Ray McGuire, President of Lazard, expressed optimism about the current state of the investment banking industry at a conference in Beverly Hills. With record first quarter results, he remains cautious about a future where interest rates may remain high for longer. Lazard is simultaneously managing restructuring and M&A activities, despite a complex economic environment marked by challenges such as inflation and geopolitical issues.

McGuire addresses long-term challenges and trends such as artificial intelligence, energy transition, de-globalisation, cyber security and demographic change. He does not foresee an imminent economic slowdown, citing the historical performance of the markets and the current strength of the dollar. However, he stresses the importance of keeping a close eye on the impact of inflation.

In the months ahead, he anticipates sustained activity in mergers and acquisitions, although the high cost of financing is encouraging greater use of equities as a currency in transactions. Asked about his political ambitions, McGuire dodged the question, preferring to focus on his role at Lazard and creating value for the company and its shareholders.

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