Lazard Asset Management has named Christopher Hogbin as CEO, effective December.
The firm holds approximately US$248 billion in assets under management (AUM).
Hogbin replaces Evan Russo, who will move to an advisory role after more than 15 years with the company.
Lazard’s CEO and chairman Peter Orszag commented, “We see this year as an inflection point for our asset management business, as we continue to build on our momentum and position the firm to meet evolving client needs. Chris’s leadership and success in growing a global investment business will help us to now accelerate progress toward our long-term strategy for Lazard.”
Earlier this year, Eric Van Nostrand was named global head of markets and chief economist at the firm.
READ MORE: Lazard AM hires Eric Van Nostrand
Hogbin joins Lazard from AllianceBernstein, which by comparison holds a reported US$785 billion in AUM. He spent more than 20 years with the company, most recently serving as global head of investments. Prior to this, he was head of equities at the firm.
An AllianceBernstein spokesperson told Global Trading: “[We] will not be filling the global head of investments role at this time. Our public market investment teams will report to Seth Bernstein, our president and CEO. Our private market investment teams will report to Onur Erzan, head of client group and private wealth.
Earlier in his career, Hogbin was a manager at Boston Consulting Group.
