The Business On... Ken Costa, Chairman, Lazard International


Nothing to do with the coffee chain then?

No, but Mr Costa, until now one of the City's most senior rainmakers, will have plenty more time for sipping cappuccinos from this weekend onwards. He announced his departure from Lazard yesterday in a move that shocked the City.



What's the big deal?

Just that no one had been expecting him to go and the reasons for his departure are not at all clear. He joined Lazard in 2007 after a 30-year career at SG Warburg (during the final decade the bank was owned by UBS). He was personally hired by Bruce Wasserstein, one of investment banking's biggest names.



So where is he going now?

No one is saying, though sources close to Mr Costa say he has no intention of retiring. His departure will be considered a blow to Lazard though – and it is still getting over the loss of Naguib Kheraj, another powerful figure in the City, who quit as chief executive of Lazard International earlier this year, after only 32 days at the firm.



Still, aren't these bankers always up to something?

That's a rather unfair suggestion in the case of Mr Costa, who wears his moral compass on his sleeve. He's a committed Christian who has always insisted his religion informed his work. "People often ask how I reconcile being a banker and a Christian," he once said. "The market economy remains a good servant but a bad master, it needs to operate within a wider moral context."



So do we know anything else about him?

Well, he's a South African by birth and was active in the campaign against apartheid during his younger days. Now 62, he's the chairman of Alpha International, the organisation that promotes the Christian faith through its well-known courses. He has also given generously to the Conservative Party.



Any famous clients?

Too numerous to mention. Most recently he helped Mohamed al-Fayed sell Harrods to the Qatari royal family last year.

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

Recruitment Genius: Management Trainer

£30000 per annum: Recruitment Genius: Exciting career opportunity to join East...

Recruitment Genius: Senior Scientist / Research Assistant

£18000 - £28000 per annum: Recruitment Genius: An ambitious start-up company b...

Reach Volunteering: Chair of Trustees

VOLUNTARY ONLY - EXPENSES REIMBURSED: Reach Volunteering: Do you love the Engl...

Day In a Page

Homeless Veterans Christmas Appeal: ‘We give them hope. They come to us when no one else can help’

Christmas Appeal

Meet the charity giving homeless veterans hope – and who they turn to when no one else can help
Should doctors and patients learn to plan humane, happier endings rather than trying to prolong life?

Is it always right to try to prolong life?

Most of us would prefer to die in our own beds, with our families beside us. But, as a GP, Margaret McCartney sees too many end their days in a medicalised battle
Thomas Cook's outgoing boss Harriet Green got by on four hours sleep a night - is that what it takes for women to get to the top?

What does it take for women to get to the top?

Thomas Cook's outgoing boss Harriet Green got by on four hours sleep a night and told women they had to do more if they wanted to get on
Radio 4 to broadcast 10-hour War and Peace on New Year's Day as Controller warns of cuts

Just what you need on a New Year hangover...

Radio 4 to broadcast 10-hour adaptation of War and Peace on first day of 2015
Christmas 2014: 10 best educational toys

Learn and play: 10 best educational toys

Of course you want them to have fun, but even better if they can learn at the same time
Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

It's in all our interests to look after servicemen and women who fall on hard times, say party leaders
Millionaire Sol Campbell wades into wealthy backlash against Labour's mansion tax

Sol Campbell cries foul at Labour's mansion tax

The former England defender joins Myleene Klass, Griff Rhys Jones and Melvyn Bragg in criticising proposals
Nicolas Sarkozy returns: The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?

Sarkozy returns

The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?
Is the criticism of Ed Miliband a coded form of anti-Semitism?

Is the criticism of Miliband anti-Semitic?

Attacks on the Labour leader have coalesced around a sense that he is different, weird, a man apart. But is the criticism more sinister?
Ouija boards are the must-have gift this Christmas, fuelled by a schlock horror film

Ouija boards are the must-have festive gift

Simon Usborne explores the appeal - and mysteries - of a century-old parlour game
There's a Good Girl exhibition: How female creatives are changing the way women are portrayed in advertising

In pictures: There's a Good Girl exhibition

The new exhibition reveals how female creatives are changing the way women are portrayed in advertising
UK firm Biscuiteers is giving cookies a makeover - from advent calendars to doll's houses

UK firm Biscuiteers is giving cookies a makeover

It worked with cupcakes, doughnuts and macarons so no wonder someone decided to revamp the humble biscuit
Can SkySaga capture the Minecraft magic?

Can SkySaga capture the Minecraft magic?

It's no surprise that the building game born in Sweden in 2009 and now played by millions, has imitators keen to construct their own mega money-spinner
The King's School is way ahead of the pack when it comes to using the latest classroom technology

Staying connected: The King's School

The school in Cambridgeshire is ahead of the pack when it comes to using the latest classroom technology. Richard Garner discovers how teachers and pupils stay connected
Christmas 2014: 23 best women's perfumes

Festively fragrant: the best women's perfumes

Give a loved one a luxe fragrance this year or treat yourself to a sensual pick-me-up