Lazard looks to brighter 2020 after bruising dealmaking slowdown

NEW YORK (Reuters) - Investment bank Lazard Ltd said on Thursday net profit in 2019 slumped by 44% year on year, as last year's slowdown in corporate dealmaking weighed on earnings, but the company said fourth-quarter activity gave grounds for optimism in 2020.The drop came as global banking revenue for mergers and acquisitions (M&A), one of Lazard's main revenue drivers, fell 10% in 2019 to $25.8 billion, according to Dealogic. Lazard ranked seventh in global bank M&A last year, up from eighth..