Question:

Should charities be taxed?

Answer:

Controversially, I said yes - but at a lower rate. I argued that, in theory, taxes pay for government services which even charities make use of. Also, taxation would provide another reason for charities to be transparent in their accounting and thereby reduce the likelihood of fraud.

Question:

You've been captain of your sports team and are obviously used to being in charge. How will you feel about being at the bottom of the food chain here?

Answer:

I said that I was captain because I earned the respect of those around me. In a new environment I'd have to do the same.

Question:

Do you agree with the private equity model of buying cheap, cutting costs and selling high?

Answer:

I said there are now so many financial sponsors in the marketplace that the opportunity to perform simple deals such as that described no longer exists. For one, there is often a protracted bidding war for the best assets, so deal sourcing becomes a bit of an arms race between big players looking for similar opportunities. Also, the general state of the financial services industry means that exit strategies are not so simple as an IPO, so private equity has been forced as an industry to (at least attempt to) add real value to its investments.

To return to the list of questions, click here.

We cannot guarantee the authenticity of these questions nor the accuracy of the answers: they are what one candidate claims to have been asked by Lazard and have not been verified by the bank.