Perella says he has never spoken to Forbes about the split but explained, “Some marriages last forever. In the pictures for the BusinessWeek article, Wasserstein looked thinner, heavily made-up, and awkwardly posed in his Savile Row suit. He went on to have two more sons, Jack and Dash, with his third wife, Claude Becker, a former CBS News producer.) Lucy Jane Wasserstein and Sarah Saltzberg attend the Broadway opening night of "Macbeth" at The Ethel Barrymore Theatre on April 21, 2013 in New York City. It looks like we don't have any Biography for Lucy Jane Wasserstein yet.. Be the first to contribute! “He was an amazing intellect and human being,” he says. Word around town was that Chao was fine with his decision to adopt Wendy Wasserstein’s daughter, Lucy Jane, and have her come live at 927 Fifth after Wendy’s death. Wasserstein and Perella met while working a corporate acquisition, and within 20 minutes of their first encounter, Wasserstein had taken control of the meeting. (Wasserstein had originally asked for a 10-year contract for $365 million.) He didn’t circulate a lot among the troops, and he had no business. I don’t think I want to try to characterize his reasons for it.”, Wasserstein promptly moved back to New York, as the head of Lazard, in early 2002. Despite efforts at supportive care and indications of recovery, he ultimately died of heart failure secondary to the arrhythmia.”. As this article went to press, an informed source, in conjunction with Howard Rubenstein and Judi Mackey, Lazard’s public-relations head, finally told Vanity Fair, “While in a car on his way to a lunch downtown with his daughter Pamela, Mr. Wasserstein experienced a sudden and unexpected cardiac arrhythmia. What if TriStar Pictures was founded in 1934? Brighten up your looks Lets rumble in our jungle Nobody in corporate America particularly cared about what he had to say, and he wasn’t particularly good about saying it. Why hadn’t he said anything to anybody?”. He’d come in; he’d go to his office. In 2009, Forbes had estimated Wasserstein’s net worth at $2.2 billion, making him the 147th wealthiest person in America. We continue to mourn his loss.” The mysteries start with where his grave is. (Rosenfeld declined to be interviewed about Wasserstein’s role.). Lazard’s apparent obfuscation of Wasserstein’s health issues is nothing new, however. Lucy Jane Wasserstein, daughter of the late Wendy Wasserstein, should be about 12 years old as of this writing. He was put on life support immediately upon arrival at the hospital. Some marriages end in divorce. We’ve got to get to know him.”. Lucy Wasserstein's parents: In 1999, at age 48, Wasserstein had a daughter, Lucy Jane, born three month prematurely. Rather than face that prospect, the board capitulated. So Brooklyn would be the logical place for the Wasserstein-family plot, which would contain not only his grave but also those of his sister Wendy, the Pulitzer Prize–winning playwright, who died in 2006 at age 55 from lymphoma; his half-sister, Sandra, a senior executive at Citibank, who died in 1997 at age 60 from breast cancer; and his parents, Morris and Lola Wasserstein, who died in 2003 and 2007, respectively. “This is a sign of how out of touch he was,” says a longtime partner. (Claude, who was said to have been heartbroken, declined to comment for this article.) He was raising her daughter, Lucy Jane, now 10. Use of this site constitutes acceptance of our User Agreement (updated as of 1/1/21) and Privacy Policy and Cookie Statement (updated as of 1/1/21) and Your California Privacy Rights. In January 2008, Wasserstein wrung from his handpicked board of directors a new five-year employment contract that paid him $900,000 a year in salary, plus an annual unspecified bonus, plus 2.7 million shares of Lazard, worth just under $100 million the day the deal was struck. Once, when they were being photographed for the cover of Fortune magazine, Wasserstein made a big deal about how they would look together. If you look at the success of the firms with which Bruce was associated,” says Rosen, “I believe that what made his life remarkable was the impact he had on people: the people in whom he believed, the people who he supported—and obviously there were those who he didn’t—and the effect that he had on the professional and personal development of those people over a long period of time. What if Disney acquired BOTH Pixar and Studio Ghibli back in 2006?/Mario’s Mushroomy Tales, https://the-idea.fandom.com/wiki/Lucy_Jane_Wasserstein?oldid=64203. It never varied, and I had a lot of meals with him, right? About two years after Lucy Jane Wasserstein’s birth, her mother began treatment for what turned out to be lymphoma. They formed Wasserstein Perella & Co., but Perella stayed only five years at the new company—fulfilling the letter of his contract—before decamping to Morgan Stanley as a senior rainmaker. Get premium, high resolution news photos at … If you haven’t heard about it, that means the family members and others didn’t want to talk about it. “He had a remarkable ability to get his way, even among the headstrong and rather self-important bankers and lawyers who make up the mergers- and-acquisitions community. Ad Choices. What if Viacom and CBS didn’t demerge in 2006? Wasserstein's sister, Pulitzer Prize-winning playwright Wendy Wasserstein, died suddenly in 2006 of lymphoma at 55. Bloomberg News wrote on January 19 that the successful deal “seals the legacy” of Wasserstein, and quoted former Lazard banker Philip Keevil as saying, “This deal will be a monument to Bruce.”, Wasserstein does get credit at Lazard for bringing in the business—in the sense that he finally brought in a deal—but the dénouement was seen by some as the same old script of getting the client to win by paying too much. What if United Productions of America remains open? If he generated $30 or $40 million worth of fees in the nine years he was at Lazard, he generated a lot. He just could take the money. 