Lazard has hired one of the founding members of Rothschild’s debt advisory team as a managing director in its own group offering advice on debt financing and refinancing, at a time when companies are increasingly looking at alternatives to traditional bank lending.

Ranjit Munro, who joined Rothschild in 1993 and helped launch the company's debt advisory business five years later, was most recently a managing director and co-head of Rothschild's ratings advisory group.