Michel David-Weill

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Michel David-Weill
Born(1932-11-23)November 23, 1932
Paris, France
DiedJune 16, 2022(2022-06-16) (aged 89)
New York City, U.S.
EducationLycée Français de New York
Sciences Po Paris
OccupationBanker
Known forChairman of Lazard. Chairman of Eurazeo Group
SpouseHélène Marie Lehideux
Children4
Parent(s)Berthe Haardt David-Weill
Pierre David-Weill
FamilyDavid David-Weill (grandfather)
Édouard Stern (son-in-law)

Michel David-Weill (November 23, 1932 – June 16, 2022) was a French

investment banker and chairman of Lazard and Eurazeo
.

Early life

Michel David-Weill was born into a

Jewish family on November 23, 1932. His father, Pierre David-Weill (1900–1975), was the chairman of Lazard Frères; his mother was Berthe Haardt. His great-grandfather, Alexandre Weill [fr], worked at Lazard Frères, a firm co-founded by his cousins, Alexandre, Elie, and Simon Lazard.[1] In 1900, his grandfather, David David-Weill, was named a partner.[1] In 1927, his father became a partner.[1]

Aged 8, at the dawn of the World War II he fled Paris with his mother and sister to save themselves from Nazis.

Roman Catholics (his father Pierre would later convert to Catholicism in 1965). Then he went to reunite with his father in New York City where he studied at the Lycée Français de New York with other war refugees such as Baron Pierre de Gunzburg.[3] After World War II was over, he stayed in the United States to live in New York City with his family.[4] David-Weill was also educated at the Sciences Po Paris.[5]

Career

David-Weill started his public life by serving in French military.[2] In 1956, David-Weill joined Lazard Freres, and, in 1961, became a partner.[1] Under the stewardship of chairman André Meyer, Felix Rohatyn, who handled acquisitions, and he himself, who was the bookkeeper, Lazard grew rapidly. In 1975, his father died and he inherited his equity stake in Lazard, becoming the largest stakeholder in both Lazard New York and Lazard Paris, while also holding stakes in Lazard London.[6][7] In 1977, when Meyer became sick and Rohatyn turned down an offer to replace him, David-Weill was named chairman.[1] He continued to work closely with managing director, Felix Rohatyn, who was also made senior partner at Lazard in 1961.[8] Also, by the power provided in clause 4.1 of the Lazard partnership agreement, he alone had the power to set compensations and the right to fire any partners at his discretion.

Under David-Weill's direction, Lazard began to expand its business from traditional

U.S. Ambassador to France, Kendrick Wilson III for Goldman Sachs, Gerald Rosenfeld for Rothschild & Co. and other prominent dealmakers of the firm such as J. Ira Harris and Steven Rattner
. Lazard under the leadership of David-Weill was put under pressure.

To strengthen Lazard, David-Weill offered Rohatyn the opportunity to return to Lazard in 2001 after his Ambassadorship ended. Rohatyn became Senior Advisor to Lazard and simultaneously created his own firm Rohatyn Associates to generate deals for Lazard. In November 2001, David-Weill hired

Groupe Danone, one of the world's largest food-product companies.[5]

Personal life

In 1956, David-Weill married Hélène Marie Lehideux, daughter of Robert Lehideux. They had four children: Béatrice, married first to Bertrand de Villeneuve Bargemont and then to Édouard Stern; Cécile, married to Emmanuel Renom de La Baume; and Nathalie, married to Olivier Merveilleux du Vignaux and Agathe David-Weill. (See the entry in French Wikipedia, Famille David-Weill.)

He was honored by the government of France, made a Commander of the

Legion of Honor and a Commander of Ordre des Arts et des Lettres, the nation's highest cultural honor.[5]

Michel David-Weill died at his home in Manhattan on June 16, 2022, at the age of 89.[2][10]

References

  1. ^ a b c d e f Fortune Magazine: "Assault On The House Of Lazard" by Robert Lenzner September 4, 2000
  2. ^
    ISSN 0362-4331
    . Retrieved 2022-06-25.
  3. ISBN 978-0385521772
    .
  4. ISBN 9780143114260
    .
  5. ^ a b c Academie de Beaux Artes: "Michel DAVID-WEILL Archived 2016-03-03 at the Wayback Machine retrieved October 3, 2015
  6. ISSN 0099-9660
    . Retrieved 2022-06-25.
  7. ISSN 0307-1235
    . Retrieved 2022-06-25.
  8. ISBN 0471221066
    .
  9. ^ Lazard's David-Weill Wants Wasserstein To Quit if IPO Fails
  10. ^ "Michel David-Weill, Lazard 'Sun King' Who Lost Power, Dies at 89". Bloomberg.com. 2022-06-17.
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