LONDON -- Lazard, Inc. (NYSE: LAZ) announced that Klaus H. Hessberger has been appointed to the firm as Managing Director, Global Co-Head, and Head of Europe for Lazard’s Financial Sponsors Group, based in London.

Adam Cady, previously Lazard’s Head of Large-Cap Financial Sponsor Coverage North America in New York, has also been named Global Co-Head of the Global Financial Sponsors Group, running the team together with Klaus.

These appointments reflect Lazard’s expanding connectivity and partnership with alternative asset managers, which continues to be a principal area of focus and a major source of future growth for the firm globally. Lazard’s recruiting efforts are also a key contributor to the firm’s long-term growth goals, with ongoing success in attracting top tier talent globally.

“Klaus is a recognised leader in the global financial sponsor community with an impressive track record of advising global alternative asset managers and leading teams of highly experienced industry professionals,” said Peter R. Orszag, CEO and Chairman. “Together with Adam, who has played a pivotal role in managing Lazard’s relationships with the world’s largest alternative asset managers, we are well-positioned to further advance our market-leading offering to financial sponsor clients in Europe and globally.”

“I’m thrilled to join Lazard, a firm with a rich history and an unparalleled reputation for excellence in advising financial sponsor and corporate clients around the world. Lazard’s leading global industry, sector and product platform and innovative approach ensure the firm’s clients succeed in an increasingly complex investment landscape. Working alongside Adam and the talented team, I’m excited to build on Lazard’s strong foundations and deliver meaningful results for our clients,” said Klaus H. Hessberger.

Before joining Lazard, Klaus held various prominent roles over 25 years with J.P. Morgan, helping to build and co-running their market-leading European and later Global Financial Sponsors franchise, initially as European and later Global Co-Head. Klaus has most recently served as Vice Chair of the Global Financial Sponsors and Strategic Investors Coverage Group at J.P. Morgan.

In these roles, Klaus covered top-tier global financial sponsor and strategic investor clients, including private equity and infrastructure funds, family offices, sovereign wealth and pension funds. In addition to his Financial Sponsor track record, Klaus brings a broad range of global industry sector and capital markets expertise, having previously co-run J.P. Morgan’s Equity Capital Markets origination business in EMEA for nine years.

Adam Cady has nearly three decades of experience in investment banking and capital markets. Prior to joining Lazard’s New York office in February 2024, Adam held various senior positions at Bank of America, departing as Managing Director and Head of Americas Financial Sponsors Group. He started his career as a leveraged finance professional at Merrill Lynch and NationsBank.