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The cost of Wasserstein’s riches

Lazard investors consider this: The investment bank said yesterday that it expects to take a one time charge of $86.5m (€58.6m) in the fourth quarter related to expenses of paying restricted stock unit awards to the late chief executive Bruce Wasserstein.

To put that charge in perspective, consider that the firm generated $124.7m in M&A advisory revenue in the third quarter and $119m in restructuring fees.

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