Lazard Oh la vache!

Paris is Lazard’s European hub, according to the investment bank’s boss, Bruce Wasserstein. But it’s a pretty rickety hub judging by the latest M&A stats. Lazard ranks 16th in French M&A so far this year, according to Bloomberg research. That’s a market share of just 5%, against more than 50% six years ago. Lazard would doubtless have it that this is just a snapshot capturing a run of bad luck. After all, the firm missed out the France Telecom bid for Grupo Auna because it backed the wrong hors...