Lazard AM CEO to step down

Lazard Asset Management (LAM) has announced that Rob Prugue will step down as chief executive officer - Australia & NZ, effective 28 February 2018.

Prugue, who is retiring from the asset management industry, will be replaced by current managing director, head of sales for LAM Pacific, Paul Cuddy.

Prugue joined LAM in 2002 and held the role of CEO, Aus & NZ until 2013, when he was replaced by Susan Roberts. At this point, he was appointed to the role of CEO, APAC.

In 2016, following Roberts' departure, Prugue returned to the role of CEO, Aus & NZ.

Commenting on his departure, Prugue said: "Retirement is bittersweet. I am appreciative of the experiences and growth opportunities that LAM has provided me with over the past fifteen years. I believe that the vibrant and collegial environment I have enjoyed being a part of at LAM, will continue to thrive."