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Peter Orszag

New York, NY, USA

CEO, Financial Advisory

Lazard

Peter Orszag

Biography

Peter R. Orszag is CEO of Financial Advisory at Lazard Freres & Co LLC, leading the firm’s advisory businesses that serve companies and governments across the globe. He previously served as the firm’s Head of North American Mergers & Acquisitions and Global Co-Head of Healthcare.

Before joining Lazard in May 2016, Peter served as Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup, Inc. Prior to that, he served as a Distinguished Visiting Fellow at the Council on Foreign Relations and a Contributing Columnist at the New York Times.

Peter previously served as the Director of the Office of Management and Budget in the Obama Administration, a Cabinet-level position, from January 2009 until July 2010. From January 2007 to December 2008, Peter was the Director of the Congressional Budget Office (CBO). Under his leadership, the agency significantly expanded its focus on areas such as health care and climate change.

At Princeton University, Peter graduated summa cum laude with a BA in economics. He then earned a Ph.D. in economics from The London School of Economics, which he attended as a Marshall Scholar. He has coauthored or co-edited a number of books, including Protecting the Homeland (2006), Aging Gracefully: Ideas to Improve Retirement Security in America (2006), Saving Social Security: A Balanced Approach (2004), and American Economic Policy in the 1990s (2002).

Peter serves on the Board of Directors of the Peterson Institute for International Economics, Mt. Sinai Medical Center, and New Visions for Public Schools. He is also a member of the National Academy of Medicine, and holds an honorary doctorate from Rensselaer Polytechnic Institute.

Peter Orszag’s Newsfeed

How to encourage workers to save more for retirement

Peter R. Orszag is a Bloomberg Opinion columnist and CEO of Financial Advisory at Lazard. In this article, Mr. Orszag discusses new ways to encourage and increase retirement savings for workers. This includes the many benefits of automatic enrollment and company participation in matching retirement contributions for employees. The ideas in the article are backed by Mr. Orszag's own research and a study done by economists at the Congressional Budget Office.

The Health-Care Breakthrough That Wasn’t

In this article, Peter Orszag discusses the healthcare approach of "hot-spotting", where close monitoring and counseling of patients by a specially-trained team of health professionals could steer them away from making unnecessary hospital visits, while also driving down costs. Orszag contends that this approach has some failings, and he uses a study done by MIT researchers (published in the New England Journal of Medicine) to refute some of the claims of "hot-spotting."  

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Peter Orszag’s Background

CEO, Financial Advisory
Jun 2019 - Present
New York, NY, USA
Lazard generates about half its revenue from financial advisory, which includes M&A and the remainder from asset management. While the firm has consistently been one of the top 10 advisers on deals globally.
Columnist
2011 - Present
New York, NY, USA
Bloomberg connects decision makers to a dynamic network of business & financial information, news, ideas & people around the world.
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Current Non-Executive Positions

Board of Directors
2011 - Present
Washington, DC, USA
The Peterson Institute for International Economics is a private, non-profit, non-partisan research institution, devoted to the study of international economic policy.
Board of Directors
New York, NY, USA
The Mount Sinai Health System is an integrated health care system providing exceptional medical care to local & global communities.
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Previous Non-Executive Positions

Senior Advisor & 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 & international economic policy.
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

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 & the workforce.
Board of Directors
2011 - 2017
Princeton, NJ, USA
The Robert Wood Johnson Foundation has worked to improve health and health care. They work alongside others to build a national Culture of Health, to provide everyone in America with a fair opportunity for health and well-being.

Publications

Co-Author
2014 - Present
New York, NY, USA
Published in 2014 and co-authored by a team of leaders & thinkers from across the political spectrum, the book sets out a vision where policy makers base decisions not on politics or expedience, but on evidence of what works.
Co-author & Co-editor
2006 - Present
New York, NY, USA
This collection of essays addresses retirement trends in the United States and puts forth ideas to enable Americans to develop higher levels of retirement savings.
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Peter Orszag’s Education

AB, Economics
1987 - 1991
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