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Peter Orszag

CEO | Financial Advisory

Lazard

New York, NY, USA

Peter Orszag
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Lone Star Funds

Peter’s Biography

Peter R. Orszag is CEO of Financial Advisory at Lazard Frères & Co LLC. Lazard’s financial advisory group serves companies and governments all over the world. Before serving as CEO, Peter was the firm’s head of North American Mergers and Acquisitions and Global Co-Head of Healthcare.

He previously served as Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup. In addition to being a contributing writer for Bloomberg, Peter has co-authored and co-edited multiple books, including An American Economic Policy in the 1990s (2002), Saving Social Security: A Balanced Approach (2004) and Protecting the Homeland (2006). He was also a Distinguished Visiting Fellow at the Council on Foreign Relations and contributing columnist at the New York Times.

His public sector service was built upon his economic and healthcare expertise. During his time in the Obama administration, Peter held a cabinet-level position as the Director of the Office of Management and Budget (OBM) from January 2009 to July 2010. He was also the Director...
Peter R. Orszag is CEO of Financial Advisory at Lazard Frères & Co LLC. Lazard’s financial advisory group serves companies and governments all over the world. Before serving as CEO, Peter was the firm’s head of North American Mergers and Acquisitions and Global Co-Head of Healthcare.

He previously served as Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup. In addition to being a contributing writer for Bloomberg, Peter has co-authored and co-edited multiple books, including An American Economic Policy in the 1990s (2002), Saving Social Security: A Balanced Approach (2004) and Protecting the Homeland (2006). He was also a Distinguished Visiting Fellow at the Council on Foreign Relations and contributing columnist at the New York Times.

His public sector service was built upon his economic and healthcare expertise. During his time in the Obama administration, Peter held a cabinet-level position as the Director of the Office of Management and Budget (OBM) from January 2009 to July 2010. He was also the Director of the Congressional Budget Office (CBO) from January 2007 to December 2008. At the CBO, Peter led the agency to strengthen its commitment to healthcare and combating climate change.

Peter serves on the Board of New Visions for Public Schools, a nonprofit that promotes access to high-quality education for all NYC public school students, regardless of economic status, and is a board member of Mt. Sinai Medical Center and Peterson Institute for International Economics. He is also a member of the National Academy of Medicine, a nonprofit that advises on global issues of health, medicine and related policy.

An alumnus of Princeton University, Peter graduated summa cum laude with a BA in Economics, later earning a PhD in Economics from The London School of Economics, which he attended as a Marshall Scholar. He holds an honorary doctorate from Rensselaer Polytechnic Institute.
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Peter’s Newsfeed

Lazard
Lazard Hosts Inaugural Climate and Energy Transition Conference

Peter Orszag delivered the opening remarks, saying "I would like to highlight the really powerful opportunity that the United States and Europe have together to drive the energy transition as a super-bloc."

The New York Times
Lazard Names Peter Orszag to Succeed Ken Jacobs as C.E.O.

Lazard announced on Friday that Peter Orszag, who leads its core financial advisory business, will succeed Ken Jacobs as the company’s chief executive on Oct. 1. Mr. Jacobs will stay on as executive chairman and continue to advise clients.

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Peter’s Background

Lazard
CEO | Financial Advisory
Jun 2019 - Present
New York, NY, USA
Lazard is a global firm with a focus on two key business groups: Financial Advisory and Asset Management. The firm has consistently been recognized as one of the top 10 advisors on deals globally.
Bloomberg Opinion
Columnist
2011 - Present
New York, NY, USA
Bloomberg connects decision makers to a dynamic network of business and financial information, news, ideas and people around the world.
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Current Board Positions

Peterson Institute for International Economics
Board of Directors
2011 - Present
Washington, DC, USA
Founded in 1981, the Peterson Institute for International Economics (PIIE) is a private, non-partisan and non-profit research institution. PIIE is focused on the study of international economic policy, and it researches emerging issues and provides analysis to inform and shape public debate. Its work informs government officials and legislators, business leaders, the media and the global public.
Mount Sinai Medical Center
Board of Directors
New York, NY, USA
The Mount Sinai Health System is an integrated health care system focused on providing the highest level of medical care to local and global communities. Mount Sinai is internationally recognized for its high quality of research, patient care and education in a wide range of specialty areas.

