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Lazard Advances in AI

On Tuesday, CEO and Chairman at Lazard Peter Orszag announced the addition of Dmirtry Shevelenko to Lazard’s Board of Directors. Shevelenko comes from Perplexity AI where he was the Chief Business Officer and visionary leader in technology and AI. He has served previous roles at Uber, LinkedIn, and Meta. This signals the firm’s push to embed artificial intelligence at the core of its financial advisory and asset management strategy. With approximately 40% of consulting revenues tied to outcomes and tech-driven solutions, his experience in AI operations, patents, and scaling platforms highlights how modern finance firms are reshaping their models.

Why it matters: This is a clear indicator that success in finance will increasingly hinge on blending strategic thinking with technology fluency and innovation leadership. Investment banks are racing to be ahead in the field of AI.

Citi & BlackRock’s New Portfolio

Citi Portfolio Solutions is a new investment offering from Citi Wealth in partnership with BlackRock, launched on September 4, 2025. It combines Citi's strategic investment advisory and planning with BlackRock's investment management and technology, using BlackRock's Aladdin Wealth technology platform. This partnership will manage approximately $80 billion in assets for thousands of Citi clients and is designed to offer customized investment strategies across various asset classes. This signals a shift in how banks serve high-net-worth clients, blending tailored advice from Citi’s private bankers with sophisticated, tech-enabled portfolio management from BlackRock.

Several staff from Citi's CIM will transition to BlackRock to maintain continuity of client service, showing how talent mobility is key in strategic transitions. This move is emblematic of an emerging model in wealth management where banks outsource asset operations to world-class managers, allowing them to focus on client relationships and financial planning.

Student Takeaway: This partnership illustrates how the future of finance is being shaped by collaborative platforms and tech-enabled service models. Future finance professionals will need to be comfortable working at the intersection of strategy, partnerships, and technology. The industry is increasingly built on combining strengths rather than operating in silos.

Definition: Solvency refers to a company’s ability to meet its long-term financial obligations and continue operating into the future. Unlike liquidity, which looks at short-term cash flow, solvency focuses on the overall financial health and whether a company’s assets are sufficient to cover its liabilities.

The formula is:

If a company has total liabilities of $500,000, net income of $120,000, and depreciation of $30,000, its solvency ratio is:

This means the company generates 30 cents of income (plus non-cash charges) for every $1 of debt—showing a relatively healthy solvency position.

Student takeaway: Solvency highlights the difference between short-term survival and long-term stability. Understanding it helps you evaluate whether a company can truly sustain itself over time, not just pay today’s bills.

Mistake: Not connecting your experience to the role

A frequent misstep is when people in interviews describe past internships, projects, or coursework without showing how those experiences translate to the role they’re applying for. For example, mentioning you “built a financial model for a class project” is fine, but if you don’t explain how that skill directly prepares you to work on client valuation models at an investment bank, it loses impact. Recruiters want to see relevance, applicability, and outcomes.

Always frame your experiences to highlight transferable skills. Ask yourself:

Which parts of my experience demonstrate I can perform this role effectively?

Use concrete examples and connect them explicitly to the responsibilities of the position, whether it’s financial modeling, client interaction, or strategic analysis. This makes your candidacy compelling and shows that you understand the firm’s expectations..

The Top 10 Schools Hired by Boston Consulting Group (BCG) as MBA Graduates

These schools are recognized as BCG's primary recruiting targets, contributing significantly to their MBA hiring pipeline.

1. University of Chicago (Booth)

2. Northwester University (Kellogg)

3. University of Pennsylvania (Wharton)

4. Harvard Business School

5. Columbia Business School

6. Duke University (Fuqua)

7. University of Michigan (Ross)

8. University of California, Berkeley (Haas)

9. Yale School of Management

10. New York University (Stern)

BCG’s top MBA recruiting schools reflect a strong preference for programs with rigorous analytical training, global reputation, and extensive alumni networks in consulting. Attending one of these institutions doesn’t guarantee an offer, but it provides significant exposure to BCG recruiters, access to case prep resources, and a peer group with consulting ambitions. For students, this emphasizes the importance of both building relevant skills and leveraging networks—even if you’re at a non-target school, standout performance and strategic networking can open doors

I apologize for this week’s issue was a little shorter than most issues, still trying to stay on top of my academics and my sport along with getting Campus Capital out weekly. An important thing to keep in mind while you’re adjusting to life back on campus is to take advantage of the resources around you, even if they aren’t provided by your school. What I mean by this is research things like internship or job fairs around you, not just ones that your school advertises. If you live within 2 hours of a major city, chances are that job fairs occur often. Better yet, if your close to a prestigious institution and you see that they’re hosting a job fair, go to it if you can get in.

Let this be another reminder to update and perfect your resume if you haven’t. Wall Street Oasis offers a free investment banking resume template for you to make your own

Welcome to Campus Capital. Each week, we’ll break down the finance world in 5 minutes or less.
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My name is Braunsen Bax, I’m a honors finance and accounting student-athlete at North Central College in Naperville, Illinois (45 mins outside of Chicago). I graduated from Walton High School in Marietta Georgia. Outside of the classroom I compete in the throws events for the Track & Field team, 35 time NCAA DIII national champions. I’ve had a love of finance and the business world since my sophomore year of high school and started Campus Capital to share that love with my community and like minded individuals in a similar position, with similar goals. My mission is to help people like me shape their futures to ensure they reach their goals while being up to date and educated in the Finance industry.