PwC has made two senior hires - including a former Lazard executive - to help build out its nascent placement-agent business, which puts private-equity and other private investment firms in touch with investors.

Ed McDonald joined PwC in early January as a partner in its global fund advisory platform, part of the corporate finance business. He joined from Lazard, where as a global private equity placement agent he provided investor coverage to limited partners in Europe, Asia, Australia and the Middle East.