Lazard CEO Kenneth Jacobs' 2020 pay slips 4% to $10M
Lazard reports 2020 executive compensation
By ExecPay News
Published: March 16, 2021
Lazard reported fiscal year 2020 executive compensation information on March 16, 2021.
In 2020, five Lazard executives received on average a compensation package of $7.5M, a 10% increase compared to previous year.
Average pay of disclosed executives at Lazard
Kenneth M. Jacobs, Chief Executive Officer, received $10M in total, which decreased by 4% compared to 2019. 69% of Jacobs' compensation, or $6.9M, was in stock awards. Jacobs also received $2.1M in bonus, $11K of change in pension value and nonqualified deferred compensation earnings, $900K in salary, as well as $97K in other compensation.
For fiscal year 2020, the median employee pay was $203,585 at Lazard. Therefore, the ratio of Kenneth M. Jacobs' pay to the median employee pay was 49 to one.
Ashish Bhutani, Chief Executive Officer, received a compensation package of $8.4M, which decreased by 7% compared to previous year. 50% of the compensation package, or $4.2M, was in stock awards.
Peter R. Orszag, Chief Executive Officer, earned $8.2M in 2020.
Alexander F. Stern, President, received $6.5M in 2020, which decreases by 5% compared to 2019.
Evan L. Russo, Chief Financial Officer, earned $4.5M in 2020, a 16% increase compared to previous year.
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Source: SEC filing on March 16, 2021.