Peter Orszag

Peter Orszag is an American economist, business executive and former government official who is the chief executive and chairman of Lazard, one of the world's most prestigious investment banks. Born in 1968, Orszag first rose to prominence in public policy, serving as the director of the Office of Management and Budget under President Barack Obama and earlier as director of the Congressional Budget Office. He then made the move from Washington to Wall Street, building a second career in finance that culminated in leading Lazard, a rare journey from the top of economic policymaking to the top of an investment bank.

This profile covers who Peter Orszag is, his early life and education, his career in government and economics, his move into finance, his leadership of Lazard, his net worth and his current role.

Early Life and Education

Peter Richard Orszag was born in 1968 in the United States. A gifted student, he pursued his higher education at Princeton University, where he earned his undergraduate degree in economics, graduating with distinction. He then continued his studies at the London School of Economics, where he earned a doctorate in economics, studying as a Marshall Scholar.

This rigorous academic training in economics laid the foundation for a career that would span academia, government and finance. Orszag established himself early as a serious economic thinker, with expertise in fiscal policy, budgets and the economics of public programs, areas that would define the first major phase of his career.

Career in Economics and Government

Peter Orszag built an early career as an economist in both academia and government. He worked on economic policy during the Clinton administration and was involved in economic research and policy institutions, becoming a respected voice on fiscal and budgetary matters. He co-founded an economic consulting firm and was associated with leading think tanks, building a reputation as a sharp analyst of public finance.

His expertise led to two of the most important economic policy roles in the United States government. He served as director of the Congressional Budget Office, the nonpartisan agency that provides Congress with analysis of the federal budget and economic issues. He then became director of the Office of Management and Budget under President Obama, a cabinet level position overseeing the preparation and management of the federal budget, at a time of economic crisis and major policy debates including healthcare reform. These roles placed him at the very center of American economic policymaking.

Moving to Wall Street

After his service in government, Peter Orszag made the notable transition from public policy to private finance, joining the world of investment banking. He took on senior roles at Citigroup, applying his deep understanding of economics, policy and institutions to advising clients and to the business of banking. This move from the top of economic policymaking to high finance was a significant career shift, though one that drew on his analytical skills and his extensive knowledge of how governments, markets and large institutions work.

His transition reflected a path taken by a number of prominent policymakers, leveraging their expertise and networks in the private sector. Orszag focused particularly on financial advisory work, helping companies with mergers, acquisitions and strategic financial decisions, an area where his judgment and credibility were valuable.

Leading Lazard

Peter Orszag joined Lazard, the storied financial advisory and asset management firm, and rose to become its chief executive and chairman. Lazard is one of the most prestigious independent investment banks, known for its advisory work on major mergers, acquisitions and restructurings around the world. Leading it placed Orszag at the top of elite finance, responsible for the strategy and performance of a firm with a long and distinguished history.

As chief executive, Orszag has worked to grow Lazard's advisory and asset management businesses and to position the firm for the future, setting ambitious goals for its expansion. His leadership combines his economic and policy background with the demands of running a global financial institution, and he has become a prominent figure in both finance and economic commentary, frequently sharing his views on the economy and policy.

Peter Orszag Net Worth

Peter Orszag net worth is estimated in the range of tens of millions of dollars. While his early career in government and academia was not especially lucrative, his move to Wall Street, including senior roles at Citigroup and his leadership of Lazard, generated substantial compensation. His wealth comes from his finance career, including salary, bonuses and equity, rather than from founding a company.

Because much of his wealth is tied to his earnings and holdings in the financial industry, any specific figure is an estimate. His financial position reflects a successful second career at the top of investment banking following a distinguished career in economic policy.

Personal Life

Peter Orszag generally keeps aspects of his personal life private, though as a former senior government official and a prominent finance executive he has a substantial public profile. He remains an active commentator on economics and public policy, writing and speaking on fiscal issues, the economy and related topics. His unusual career, bridging the worlds of economic policymaking and high finance, is central to his public identity.

Achievements and Influence

Peter Orszag's achievements span two distinct fields. In government and economics, he directed both the Congressional Budget Office and the Office of Management and Budget, holding two of the most important economic policy roles in the country. In finance, he rose to lead Lazard, one of the world's premier investment banks. His influence extends across economic policy, where his analysis is widely respected, and finance, where he leads a major advisory firm. His career is a notable example of movement between Washington and Wall Street.

Peter Orszag in 2026

As of 2026, Peter Orszag continues to serve as chief executive and chairman of Lazard. The themes around him include his efforts to grow the firm's advisory and asset management businesses, his ambitions for its expansion, and his ongoing role as a prominent voice on economics and public policy, bridging the worlds of finance and government.

He is profiled alongside other leaders in the Finance sector on Founder Canon, the executives and advisers who steer capital and shape economic policy.