Lazard Asset Management has hired Sean Reynolds as a director specializing in events, special situations and convertible arbitrage strategies, effective immediately. He will be based in New York.

Reynolds joins Lazard from SAC Capital Management where he managed the firm’s relative value strategy portfolios. He has also managed convertible arbitrage portfolios for Sailfish Capital Partners and the Clinton Group.

Ashish Bhutani, Lazard Asset Management’s CEO, stated: “Lazard welcomes Sean and the depth of experience that he brings managing relative value portfolios. We are committed to offering ‘best in class’ products to our clients. The development of a relative value strategy is a key component to the continued growth of Lazard’s Alternative Investment business.”

LAM and affiliated asset management companies in the Lazard Group managed more than $110 billion of client assets as of December 31, 2006.