Michel David-Weill

Who is Michel David-Weill?

Michel David-Weill is a French investment banker and former Chairman of New York City-based Lazard Frères.

He is the son of Berthe Haardt and Lazard Frères chairman Pierre David-Weill. During the last year of Nazi occupation, at age 11, he had to hide with his mother and younger sister, in a French village called Béduer. After World War II was over, he went to live in New York City with his family. He was educated at the Lycée Français de New York and l'Institut d'Etudes Politiques de Paris. In 1956, he married Hélène Marie Lehideux, with whom he has four children.

By inheriting equity stake, he became the largest stake holder in both Lazard New York and Lazard Paris, while also holding stakes in Lazard London. Following the 1977 retirement of André Meyer, Michel David-Weill became chairman of Lazard—working closely with managing director, Felix Rohatyn, who, like David-Weill, was also made senior partner at Lazard in 1961. Also, by the power provided in clause 4.1 of Lazard partnership agreement, he alone had the power to set compensations and had the right to fire any partners at his discretion.

Under David-Weill's direction, Lazard began to expand its business from traditional M&A advising to areas such as asset management and municipal bond. He also made numerous hires, including Steven Rattner. Lazard's profits also jumped from $5 million in the late 70s to $500 million in the late 90s.