Lazard LTD.

Good morning and welcome to Lazard's second quarter 2024 earnings conference call. This call is being recorded. Currently all participants are in a listen only mode. Following the remarks, we will conduct a question and answer session. Instructions will be provided at that time. If anyone should require assistance during the call, please press the start key followed by zero on your telephone keypad. at this time. I will turn the call over to Alexandra Degnan, Lazard's Head of Investor Relations, Treasury and Corporate Sustainability. Please go ahead.

Alexandra Degnan Thank you, Ashley. Good morning and welcome to Lazard's earnings call for the second quarter and first half of 2024. I'm Alexandra Degnan, Head of Investor Relations, Treasury and Corporate Sustainability. In addition to today's audio comments, we have posted our earnings release on our website. A replay of this call will also be available on our website later today. Before we begin, let me remind you that we may make forward-looking statements about our business and performance. There are important factors that could cause our actual results, level of activity, performance, achievements, or other events to differ materially from those expressed or implied by the forward-looking statements, including but not limited to those factors discussed in the company's SEC filings, which you can access on our website. Lazard assumes no responsibility for the accuracy or completeness of these forward-looking statements and assumes no duty to update them. Today's discussion also includes certain non-GAAP financial measures that we believe are meaningful when evaluating the company's performance. A reconciliation of these non-GAAP financial measures to the comparable GAAP measures is provided in our earnings release and investor presentation. Hosting our call today are Peter Orszag, Lazard's Chief Executive Officer, and Marianne Betsch, Lazard's Chief Financial Officer. After our prepared remarks, Peter and Marianne will be joined by Evan Russo, Chief Executive Officer of Asset Management, as they open the call for questions. I'll now turn the call over to Peter.

Thank you, Ally, and good morning to everyone on today's call. We are pleased to report another quarter of strong results as we continue to pursue a long-term growth strategy. For the first half of the year, total firm-wide adjusted net revenue was $1.4 billion, up 25% from the prior year. Financial advisory adjusted net revenue set a record for the first half of the year at $855 million. This growth reflects our expanding traction with clients and ongoing improvements in market conditions, along with momentum behind our vision for Lazard's future and success in executing our long-term plan. Our asset management business delivered solid results with adjusted net revenue for the first half of the year of $541 million. In a complex market environment, our investment professionals are continuing to help clients diversify their portfolios and achieve desired risk adjusted returns. Our effective execution during the first half of the year is also built upon our culture. Across the firm, there is a palpable sense that our increasingly commercial and collegial approach is delivering positive outcomes for clients and strengthening our reputation for excellence. I'll share more on our performance and outlook shortly. But first, let me turn the call over to Mary Ann to provide further details on our results.