Lazard saw its fourth quarter revenue from M&A advisory slip 17% to US$335m compared with last year as the pace of deal flow slowed. Still, revenue for 2017 rose 7% from the year before to US$1.4bn. "We gained market share in global M&A announcements, our volume increased 3% while the market decreased 4%," said Lazard chief executive Kenneth Jacobs. "Our M&A activity was strong in Europe, where economic growth is driving increased confidence among decisionmakers."
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