Six banks chosen to underwrite the $850m (€635.7m) initial public offering for Lazard have agreed that they will not poach the independent investment bank's employees as a condition of playing a role in the float.

Lazard has appointed Goldman Sachs as sole bookrunner, together with a five-strong underwriting syndicate of Citigroup, Credit Suisse First Boston, JP Morgan, Merrill Lynch and Morgan Stanley, according to documents filed with the US Securities and Exchange Commission on Saturday.