Former Barclays CFO Naguib Kheraj is leaving his role as chief executive of investment advisory Lazard after just two months in the job, because he has not been able to juggle it with his philanthropic activities.
Kheraj joined Lazard on 1 January in a role that reportedly was created for him, but in a statement he said that he "underestimated the difficulty of managing my external activities in a way that would enable me to be properly engaged in an executive role." He is chairman of the national committee at the Aga Khan Development Network, a charity working on environmental, education, rural development and health projects in the global Muslim community. "I am very sad to be leaving Lazard, and have not taken this decision lightly," Mr. Kheraj said.
Kheraj was previously chief executive of JPMorgan Cazenove and was CFO of Barclays before that. He has also served as a senior advisor to the Financial Services Authority and HM Revenue & Customs.
On his appointment to CEO at JPMorgan Cazenove he said: "As a chief executive, you are more the driver of the business," he said. "If I'd wanted to stay as an FD, I would have stayed at Barclays."
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
1830, 12 Mar 2013
Now in their second year, these prestigious awards recognise those in finance that have demonstrated success and innovation over the last 12 months. Entries are now open!
3pm, 28 Nov 2013
Join Financial Director for this informative web-seminar on how to use communication technology as a way to improve productivity, profits and reduce costs
Send to a friend