Lazard’s Restructuring Work Rises From Trump Tariff Pressures

Lazard Inc. is seeing an increase in firms looking to manage their liabilities as uncertainty around President Donald Trump’s tariff agenda rocks the global economy.

The investment bank is seeing more activity coming from clients looking to navigate early-stage restructuring questions, known as liability management. That trajectory will depend on whether trade deals get done during Trump’s 90-day pause on tariffs, according to Chief Executive Officer Peter Orszag.

Peter Orszag

Photographer: Aaron M. Sprecher/Bloomberg

“There has been a notable shift, and it’s mostly liability management,” Orszag said in a phone interview Friday. Still, he cautioned, “we are humble on what might happen from ...