Lazard Frères Banque

What Lazard Frères Banque does

Lazard Frères Banque is a French credit institution (société anonyme, RCS Paris B 334 961 745) licensed on 31 January 1986 under agrément number 19019, headquartered at 175 Boulevard Haussmann, Paris. The bank is a wholly-owned subsidiary of Compagnie Financière Lazard Frères SAS, within the broader Lazard group whose ultimate listed parent is Lazard Ltd (NYSE: LAZ). Since 2009 the bank's strategy has been deliberately narrowed: it does not conduct proprietary trading and instead focuses on operational services for Lazard Frères Gestion (the group's French asset management entity) and functional services for other Lazard entities in France. Its core products are depositary services for UCITS (OPCVM) and AIFs (FIA) — a regulated activity under OPCVM V and AIFM directives — together with custody and account-keeping for both proprietary and client portfolios, cash management and interbank treasury services, and a DSP2/BerlinGroup-compliant open-banking API made available to licensed third-party providers.

The technology stack combines a banking platform with DSP2-compliant APIs (publishing quarterly availability and performance statistics), a web-based client portal (lfgprive.fr) for private banking clients, and an internal risk management framework covering credit, operational, liquidity, market, and ESG risks. Sub-custody is delivered through a tiered network: direct custody at Euroclear (France, Belgium, Netherlands) and Clearstream Luxembourg where feasible, complemented by HSBC Continental Europe for Anglo-Saxon and emerging markets and SEB for the Nordics. Compliance coverage includes FATCA Participating Foreign Financial Institution and Qualified Intermediary status, CRS reporting under the OECD multilateral framework, GDPR-aligned data handling, and AML controls. The bank maintains CET1 ratios of 17.64–19.84% (2024), a Liquidity Coverage Ratio of 201–248% (2024), and an NSFR of 140–175%, indicating substantial capital and liquidity headroom relative to Basel III/IV and CRR minima.

The business model is service-fee driven. Revenue streams comprise depositary and custody fees for UCITS and alternative investment funds managed by Lazard Frères Gestion, transaction-related fees for custody and account-keeping, and interest income from interbank placements and treasury cash management. Customers are primarily other Lazard group entities (notably Lazard Frères Gestion's retail and institutional clients and their managed funds), supplemented by private banking clients served via relationship managers. Pricing is published in downloadable fee-schedule PDFs ("conditions tarifaires" and "document d'information tarifaire") rather than disclosed publicly. Distribution is direct relationship banking rather than retail branches or marketplace channels, with DSP2 APIs acting as the only programmatic on-ramp for external providers. Olivier Klein serves as Directeur Général (CEO) and chairs the Risk Monitoring and Credit Committees; ultimate governance flows through Lazard Ltd in New York.

Name

Lazard Frères Banque

Legal name

Lazard Frères Banque

Website

https://lazardfreresbanque.fr

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Lazard Frères Banque is a licensed French credit institution (since 1986) providing depositary, custody, and cash management services primarily for Lazard Frères Gestion and other Lazard entities in France, with a DSP2 open-banking API and private banking support.

Ownership category

akta.pro rank

Product category

Custody and Depositary Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110)

SIC

National Commercial Banks (6021), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Fund Custody & Transfer Agency Services (FSACAHAG)

Keywords

• Depositary banking services
• Custody account keeping
• Private banking France
• Open banking APIs
• Fund custody services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Depositary Services: Fees earned for providing depositary services to Lazard Frères Gestion's UCITS and alternative investment funds (FIA/FIVG). Services include asset custody, regulatory oversight of fund management decisions, and cash flow monitoring.
2. Custody and Account-Keeping: Fees for maintaining and safeguarding financial instruments, processing securities transactions, and providing sub-custodian network access for both proprietary and client accounts.
3. Cash Management and Treasury Services: Interbank placements and liquidity management services, including treasury operations for Lazard Frères Gestion and group entities. Interest income from interbank lending and client advances.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Lazard Frères Banque is a French credit institution providing depositary and custody services for UCITS and alternative investment funds managed by its affiliate Lazard Frères Gestion, alongside private banking services for high-net-worth clients and group-level cash management. The bank operates as a focused, mid-sized institutional bank without proprietary trading, generating fee-based revenue from depositary oversight, custody account-keeping, and ancillary banking services, plus interest income from interbank placements. Its regulatory role under ACPR/AMF supervision makes it a critical operational hub within the French Lazard Group.

Product overview

Lazard Frères Banque is a French credit institution (established 1986) providing depositary and custody services primarily for investment funds managed by its affiliate Lazard Frères Gestion. The bank operates a single integrated platform consisting of core banking infrastructure (depositary services for OPCVM and FIA funds, custody account-keeping), compliance solutions (FATCA, CRS tax reporting), and an Open Banking API (DSP2/BerlinGroup compliant). Client-facing digital services include the online client portal for account access and mediation. The bank does not perform proprietary trading and focuses on operational services for the Lazard group in France.

