Lazard is one of the world’s preeminent financial advisory and asset management firms. Our people and culture make the difference. While global in presence and reach, ours is a close, collaborative community of just over 3,000 professionals. Lazard is a place of continuous knowledge sharing, skill development and relationship building, where professionals grow and succeed together. Our entrepreneurial culture, flat structure and embrace of individual differences, allow creative ideas, original concepts, and unique perspectives to drive our business forward — and for careers to take flight.

The Lazard Global Fixed Income team invests in the global bond and credit markets, taking currency risk when appropriate. The team’s investment process is driven by an informed macro view of global interest rates, yield curves, sector spreads and currencies, combined with an opportunistic, but disciplined security selection process. We combine quantitative methods with qualitative fundamental analysis to drive better investment outcomes for our clients.

Our hands on, 10-week internship is designed as a Summer Associate program for students between their junior and senior year who are interested in pursuing a career in Fixed Income. In addition to role-specific training, interns also receive mentorship, engage in networking and volunteer opportunities, and benefit from employee resource groups such as LEAD, focused on the development of future leaders through training, internal mobility, and philanthropy.  The summer internship concludes with a final capstone project in which interns present an innovative sales pitch or a white paper on an interesting industry topic to senior leadership at the firm.

What the Intern Will Gain

• Direct exposure to institutional FX execution and currency risk management
• Working knowledge of money market fund regulation and liquidity management
• Visibility into how trading, portfolio management, and risk functions interact
• Mentorship from senior practitioners and a final presentation to leadership

Eligibility Criteria

• This program is open to rising undergraduate seniors only. You must be graduating in 2028!
• Ability to start an internship June 7, 2027, and end August 13, 2027
• Ability to be in NYC for the duration of the internship
• Authorization to work in the United States without visa sponsorship 

We’ll trust you to:

• Macro research and FX trade recommendations: Collaborate with PMs/Portfolio Analysts to conduct macroeconomic and currency research, including central bank policy, rate differentials, inflation and growth data, and capital flows. Develop and present internal FX trade ideas and hedging recommendations to the group, with supporting rationale, risk/reward framing, and sizing considerations. Track and review the performance of ideas over the internship.
• FX Exposure management: Help monitor and reconcile currency exposures across portfolios. Support hedging analysis on hedge ratios and P&L attribution.
• Cross-desk collaboration: Work with the fixed income and equity trading desks on FX needs arising from security trades. Support the global fixed income portfolio management team with currency analysis and cash positioning.
• Process review and enhancement: Review the group's current workflows, tools, and reporting processes, and identify opportunities to improve efficiency, controls, and data quality.
• Broker engagement and onboarding: Support the onboarding of new FX broker and liquidity provider relationships, with the aim of maintaining a diversified set of liquidity providers. Coordinate with the internal account services group and broker credit onboarding teams on account setup, documentation, and credit approvals. Help track onboarding status and maintain counterparty coverage.
• Money market fund and cash management: Support daily liquidity monitoring, including cash flows, subscription and redemption activity, and portfolio maturity profile.

You'll need to have:

• Consistent academic achievement and previous work experience
• Strong analytical, problem‑solving, and critical‑thinking skills, with excellent attention to detail
• Exceptional communication skills, and the ability to distill complex concepts clearly and efficiently
• Passion for fixed income investing and a strong desire to learn and grow within the industry
• Experience with quantitative and fundamental research methods
• High proficiency in Microsoft Excel and PowerPoint
• Curiosity and initiative to develop original ideas
• Familiarity or experience with generative AI tools (e.g. ChatGPT, Copilot, Claude, or similar) 

Note, we will review applications on a rolling basis.

If this sounds like you, apply and a member of our recruitment team will be in touch! 
 

Representation at Lazard

Lazard is an intellectual capital business committed to delivering the best advice and solutions to clients. To achieve these objectives, we focus on attracting, developing and retaining the best talent. We believe that a workforce comprised of people who represent a wide array of backgrounds, experiences and perspectives creates a rich variety of thought that empowers us to challenge conventional wisdom, solve problems creatively and make better decisions.

Lazard was built on the premise that a multicultural firm can best serve a global clientele. As a global firm that has grown organically from local roots in different countries, we have a deep tradition of respecting and appreciating individual differences. Doing so has been core to our success for over 175 years. We are committed to sustaining an environment where every colleague is supported in their professional pursuits, can maximize their individual potential and contribute to our collective success.

Compensation: Pro-rated base annual salary of $90,000 

#LAM

#LI-AK1