Lazard Inc. has strategically expanded its workforce by acquiring the expertise of Ali Syed, a former Citigroup Inc. managing director. Syed is renowned for his extensive experience in managing relationships with sovereign-wealth funds and pension funds across varied regions, including the Middle East, Asia, and North America.
According to sources acquainted with the situation, Syed will soon become part of Lazard’s capital-solutions group. He will be reporting to Tim Donahue and collaborating closely with prominent figures such as Wassim Al Khatib and Sarah Al Suhaimi, who lead Lazard Financial Advisory in the Middle East and North Africa.
While Lazard and Citigroup representatives have opted not to comment on the appointment, industry records reflect that Syed’s tenure at Citigroup began in 2012. Throughout his career, he has managed client relationships with major investment entities, including the Public Investment Fund of Saudi Arabia, Singapore’s GIC Pte and Temasek Holdings Pte, and the Abu Dhabi Investment Authority, among others.
Syed has also been instrumental in significant transactions, such as the Public Investment Fund’s acquisition of Newcastle United, Wren House’s investment in Phoenix Tower International, and Caisse de dépôt et placement du Québec’s stake in Allied Universal.
In its efforts to strengthen its capital solutions division, Lazard has also recently recruited Adam Cady, a former Bank of America Corp. professional, who is tasked with servicing some of the firm’s most prominent private equity and alternative-asset-manager clients.