CEO of one of the world’s largest investment banks, Lazard Ltd, has died.
Bruce Wasserstein, 61, was admitted to the hospital three days ago for arrhythmia, and was said to be in serious but stable condition. Wasserstein, a graduate of Harvard and Brooklyn native, had a 40-year run on Wall Street, brokering over 1,000 transactions worth more than $250 billion. Wasserstein worked on the Time/Warner Brothers merger, as well as the deal combining Morgan Stanley and Dean Witter. In the days before his hospitalization and eventual death, Wasserstein was working on Kraft’s bid to take over the UK’s top candy brand, Cadbury.
News of Wasserstein’s death hit press just after the bell on Wednesday. Wasserstein has an estimated net worth of over two billion dollars. He is survived by fourth wife Angela Chao, to whom he was married since January, 2009. Lazard is currently declining to comment on the death of their CEO.