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  Pearson Annual Report 1997    

The Business Review


Investment Banking

Worldwide Financial Advisory League Table 1987-1997

Pearson owns, directly and indirectly, a 50% interest in Lazard Brothers, the UK merchant bank, and smaller holdings in the Lazard banking houses in New York and Paris. In 1997, income from the three Lazard Houses reached a record £43.1m. Lazard Brothers headed the UK mergers and acquisitions league tables, advising on over £20 billions’ worth of transactions. The investment management operations of Lazard Brothers and Lazard Frères New York were combined to create a single entity. The new entity, Lazard Asset Management, is experiencing strong growth. The three houses continue to find ways to enhance co-operation.

Lazards Attributable Profit

1997 Annual Report
* Group summary
* Information
* Education
* Entertainment
* Investment banking
* Chairman's statement
* Chief Executive's review
* Financial Review
* Financial Policy
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
* Notes to the accounts

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