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Peter Orszag

CEO | Financial Advisory

Lazard

New York, NY, USA

Peter Orszag
Ben Francis
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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

CNBC
Peter Orszag: Davos seems a bit more downcast than usual this year

Peter Orszag joins ‘Squawk Box’ to discuss what he thinks will happen on the debt ceiling, what’s happening in Davos, and more.

Financial Times
Central banks should beware the dangers of over-tightening

Peter Orszag shares his thoughts on the Federal Reserve and European Central Bank's current tightening cycles.

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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 Town Hall Event on Climate Policy COP27
Moderator
Nov 2022
New York, NY, USA
Peter Orszag moderated a Town Hall for Lazard employees about climate policy, where Zachery Halem, Director of Lazard’s Climate Center, and Joseph Aldy, Lazard Senior Advisor and Professor of the Practice of Public Policy at the Harvard Kennedy School, discussed outcomes from COP27, the SEC’s proposed climate disclosure rule, and the passage of the Inflation Reduction Act in the U.S.
Tracking the Recovery From the COVID-19 Recession
Fireside Chat
Mar 2022
Peter Orszag and Mary C. Daly, president & CEO of the Federal Reserve Bank of San Francisco, took part in a fireside chat to discuss the state of the economy, the state of public health, and the relationship between the two.
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Interviews

Falling valuations are driving M&A deals, says CEO of Lazard Financial Advisory Peter Orszag
Dec 2022
New York, NY, USA
Peter Orszag joins 'Closing Bell' to discuss trends in the M&A space, investment grade debt and credit thawing and the need to pause Fed policy in order to assess its impacts
Lazard's Orszag on the 'Three Horsemen of Concern' for Investors
Mar 2022
New York, NY, USA
Peter Orszag discusses the global effects of the war in Ukraine, the next wave of Covid, and inflation dynamics.
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Publications

Price caps on Russian oil aren’t ideal. But they’re our best option
Co-author
Oct 2022
Washington, DC, USA
Peter Orszag and co-author Teddy Bunzel shares their thoughts on the proposed oil price cap and its potential in limiting any benefits to Russia.
When Hospitals Buy Doctor Practices, Do Prices Always Rise?
Author
Jan 2022
New York, NY, USA
Peter Orszag discusses the recent decline of doctors practicing on their own and how this shift might yield more benefits than expected.
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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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