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Peter Orszag

CEO | Financial Advisory

Lazard

New York, NY, USA

Peter Orszag
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John Grayken
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

Bloomberg
When Hospitals Buy Doctor Practices, Do Prices Always Rise?

Peter Orszag discusses the recent decline of doctors practicing on their own and how this shift might yield more benefits than expected.

Bloomberg
Investors Are Punishing the Polluters. Here’s Proof.

Peter Orszag and co-author Zachery Halem look at new data that demonstrates how corporate valuations fall when greenhouse-gas emissions rise. In addition, they discuss a correlation between investor response and a market incentive for companies to lower emissions.

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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

Virtual Program with Dr. Peter R. Orszag
Featured Talk
May 2020
Chicago, IL, USA
In this virtual discussion hosted by The Economic Club of Chicago, Peter Orszag discussed the current state of the economy, fiscal responsibility and the impact of the COVID-19 pandemic on health care policy.

Interviews

Powell-Brainard a Fed ‘Dream Team,’ Says Lazard CEO Orszag
Nov 2021
New York, NY, USA
Lazard's Peter Orszag joins Bloomberg to share his thoughts on President Biden renominating Jerome Powell as Federal Reserve Chair and Lael Brainaird as Fed Vice Chair.
Lazard Financial Advisory CEO Peter Orszag on corporate tax rate proposal
Sep 2021
New York, NY, USA
Peter Orszag joins CNBC to discuss the recent proposal from House Democrats to raise the corporate tax rate to 26.5 percent.
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Publications

Three Reasons for Optimism About Climate Change
Co-author
Nov 2021
New York, NY, USA
Peter Orszag and George Bilicic discuss some key points from the international climate summit in Glasgow, noting three reasons for optimism about the shift away from fossil fuels: the continued decline in the cost of renewable energy, the improvement of energy storage options and hydrogen-based energy sources.
How Superstar Firms Win Big From Low Interest Rates
Author
Oct 2021
New York, NY, USA
Citing new research from the National Bureau of Economic Research, Peter Orszag discusses how low borrowing costs inordinately benefit the top 5% of companies within each industry.
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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

Health Evolution Summit
Featured Speaker
Aug 2021
Dana Point, CA, USA
Peter Orszag took part in a panel titled ‘Now what? Health care gets down to business’ alongside other prominent business leaders and healthcare experts. among other topics, the panel discussed how the reduction in non-COVID care during 2020-2021 will yield more insight into the realities of care costs and outcomes.
In Defense of Public Debt
Panel member
Sep 2021
Peter Orszag joined a panel of distinguished guests to discuss Barry Eichengreen’s new book, In Defense of Public Debt, at a book release hosted by the Peterson Institute for International Economics (PIIE).
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Peter’s Education

Princeton University
A.B. | Economics
1987 - 1991
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