New leadership shouldn’t compromise Lazard’s established strengths. It maintains its Above Average Parent rating.
Chris Hogbin became CEO of Lazard Asset Management in December 2025. Hogbin succeeds Evan Russo, who was appointed to the role in June 2022 after serving as Lazard's CFO. Hogbin joins Lazard Asset Management with 30 years of industry experience, including the past 20 at AllianceBernstein, where he was global head of investments and a member of the executive leadership team.
Hogbin is expected to concentrate his efforts around making the existing business and strategies better while looking for opportunities for growth. For its larger division, Lazard Asset Management, strengths reside in equity franchises—especially global listed infrastructure and emerging markets. Its French affiliate, Lazard Frères Gestion, is known for its fixed-income and convertibles capabilities. In December 2025, the firm managed USD 254 billion in assets; about half of that was in Lazard Asset Management's global and international equities, and roughly one-fifth resided with the French entity. Fixed income and multi-asset are smaller pieces of the pie but represent opportunities for expansion. Lazard doesn't often drift beyond its wheelhouse, and its investment teams are a model of stability and tenure. Manager succession is generally planned well in advance, and a career-analyst track has aided retention.
After launching its first exchange-traded fund in 2024, the firm launched five more in 2025, with intentions to grow the lineup further. Former State Street executive Robert Forsyth was hired as the global head of ETFs to lead this initiative. Liquid alternatives and private markets account for a small minority of assets at Lazard Asset Management and Lazard Frères Gestion, so the firm is unlikely to be a substantive player in this space. That said, Lazard is open to select acquisitions, partnerships, or team lift-outs. In April 2024, for example, it entered a partnership with Elaia Partners, a European venture capital firm, to expand its venture capital presence in Europe.
Note: This share class' Parent Pillar rating is analyst-driven, as its Branding Name, Lazard (Branding Name ID: BN0000099F), is covered by Morningstar Manager Research.
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