Lazard appoints Geoffrey Porges as managing director in healthcare

NEW YORK - Lazard (NYSE:LAZ), the $5.25 billion market cap financial advisory firm with a robust 10% revenue growth over the last twelve months, announced Thursday the appointment of Dr. Geoffrey Porges as Managing Director in its Healthcare Advisory Group, where he will focus on transactions across the diversified biopharmaceuticals sector. According to InvestingPro data, the company maintains strong financial health with a "GOOD" overall rating.

Porges brings over 30 years of experience in advisory, executive, and investment roles within the biopharmaceutical industry. He most recently served as Executive Vice President and Chief Financial Officer at Schrödinger, overseeing financial operations, investor relations, corporate communications, strategic planning, and business development.

Prior to his role at Schrödinger, Porges headed biopharma equity research at SVB Leerink and worked as a senior biotechnology equity research analyst at Sanford C. Bernstein. He has also held senior positions at BTG PLC and Merck & Co.

"His deep understanding of the biopharmaceutical industry’s strategic and financial landscape, coupled with his ability to help companies translate scientific innovation into actionable business strategies, will empower our clients," said David Gluckman, Vice Chairman of Investment Banking and Global Head of Healthcare at Lazard, in a press release statement.

Porges holds a medical degree from the University of Sydney and an MBA from Harvard Business School, where he was a Baker Scholar.

Founded in 1848, Lazard provides financial advisory and asset management services across global markets. The firm advises on mergers and acquisitions, capital markets, restructuring, and other strategic matters, while also offering asset management and investment solutions to various clients including institutions, corporations, and governments. Notable for its 21-year track record of consistent dividend payments, the company currently offers a 3.6% dividend yield. Discover more insights about Lazard and 1,400+ other companies through comprehensive Pro Research Reports available on InvestingPro.

In other recent news, Lazard, Inc. reported its preliminary assets under management reached approximately $253.7 billion as of July 31, 2025. This marks an increase from $248.4 billion at the end of June, driven by net inflows of $4.5 billion and market appreciation of $3.9 billion, partially offset by foreign exchange depreciation of $3.2 billion. Additionally, Lazard announced a cash tender offer for all outstanding 3.625% Senior Notes due March 1, 2027, through its subsidiary Lazard Group LLC. The offer is set to expire on August 1, 2025, unless extended or terminated. In a related development, Keefe, Bruyette & Woods raised its price target for Lazard to $60.00 from $57.00, maintaining a Market Perform rating. The firm cited expectations for higher revenue and a lower compensation ratio in 2026, following Lazard’s second-quarter earnings beat. Meanwhile, Lynn Forester de Rothschild is exploring the sale of a significant minority stake in The Economist Group, with an estimated value between £200 million ($271 million) and £400 million. Finally, Lazard appointed Christopher Hogbin as CEO of Lazard Asset Management, effective December 2025, succeeding Evan Russo. Hogbin brings extensive experience from his previous role as Global Head of Investments at AllianceBernstein.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.