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Lazard Capital staff exodus accelerates with Stephens circling

By
Mark DeCambre
Published Oct. 22, 2013, 10:45 a.m. ET

Rivals are looking to poach from Lazard Capital Markets amid speculation that it is struggling to stay in business.

The closely held firm, which revealed in May that it is exploring options including a sale, stands to lose nearly a dozen traders and research analysts to Stephens Inc., The Post has learned.

Stephens, an 80-year financial services firm based in Little Rock, Ark., is said to be close to agreements to lure away 10 Lazard Capital staffers.

Lazard Capital, which was spun off from publicly traded advisory business Lazard Ltd., has denied that it is on the brink of shutting down despite persistent rumors and a growing exodus of staffers.

Lazard Capital has maintained that it’s “business as usual.” A call to Lazard Capital spokesman wasn’t immediately returned.

Nevertheless, competitors smell blood and have been eager to poach talent.

FBR Capital Markets, an Arlington, Va.- based investment bank, recently hired nearly 30 employees from Lazard Capital, including six senior research analysts, six sales traders, three position traders and four institutional salesmen, according to Bloomberg News.