Previous Board Positions

Council of Economic Advisors
Senior Advisor and Senior Economist
Washington, DC, USA
The Council of Economic Advisors, an agency within the Executive Office of the President, is charged with offering the President objective economic advice for domestic and international economic policy.
Brookings Institution
Senior Fellow
2000 - 2006
Washington, DC, USA
Brookings experts conduct high-quality, independent research and produce innovative policy solutions for the nation and world. Brookings is proud to be ranked as the most influential, most quoted and most trusted think tank.

Philanthropy

New Visions for Public Schools
Board of Directors
New York, NY, USA
New Visions for Public Schools are dedicated to ensuring that all New York City public school students, regardless of race or economic class, have access to high-quality education to prepare them for the rigors of college and the workforce.
Robert Wood Johnson Foundation
Board of Directors
2011 - 2017
Princeton, NJ, USA
The Robert Wood Johnson Foundation is focused on improving health care and wellness to all citizens in the U.S., regardless of socioeconomic status. The foundation's goal is to provide people with a fair opportunity to maximize their health and well-being and to build a National Culture of Health. .

Media

Lazard Names Peter Orszag as Next CEO
May 2023
New York, NY, USA
Peter Orszag will take the helm at Lazard on October 1st, with departing CEO Ken Jacobs taking on the role of Executive Chairman.
Silicon Valley Bank faces ‘classic run on a bank’, says Lazard’s Peter Orszag
Mar 2023
New York, NY, USA
Peter Orszag joins CNBC’s “Squawk Box” to discuss Friday’s premarket action and the potential fallout from trouble at Silicon Valley Bank.
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Interviews

Peter Orszag: Davos seems a bit more downcast than usual this yea
Jan 2023
Peter Orszag, Lazard Financial Advisory CEO, joins ‘Squawk Box’ to discuss what Orszag thinks will happen on the debt ceiling, what’s happening in Davos, and more.
Lazard Financial Advisory CEO on Rates, Inflation
Feb 2023
New York, NY, USA
Peter Orszag discusses his predictions of a "wave of refinancing" in 2024 and 2025. The disinflationary process occupies a lot of discussions the CEO is having as it continues to drive liquidity in the market.
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Publications

Central banks should beware the dangers of over-tightening
Author
Dec 2022
London, UK
Peter Orszag shares his thoughts on the Federal Reserve and European Central Bank's current tightening cycles.
Threats to weaponize the debt ceiling are more dangerous than ever
Author
Nov 2022
Washington, DC, USA
In this Op-ed for the Washington Post, Peter Orszag discusses the myriad reasons why the debt ceiling should be raised before control of the House changes.
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Memberships

National Academy of Medicine
Member
2008 - Present
Washington, DC, USA
The National Academy of Medicine (NAM) is one of three academies that make up the National Academies of Sciences, Engineering and Medicine in the U.S. The National Academies are private, nonprofit institutions that conduct impartial research, conduct thorough analysis and provide objective advice on science, technology and health related issues.

Speaking Engagements

Duke-Margolis 2022 Inaugural Health Policy Conference
Moderator
Apr 2022
Durham, NC, USA
Peter Orszag welcomed notable names in the healthcare industry, Elizabeth Fowler, Dan Mendelson, and Frederick Isasi, for a panel titled 'Accelerating Health Care Transformation'.
2022 SIEPR Economic Summit
Panel member
Mar 2022
Peter Orszag joined leading economic policy experts for a panel titled 'Federal spending: Where should the money go?' The panel discussed relief packages, managing budget deficits, and, among other related topics, current inflation concerns and the crisis in Ukraine.
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Peter’s Education

Princeton University
A.B. | Economics
1987 - 1991
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