership reshuffle highlights Lazard's efforts to establish a coordinated management structure while bringing together the capabilities of two established financial advisory organizations.
As private markets continue to evolve and institutional investors seek more specialized fundraising and liquidity solutions, the creation of Lazard CL positions the firm to compete for larger and more complex advisory mandates across global financial markets.
