According to BNN Bloomberg, Pappone, who most recently served as head of Lazard’s equity capital markets advice in Italy and financial institutions group, will depart the company before the end of the year.

The executive has recently been involved in some of the most significant M&A deals and IPOs in Italy. He will keep track of important financial institutions’ dealings for Lazard to maintain reliability.

His team will continue to monitor FIG activities.

Pappone left Goldman Sachs in 2006 to work for Lazard, where he was in charge of corporate finance in Italy.

He has carried out consulting operations in Italy since 1989 in a variety of industries, working out of both London and Milan.          

At Lazard, the investment banker was named head of FIG and ECM for Italy, as well as chief operational officer of the Italian division.

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Lazard’s Italy business are led by more than 40 bankers based in Milan.

Following the launch of a designated office in Milan in 2001, its presence in the country has also embraced asset management.

Lazard’s offers clients dependable, independent financial advice and investment solutions that are supported by the company’s intellectual capital.

It was established in 1848 and now has operations in over 41 cities spread over 26 nations in Central and South America, Europe, Asia, and North America.

The company offers assistance to businesses, partnerships, organisations, governments, and people with asset management, and mergers and acquisitions.

A number of adjustments from numerous banks are causing the market to shift.

Most recently, Aladdin Hangari, one of Credit Suisse’s top private bankers in the Middle East, is in further discussions to join HSBC Holdings Plc, indicating more competition for the oil-rich region’s wealth management sector.