19 (approx.) Just click the "Edit page" button at the bottom of the page or learn more in the Biography submission guide. ... Lucy Jane, and everyone in her family. Life After Wasserstein. “Bruce proceeded to launch into a distinctive, long-winded Wassersteinian monologue about all of the different issues facing Slovakia’s privatization program, corporate sector, and politics generally given its recent separation from the Czech Republic,” Grafstein wrote. At the end of the conversation, Reichstetter told Rosen, “He really believed in people.” That comment got Rosen thinking. I go through these cycles. “It is a fact that he moved to London. Then, in February 2006, he disappeared from Lazard’s offices for four months. The guests and his colleagues tried unsuccessfully to interrupt several times. After Wasserstein’s death, Jacobs expensed in one fell swoop the costs remaining on Wasserstein’s five-year employment contract. On behalf of the firm, Judi Mackey issued this statement: “Bruce was a visionary leader of the firm from January of 2002 until his untimely passing in October 2009. What if Tezuka Productions started using on-screen logos in the 1960s? The arrhythmia caused him to lose consciousness. “I find that question offensive,” says Georgette Levis, Bruce’s sole surviving sister and the proprietor of the Wilburton Inn, in Manchester, Vermont, when asked to disclose the location. How could you have done that?’” recalls a managing director. At 40, Wasserstein made a To Do list of things left over from when she turned 30: lose weight, improve friendships, ... She is survived by her daughter Lucy Jane, sister and brother. of the company that you were taking him to see.” The message the clients delivered time and time again was a simple one: Don’t bring him back. It was kind of, well, ‘I won. Yet, they remain appalled by how little he actually did—both in bringing in new business and in managing the company—while negotiating for himself one huge pay package after another. The firm made no announcement concerning the health of its C.E.O., despite the fact that its public shareholders were entitled to know that information. Vanity Fair may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. Not bad for a guy who was willing to make it up as he went along, as his old friend Larry Grafstein put it. Many of Wasserstein’s former partners there think he then pressed his advantage at the firm in an unfair way, even as they acknowledge that had he not engineered the I.P.O. WASSERSTEIN-Wendy. Perella, who is elegant, tall, and thin, believes that, underneath the bravado, his former partner was “inherently very, very shy.” He laughingly remembers how, when the two of them posed together for pictures, Wasserstein was always sensitive to his height in relation to Perella’s. “If you go back over those 30 years, what you discover is he had a significant influence, if not the significant influence, in building three different firms and three firms that were each very different, one from the others. By November 2006, Wasserstein was ready to re-introduce himself to Wall Street and corporate America. Finally, the finance minister said, ‘Excuse me, Mr. Wasserstein. He had been running very late and an assistant told him to go immediately to a conference room to meet representatives of the government of Slovakia. What if WarnerMedia (through AT&T) approached NBCUniversal ten days after The Walt Disney Company? The playwright was single at the time and did not disclose the name of the baby’s father. debuted in 1963? Then there is the seemingly straightforward question of precisely how Wasserstein died, three days after being hospitalized suddenly in New York with “heart palpitations” experienced in the backseat of his chauffeur-driven sedan, according to a former colleague. However, Antonio Weiss, Lazard’s global head of investment banking, who worked with Wasserstein closely on the deal and led it after Wasserstein died, couldn’t disagree more: “Bruce’s last deal was specifically designed to acquire the target company at the lowest possible price,” he says. Many published reports suggested that Wasserstein was the architect of Kraft’s strategy and that he personally advised Kraft and its C.E.O., Irene Rosenfeld, during the months before he died. Jacobs considered getting rid of Lazard’s fractionally owned corporate jet, which had ferried Wasserstein almost everywhere he went, but ultimately couldn’t bring himself to. This was a reporting coup for sure, since Wasserstein had all but abandoned the idea of allowing himself to be the focus of a major magazine story after Deirdre Fanning of Forbes had written the infamous “Bid ‘Em Up Bruce” cover story, of August 1989, which suggested that Wasserstein encouraged his clients to hugely overpay for companies. In this chapter of his life, he was functioning on all cylinders, which is why his sudden demise was a surprise to all of us.” Asked about his “sudden demise,” this person says, “I would have thought you’d heard the story from lots of people. This stuff just rolled off his back. Daughter Lucy Jane (pictured with cousins Jack and Dash) was left in the care of Bruce and Claude Wasserstein. Catherine Gay, Communications Elle Magazine To Plant Memorial Trees in memory, please visit our Sympathy Store. Mother: Pulitzer Prize-winning playwright, Wendy Wasserstein. “The less people know about you and your feelings, the more powerful your negotiating position will be—in everything. So, finally, one day I say, ‘Bruce, look, you’re not going to want to hear this, but I don’t think you’re eating a healthy diet.’ And he said to me, ‘You’re right. The last years of Bruce Wasserstein, the investment-banking mogul who died at age 61 last October after a brief, undisclosed illness, remain shrouded in mystery, which is probably how Wasserstein would have wanted it. “Bruce and Kathleen had a very, very animated discussion about politics and the present state of political affairs. “Oh, God, he just wouldn’t pose for a picture standing side by side. Shortly after an ambulance took him to a local hospital (nobody will say which one), Lazard—the 162-year-old publicly traded investment-banking firm of which Wasserstein was chairman, C.E.O., and the largest individual shareholder—issued the following statement: “His condition is serious, but he is stable and recovering.”, According to several people familiar with what happened to Wasserstein that Sunday afternoon, Lazard’s public statement was inaccurate. while Wasserstein was away, point-blank about Wasserstein’s health. After a brief pause, Bruce—always a bit faster and more confident than most of us—answered: ‘And that’s precisely your strategic dilemma.’”. Together, they made First Boston a leader in M&A, and then, in 1988, they left the firm after Wasserstein made a dramatic, failed gambit to become C.E.O. And History, Ancestry and Genealogy the tax authorities in the worst light, you would say he never. 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