Buchanan Heads Lazard's ECM Push

Lazard plans to expand its equity capital markets business in the U.S., and has recruited William Buchanan to head the unit.

Buchanan, who replaces Jonathan Biele in the role, will also co-head Lazard's corporate finance group with managing director Joseph Maybank. According to the Financial News, Biele will take on a senior banking role in the firm's life sciences group.

Buchanan comes to Lazard from Cowen and Company, the investment banking arm of securities firm Cowen Group. There, he was an executive vice president, head of equity capital markets and a member of the executive committee. He will be based in New York.