The Marque The Marque

Peter Orszag

Chief Executive Officer

Lazard

New York, NY, USA


Peter Orszag
Ben Francis
Gymshark
John Grayken
Lone Star Funds

Peter’s Biography

Peter R. Orszag is the Chief Executive Officer at Lazard Frères & Co LLC. Before serving as Chief Executive Officer, Peter served as CEO of the firm's Financial Advisory group, which serves companies and governments globally, among other roles.

Prior to Lazard, Peter served as Vice Chairman of Corporate & Investment Banking and Chairman of the Financial Strategy & 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...
Peter R. Orszag is the Chief Executive Officer at Lazard Frères & Co LLC. Before serving as Chief Executive Officer, Peter served as CEO of the firm's Financial Advisory group, which serves companies and governments globally, among other roles.

Prior to Lazard, Peter served as Vice Chairman of Corporate & Investment Banking and Chairman of the Financial Strategy & 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

CNBC
Lazard CEO Peter Orszag: The Fed likely won't cut rates until 'very late' 2024, early into 2025

Peter Orszag joins 'Squawk Box' to discuss the latest market trends, state of the U.S. economy, the Fed's rate cut timeline, M&A outlook, and more.

Fortune
Peter Orszag says AI predictions will be ‘invariably wrong’ and the ‘track record is terrible.'

Speaking at the Fortune Global Forum in Abu Dhabi, Orszag proposed a few predictions after saying: “With any big new technology, comments that are made at this kind of stage with regard to what then subsequently happens are invariably wrong.”

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Peter’s Background

Lazard
Chief Executive Officer
Oct 2023 - 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. Peter also served as CEO of Financial Advisory from June 2019 to October 2023.
 
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

The American banking landscape is on the cusp of a seismic shift. Expect more pain to come.
Quoted
Jul 2023
New York, NY, USA
Peter Orszag shares his thoughts on the difficulties and pressure that regional and midsized banks currently face.
 
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.
 
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Interviews

Lazard CEO: The U.S. now has an opportunity to reengage in the fiscal trajectory debate
Nov 2023
New York, NY, USA
Peter Orszag joins 'Squawk on the Street' to discuss the impacts of recent geopolitical events on deal-making, whether there will be a pickup in deal activity with more rate stabilization and more.
 
Do not underestimate the ‘mega-Brussels effect’ of EU-US coordination
Oct 2023
London, UK
Peter Orszag discusses the importance of the EU-US relationship, notably its influence on climate action, China sanctions and critical technology.
 
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Publications

The U.S.-Chinese Economic Relationship Is Changing—But Not Vanishing
Co-author
May 2023
New York, NY, USA
Despite recent sentiments of this relationship eroding, Peter Orszag and co-authors discuss how a 'strategy of de-risking' can improve U.S.-China economic ties.
 
The COVID Inflation Shock, Monetary Policy Gradualism, and Lingering Supply Chain Effects
Co-author
Mar 2023
Washington, DC, USA
Discussing The Fed’s aggressive rate hikes in 2022, Peter Orszag and Robin Brooks focus on one particular source of lags in the inflation process: lingering effects from supply chain disruptions at the height of COVID.
 
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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

Ensuring a Fair And Transparent Marketplace
Moderator
Jul 2023
New York, NY, USA
Peter Orszag served as a moderator for this discussion that featured Lina M. Khan, Chair of the Federal Trade Commission. Among the many topics discussed were consumer protections, FTC policy, corporate merger oversight and the impacts of consolidation and monopolies on competition.
 
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'.
 
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Peter’s Education

Princeton University
A.B. | Economics
1987 - 1991
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