Differentiator

Problem solved

Functional benefit

Products and services

• Dépositaire d'OPC (Depositary Services) Lazard Frères Banque acts as depositary for UCITS (OPCVM) and AIFs (FIA) managed by Lazard Frères Gestion. The depositary maintains custody of financial instruments and ensures the regularity of management decisions against applicable regulations and the fund prospectus.
• Tenue de compte-conservation (Custody Account Services) Account-keeping and custody services for financial instruments for the bank's own account and for clients of Lazard Frères Gestion. Includes registration of securities and position maintenance for non-security assets.
• DSP2 API (Open Banking)

Quantifiable outcome

• Gender equality index score of 98/100 in 2024 and 2022, demonstrating strong equal pay practices
• +2 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core.

• Euroclear SA/NVcoreTechnology or IntegrationEuroclear serves as a primary sub-custodian for Lazard Frères Banque's depositary operations. Direct custody is maintained at Euroclear for securities of issuers using Euroclear France, Euroclear Belgique, and Euroclear Pays-Bas as central securities depositories.
• Euroclear Bank SA/NVcoreTechnology or IntegrationSub-custodian for international bonds, and securities from Germany, Austria, Switzerland, Japan, Ireland, and Norway. Provides settlement and custody infrastructure for cross-border securities.
• Clearstream BankcoreTechnology or IntegrationSub-custodian for Luxembourg-based securities and international bonds. Part of Deutsche Börse Group, providing settlement and custody services for cross-border securities.
• Clearstream Fund Centre SAcoreTechnology or IntegrationSub-custodian for fund securities, enabling custody of investment fund units and shares managed by Lazard Frères Gestion.
• HSBC Continental EuropecoreTechnology or IntegrationSub-custodian covering markets in Australia, Canada, Spain, USA, Greece, Hong Kong, Italy, Portugal, UK, and emerging markets. Provides access to local market custody infrastructure across these geographies.
• Skandinaviska Enskilda Banken AB (SEB)coreTechnology or IntegrationSub-custodian for Nordic markets including Denmark, Finland, and Sweden. Provides local market custody access for Scandinavian securities held in client portfolios.
• Compagnie Financière Lazard Frères SAScoreStrategic or Co-development PartnerParent holding company that owns the quasi-totality of capital in both Lazard Frères Banque SA and Lazard Frères Gestion SAS. Provides group-level governance, risk oversight, and strategic direction for both operating entities.
• Lazard Frères Gestion SAScoreStrategic or Co-development PartnerAffiliated asset management entity (société de gestion) for which Lazard Frères Banque provides depositary and custody services. Lazard Frères Gestion exercises individual and collective portfolio management for retail and institutional clients. Bank provides operational support including securities custody, cash management, and risk services.

Scale indicators5 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• HSBC Securities Services: Securities services division of HSBC providing global custody and fund administration. Already a sub-custodian partner to LFB (covering US, UK, Hong Kong markets), making it both a competitor for direct mandates and a counterpart in the custody value chain.
• BNP Paribas Securities Services: Securities services arm of BNP Paribas providing global custody, fund administration, and depositary services across UCITS and AIFs. Much larger scale than LFB but serves the same client type (asset managers needing regulated depositary) with overlapping product suite.
• Société Générale Securities Services (SGSS): Securities services business of Société Générale offering custody, fund administration, and depositary functions for asset managers in France and Europe. Comparable product set to LFB but operating at global scale with broader client roster beyond any captive affiliate.
• State Street (Global Services): Global custody and fund services giant serving asset managers with depositary, custody, and middle-office solutions. Sets the technology and scale benchmark that drives regulatory and competitive pressure on niche French depositary banks like LFB.
• Northern Trust (Asset Servicing): Global custody and fund administration provider competing for UCITS/AIF depositary mandates across European asset managers. Comparable to LFB at the product level (fund custody, depositary) though operating at substantially greater scale.
• BNY Mellon (Asset Servicing): One of the largest global custodians providing fund depositary, custody, and asset servicing to asset managers worldwide. Represents the global custodian competitive landscape LFB operates within, particularly relevant for cross-border custody requirements LFB handles via its sub-custodian network.

Direct peers

• CACEIS: France-headquartered fund depositary and custody bank owned by Crédit Agricole, providing depositary services for UCITS and AIFs alongside asset servicing. Closest direct competitor to Lazard Frères Banque in the French fund depositary market with similar regulatory positioning under ACPR/AMF.
• Rothschild & Co (Banking): French-rooted private banking and asset management group with a banking subsidiary providing custody and private banking services. Direct comparable on dimension of being a private, group-affiliated banking subsidiary supporting an affiliated asset manager with shared brand heritage.
• Pictet & Cie: Swiss private bank offering asset management with in-house banking and custody services for HNW clients. Comparable to Lazard Frères Banque as a private banking structure embedded within a larger asset management group, serving HNW and institutional clients with custody and depositary-adjacent services.

Others

• Euroclear Bank: Central securities depository and international central securities depository serving as core sub-custodian and settlement infrastructure partner for LFB's custody operations. Functions as upstream infrastructure provider rather than a direct competitor, but central to LFB's custody delivery model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lazard-freres-banque

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lazard Frères Banque