When he takes over as Lazard CEO in October, he wants to push asset management.
(Photo: Reuters)
Frankfurt Peter Orszag is one of the most powerful bankers in the USA. In October he will take over the management of the investment house Lazard. In an interview with the Handelsblatt, he already outlines which topics will particularly concern him.
About the power conflict between the USA and China. Because of the political tensions with the West, many corporations would “at least consider” “separating their business in China more or completely,” says Orszag, who once sat in the cabinet of US President Barak Obama.
He advises the US government to coordinate closely with the Europeans on China policy: “If the USA alone impose sanctions, this won’t work. But if the United States and the EU form a kind of super bloc, it is a very powerful tool for enforcing global standards.”
In addition to geopolitical dangers, Orszag sees risks in the banking system. In his opinion, the crisis in the American regional banks, which shook the financial world in March, is not yet over.
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