Lazard CEO Kenneth Jacobs' 2019 pay slips 8% to $11M
Lazard reports 2019 executive compensation
By ExecPay News
Published: March 12, 2020
Lazard reported fiscal year 2019 executive compensation information on March 12, 2020.
In 2019, five Lazard executives received on average a compensation package of $6.9M, a 6% decrease compared to previous year.
Average pay of disclosed executives at Lazard
Kenneth M. Jacobs, Chief Executive Officer, received $11M in total, which decreased by 8% compared to 2018. 70% of Jacobs' compensation, or $7.4M, was in stock awards. Jacobs also received $2.1M in bonus, $14K of change in pension value and nonqualified deferred compensation earnings, $900K in salary, as well as $88K in other compensation.
For fiscal year 2019, the median employee pay was $195,170 at Lazard. Therefore, the ratio of Kenneth M. Jacobs' pay to the median employee pay was 54 to one.
Ashish Bhutani, Chief Executive Officer, received a compensation package of $9.1M, which decreased by 11% compared to previous year. 52% of the compensation package, or $4.7M, was in stock awards.
Alexander F. Stern, President, earned $6.8M in 2019, a 4% decrease compared to previous year.
Scott D. Hoffman, Chief Administrative Officer, received $4.1M in 2019, which decreases by 5% compared to 2018.
Evan L. Russo, Chief Financial Officer, earned $3.9M in 2019, a 11% increase compared to previous year.
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Source: SEC filing on March 12, 2020.