Parsons Joins Lazard Board – NYTimes.com

Parsons Joins Lazard Board – NYTimes.com.

Parsons Joins Lazard Board - NYTimes.com

One might have thought that after 16 years on the board of Citigroup — and one terrifying financial crisis — Richard D. Parsons would have had his fill of financial firms.

But on Tuesday, the investment bank Lazard said Mr. Parsons had joined the firm’s 12-member board, which includes directors like Michael J. Turner, a former chief executive of BAE Systems, and Vernon Jordan.

Mr. Parsons, 64, a former chief executive of Time Warner, served as chairman of Citigroup from 2009 until stepping down in April. He is also on the boards of Estée Lauder and Madison Square Garden.

Lazard’s core business is its advisory work on mergers and acquisitions, and Mr. Parsons brings a wealth of experience and connections when it comes to deal-making. He also serves as a senior adviser to the private equity firm Providence Equity Partners

In April, Lazard reported a 9 percent rise in revenue, but expenses weighed on its earnings.

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