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Peter R. Orszag
Peter Richard Orszag (born December 16, 1968) is an American business executive and former government official. He is the chief executive officer (CEO) and chairman of Lazard. Announced as Lazard's incoming CEO on May 26, 2023, he assumed the role on October 1, 2023, also joining the board.
Prior to becoming Lazard CEO, Orszag was CEO of Lazard's Financial Advisory from April 2019 to September 2023. He was previously Head of North American Mergers & Acquisitions and Global Co-Head of Healthcare from July 2018 to June 2019. Orszag joined Lazard as Vice Chairman of Investment Banking in May 2016.
Prior to Lazard, Orszag was a Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup. Prior to that, he was the 37th Director of the Office of Management and Budget (OMB) under President Barack Obama and had also been the Director of the Congressional Budget Office (CBO).
Orszag is a member of the National Academy of Medicine of the National Academies of Sciences. He is on the Boards of Directors of the Peterson Institute for International Economics and the Mount Sinai Hospital. He has also been on the board of the Russell Sage Foundation and New Visions for Public Schools in New York.
Orszag grew up in Lexington, Massachusetts, the son of Reba (née Karp) and Steven Orszag. His paternal great-grandparents were Jewish immigrants from Hungary who immigrated to New York City in 1903. His father, Steven Orszag, was a math professor at Yale University and his mother was the president and owner of a research and development company. His brother is Jonathan Orszag, the Senior Managing Director of Compass Lexecon, LLC.
After graduating from Phillips Exeter Academy with high honors (1987), Orszag earned an A.B. in economics from Princeton University in 1991 after completing an 80-page long senior thesis titled "Congressional Oversight of the Federal Reserve: Empirical and Theoretical Perspectives." He then received a M.Sc. (1992) and a Ph.D. (1997) in economics from the London School of Economics on the Marshall Scholarship. He stated during a reception at the White House that "becoming a Marshall Scholar is one of the most important things that ever happened to me." His doctoral thesis was titled "Dynamic analysis of regime shifts under uncertainty: Applications to hyperinflation and privatization". He was a Marshall Scholar 1991–1992, and is a member of Phi Beta Kappa.
Orszag became a lecturer at the University of California, Berkeley, and taught macroeconomics in 1999 and 2000. He then became a senior fellow and deputy director of economic studies at the Brookings Institution. In 2006 he co-founded and directed The Hamilton Project and was its first director. He was also director of the Pew Charitable Trust's Retirement Security Project.
He was Special Assistant to the President for Economic Policy (1997–1998), and as Senior Economist and Senior Adviser on the Council of Economic Advisers (1995–1996) during the Clinton administration. After leaving the Clinton White House, he formed a consulting group called Sebago Associates, which merged into Competition Policy Associates and was bought by FTI Consulting Inc. for a reported $70 million in 2005. He has been a columnist at Bloomberg Opinion.
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Peter R. Orszag
Peter Richard Orszag (born December 16, 1968) is an American business executive and former government official. He is the chief executive officer (CEO) and chairman of Lazard. Announced as Lazard's incoming CEO on May 26, 2023, he assumed the role on October 1, 2023, also joining the board.
Prior to becoming Lazard CEO, Orszag was CEO of Lazard's Financial Advisory from April 2019 to September 2023. He was previously Head of North American Mergers & Acquisitions and Global Co-Head of Healthcare from July 2018 to June 2019. Orszag joined Lazard as Vice Chairman of Investment Banking in May 2016.
Prior to Lazard, Orszag was a Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup. Prior to that, he was the 37th Director of the Office of Management and Budget (OMB) under President Barack Obama and had also been the Director of the Congressional Budget Office (CBO).
Orszag is a member of the National Academy of Medicine of the National Academies of Sciences. He is on the Boards of Directors of the Peterson Institute for International Economics and the Mount Sinai Hospital. He has also been on the board of the Russell Sage Foundation and New Visions for Public Schools in New York.
Orszag grew up in Lexington, Massachusetts, the son of Reba (née Karp) and Steven Orszag. His paternal great-grandparents were Jewish immigrants from Hungary who immigrated to New York City in 1903. His father, Steven Orszag, was a math professor at Yale University and his mother was the president and owner of a research and development company. His brother is Jonathan Orszag, the Senior Managing Director of Compass Lexecon, LLC.
After graduating from Phillips Exeter Academy with high honors (1987), Orszag earned an A.B. in economics from Princeton University in 1991 after completing an 80-page long senior thesis titled "Congressional Oversight of the Federal Reserve: Empirical and Theoretical Perspectives." He then received a M.Sc. (1992) and a Ph.D. (1997) in economics from the London School of Economics on the Marshall Scholarship. He stated during a reception at the White House that "becoming a Marshall Scholar is one of the most important things that ever happened to me." His doctoral thesis was titled "Dynamic analysis of regime shifts under uncertainty: Applications to hyperinflation and privatization". He was a Marshall Scholar 1991–1992, and is a member of Phi Beta Kappa.
Orszag became a lecturer at the University of California, Berkeley, and taught macroeconomics in 1999 and 2000. He then became a senior fellow and deputy director of economic studies at the Brookings Institution. In 2006 he co-founded and directed The Hamilton Project and was its first director. He was also director of the Pew Charitable Trust's Retirement Security Project.
He was Special Assistant to the President for Economic Policy (1997–1998), and as Senior Economist and Senior Adviser on the Council of Economic Advisers (1995–1996) during the Clinton administration. After leaving the Clinton White House, he formed a consulting group called Sebago Associates, which merged into Competition Policy Associates and was bought by FTI Consulting Inc. for a reported $70 million in 2005. He has been a columnist at Bloomberg Opinion.