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Lazard profit jumps 81 pct as asset management revenue rises

Thursday, 24 Oct 2013 | 7:12 AM ET

Oct 24 (Reuters) - Investment bank Lazard Ltd reported an 81 percent rise in quarterly profit, driven by higher revenue from asset management and financial advisory businesses.

Net income attributable to common shareholders rose to $60.3 million, or 45 cents per share, in the third quarter from $33 million, or 26 cents per share, a year earlier.

Total assets under management as of Sept. 30 were up 10 percent at $176 billion.

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