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内容简介:
A grand and revelatory portrait of Wall Street’s most storied
investment bank
Wall Street investment banks move trillions of dollars a year,
make billions in fees, pay their executives in the tens of millions
of dollars. But even among the most powerful firms, Lazard Frères
& Co. stood apart. Discretion, secrecy, and subtle strategy
were its weapons of choice. For more than a century, the mystique
and reputation of the "Great Men" who worked there allowed the firm
to garner unimaginable profits, social cachet, and outsized
influence in the halls of power. But in the mid-1980s, their
titanic egos started getting in the way, and the Great Men of
Lazard jeopardized all they had built.
William D. Cohan, himself a former high-level Wall Street banker,
takes the reader into the mysterious and secretive world of Lazard
and presents a compelling portrait of Wall Street through the
tumultuous history of this exalted and fascinating company.
Cohan deconstructs the explosive feuds between Felix Rohatyn and
Steve Rattner, superstar investment bankers and pillars of New York
society, and between the man who controlled Lazard, the inscrutable
French billionaire Michel David-Weill, and his chosen successor,
Bruce Wasserstein.
Cohan follows Felix, the consummate adviser, as he reshapes
corporate America in the 1970s and 1980s, saves New York City from
bankruptcy, and positions himself in New York society and in
Washington. Felix’s dreams are dashed after the arrival of Steve, a
formidable and ambitious former newspaper reporter. By the
mid-1990s, as Lazard neared its 150th anniversary, Steve and Felix
were feuding openly.
The internal strife caused by their arguments could not be solved
by the imperious Michel, whose manipulative tendencies served only
to exacerbate the trouble within the firm. Increasingly desperate,
Michel took the unprecedented step of relinquishing operational
control of Lazard to one of the few Great Men still around, Bruce
Wasserstein, then fresh from selling his own M&A boutique, for
$1.4 billion. Bruce’s take: more than $600 million. But it
turned out Great Man Bruce had snookered Great Man Michel when the
Frenchman was at his most vulnerable.
The LastTycoons is a tale of vaulting ambitions, whispered
advice, worldly mistresses, fabulous art collections, and enormous
wealth—a story of high drama in the world of high finance.
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书籍介绍
A grand and revelatory portrait of Wall Street’s most storied investment bank
Wall Street investment banks move trillions of dollars a year, make billions in fees, pay their executives in the tens of millions of dollars. But even among themost powerfulfirms, Lazard Frères & Co. stood apart. Discretion, secrecy, andsubtle strategy were its weapons of choice. Formore than a century, the mystique and reputation of the "Great Men" who worked there allowed the firm to garner unimaginable profits, social cachet, and outsized influence in the halls of power. But in the mid-1980s, their titanic egos started getting in the way, and the Great Men of Lazard jeopardized all they had built.
William D. Cohan, himself a former high-level Wall Street banker, takes the reader into the mysterious and secretive world of Lazard andpresents acompelling portraitof Wall Street through thetumultuous historyof this exalted and fascinating company. Cohan deconstructs the explosive feuds between Felix Rohatyn and Steve Rattner, superstar investment bankers and pillars of New York society, and between the man who controlled Lazard, the inscrutable French billionaire Michel David-Weill, and his chosen successor, Bruce Wasserstein.
Cohan follows Felix, the consummate adviser, as he reshapes corporate America in the 1970s and 1980s, saves New York City from bankruptcy, and positions himself in New York society and in Washington. Felix’s dreams are dashed after the arrival of Steve, a formidable and ambitious former newspaper reporter.By the mid-1990s, as Lazard neared its 150th anniversary, Steve and Felix were feuding openly.
The internal strife caused by their arguments could not be solved by the imperious Michel, whose manipulative tendencies served only to exacerbate the trouble within the firm. Increasingly desperate, Michel took the unprecedented step of relinquishing operational control of Lazard to one of the few Great Men still around, Bruce Wasserstein, then fresh from selling his own M&A boutique, for $1.4 billion. Bruce’s take: more than $600 million.But it turned out Great Man Bruce had snookered Great Man Michel when the Frenchman was at his most vulnerable.
The LastTycoons is a tale of vaulting ambitions, whispered advice, worldly mistresses, fabulous art collections, and enormous wealth—a story of high drama in the world of high finance.
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