Lazard says implementing cost savings initiatives The company says "“We are implementing cost saving initiatives to reduce the firm’s expense base and enhance our operating leverage. These include streamlining our support functions and eliminating investments in areas of low return. We expect these initiatives to result in approximately $125 million in annual savings from our existing cost base, with related implementation expenses primarily in the fourth quarter of this year. We believe these initiatives will improve profitability with minimal impact on Lazard’s revenue growth."
Trian Fund gives quarterly update on stakes NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).