Michael Biondi, the chairman of Wasserstein Perella who reportedly netted a nine-figure pay-out when the US boutique was bought by Dresdner Bank, has rejoined his old colleagues at Lazard.

Biondi will take on the role of chairman of investment banking there, and will be reunited with Bruce Wasserstein, head of Lazard, co-founder of Wasserstein Perella and a former colleague of Biondi's at First Boston.