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Many of Lazard's 202 working partners are unhappy with Mr Wasserstein's plan to buy out non-working partners for a rumoured $1.25 billion, handing to the families and Eurazeo a generous premium over the likely value of their stakes after an initial public offering (IPO).
Working partners who were not previously allowed to sell their stakes may now cash out.
Instead, working partners are encouraged to invest for their own retirements, partly through Keogh accounts.
Given the chance to work, many women may do so part-time rather than full-time; some men with working partners may make the same choice.
His working partners are the bassist Larry Grenadier and the drummer Jeff Ballard, and Mr. Mehldau wisely grants them the full measure of his trust.
About two-thirds of the bank is owned by its working partners; the rest is controlled by Mr David-Weill through so-called "cascades"—a network of interlocking holding companies.
Similar(24)
He replaced Langmaid as Jackson's closest working partner.
As Petit's producer and working partner, she makes it possible for him to do what he does.
In the 1970s, however, wage stagnation meant that fewer and fewer families could afford to have only one working partner.
Gilbert has seen both sides of it: 20 years ago he spent six months splitting childcare with his working partner.
Poles have a working partner in the Netherlands more often than Bulgarians, and also more often have a young child in the household.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com