Boston, MA 06/18/2014 (wallstreetpr) – The financial advisory firm Lazard Ltd (NYSE:LAZ) is busy making the monthly distribution of its funds. Along with it, the company is offering its services to the other financial services firm. In a recent news, Guggenheim Partners LLC has hired Andrew Booth of Lazard Capital for its financial company. Lazard Capital was a part of Lazard Ltd. Till 2005. Andrew Booth will head leveraged finance. Guggenheim Partners is a big financial firm with more than $210 billion for asset’s management.
The new role
Lazard’s Booth will now shift to New York. He will take care of the leveraged finance. The main task will be to handle the origination, underwriting and syndication process. The products covered will be loans and high-yield bonds. Booth has got immense work experience of working in the same field. He has also got the work experience of working with a reputed firm like Jefferies Group LLC. Booth is a man with experience and expertise.
It can be of great use in the new firm. He has got expertise in creating a well balanced and leveraged platform of the offerings including the underwritten and other syndicated finance products. The need is always of creating the right mix. Any imbalance can have a negative impact on the performance of the financial services company. After all, it is all about numbers. The experience and expertise of Booth will help the advisory company to focus on its investment banking business. Already the company is focusing on the expansion of leveraged finance by raising high yield high risk debt. It is all about taking the benefits of interest rates that are still kept at zero.
Investment banking operations
It is not the first time Guggenheim is working with Lazard. Previously, it has acquired Lazard Ltd (NYSE:LAZ)’s fixed income business. It acquired Lazard Capital in the year 2005. The focus right from the start was on expansion of investment banking operations.
