Lazard Ltd (Lazard) is a holding company. Lazard is a financial advisory and asset management company. The Company operates in two segments: Financial Advisory and Asset Management. Lazard has diverse set of clients around the world, including corporations, governments, institutions, partnerships and individuals. As of December 31, 2012, Lazard operated from 42 cities in business and financial centers across 27 countries throughout Europe, North America, Asia, Australia, the Middle East and Central and South America. During the year ended December 31, 2012, the Financial Advisory segment�s net revenue totaled approximately 55%, of its consolidated net revenue. During 2012, its Asset Management segment�s net revenue accounted for approximately 47% of its consolidated net revenue.