Cyrus Kapadia has been promoted to chief executive of investment banking in the UK for Lazard, succeeding William Rucker, who becomes chairman of the division.
Former Conservative MP and current chairman Archie Norman will become a special adviser to Kapadia. He is also chairman of retailer Marks & Spencer.
Rucker has been in his present post for 15 years, nearly half his time at the firm. Kapadia, deputy head of UK investment banking, leads the technology, media and telecoms advisory group in London.