Bruce Wasserstein, one of the all-time investing banking heavyweights, just passed away. The Lazard (LAZ) CEO was recently hospitalized with an irregular heartbeat, though his cause of death remains undetermined.
The question now becomes, can anyone remaining at Lazard fill his shoes? Bruce brought in an awful lot of talented bankers since joining the company but his value couldn’t possibly be measured.
He also leaves behind a legacy. For better or worse, he was one of the architects of the mega-deal age of investment banking in the 1980’s at First Boston, and later, at Wasserstein Perella.
My heart goes out to his family.