(Reuters) – Lazard reported a 90% drop in third-quarter profit on Thursday, as the boutique investment bank’s advisory business reeled from a prolonged slump in dealmaking activity.
The company reported an adjusted profit of $10 million, or 10 cents per share, in the three months ended Sept 30, compared with $106 million, or $1.05 per share, a year earlier.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shinjini Ganguli)
