From shaping U.S. economic policy to leading a major global financial firm, Peter Orszag has built a career across government, academia, and business. Peter Orszag’s biography in 2026 highlights his journey from an economics student to a prominent financial executive.
He is the CEO and chairman of Lazard, a global financial advisory and asset management firm, where he helps guide the company’s strategy and long-term growth. <Cite refs={[“turn483424search0″,”turn483424search4”]}/>
Orszag previously held influential roles in the U.S. government, including director of the Congressional Budget Office (CBO) and director of the Office of Management and Budget (OMB) under President Barack Obama.
Who Is Peter Orszag?
Peter Richard Orszag is an American economist and financial executive best known for leading Lazard. He became the firm’s Chief Executive Officer in October 2023 and assumed the additional role of Chairman of the Board on January 1, 2025. His career includes senior positions in the U.S. government, economic research, and investment banking.
Orszag first gained national attention through his work on federal budget policy. As Director of the Congressional Budget Office, he oversaw economic and fiscal analysis for Congress. He later joined the Obama administration as Director of the Office of Management and Budget, where he worked on federal spending, economic recovery, and healthcare policy.
After leaving government, Orszag moved into senior roles in the financial sector. He joined Citigroup before beginning his career at Lazard in 2016. At Lazard, he advanced through leadership positions before becoming CEO.
His background is notable because it combines economic analysis with experience in government decision-making and private-sector finance. Official biographies from Lazard and the Aspen Economic Strategy Group document these major career milestones.
Peter Orszag Biography: Quick Facts
The following table summarizes key information about Peter Orszag’s professional and personal background.
| Detail | Information |
| Full name | Peter Richard Orszag |
| Profession | Economist and financial executive |
| Nationality | American |
| Birth date | December 16, 1968 |
| Age in 2026 | 57 |
| Current leadership role | CEO and Chairman of Lazard |
| CEO appointment | October 1, 2023 |
| Chairman appointment | January 1, 2025 |
| Undergraduate education | Princeton University |
| Doctoral education | London School of Economics |
| Government roles | Director of the CBO and Director of the OMB |
| Previous private-sector employer | Citigroup |
| Current firm | Lazard |
| Spouse | Bianna Golodryga |
| Personal net worth | No reliably verified public figure |
| 2025 awarded compensation at Lazard | $15 million, according to the firm’s 2026 proxy statement |
The compensation figure refers to the amount Lazard reported awarding for 2025. It should not be confused with salary alone, cash received during the year, or personal net worth.
Peter Orszag Age and Early Life
Peter Orszag was born on December 16, 1968. He turned 57 in December 2025 and is 57 years old during most of 2026.
He grew up in an environment that encouraged intellectual development and academic achievement. His later career reflects a sustained interest in economics, public policy, healthcare spending, and the financial challenges facing governments and institutions.
However, a biography should distinguish documented information from assumptions about someone’s upbringing. Public professional biographies focus primarily on Orszag’s education, research, government appointments, and business career. They do not provide a comprehensive account of every aspect of his childhood.
Rather than relying on unverified personal anecdotes, it is more useful to examine the education and research experience that shaped his professional path. His academic background gave him the tools to study complex economic questions, assess public spending, and communicate financial analysis to decision-makers.
These skills became important during his time at the Congressional Budget Office and the Office of Management and Budget. They also remain relevant to his work advising companies and governments through Lazard.
Peter Orszag Education and Academic Background
Education played a central role in Peter Orszag’s development as an economist. He attended Princeton University, where he graduated summa cum laude with a degree in economics. He later earned a Ph.D. in economics from the London School of Economics as a Marshall Scholar.
His academic achievements reflect a strong foundation in economic theory, quantitative analysis, and public policy. These disciplines help economists examine how governments allocate resources, how policy changes affect financial outcomes, and how institutions respond to economic risks.
Princeton University
Orszag graduated summa cum laude from Princeton University, one of the major milestones in his academic career. His economics education provided a foundation for studying public finance, economic growth, and government policy.
Economics graduates can pursue careers in research, government, consulting, academia, or financial services. Orszag’s career eventually brought together several of these areas.
His later government work required him to understand federal revenue, spending, and long-term fiscal pressures. His financial-sector roles demanded a different application of economic knowledge, including advising organizations on strategic decisions in changing markets.
London School of Economics
Orszag earned his Ph.D. in economics from the London School of Economics, where he studied as a Marshall Scholar. Doctoral training generally requires advanced research, detailed analysis, and the ability to evaluate complex economic questions.
That background suited the analytical demands of his early public-policy career. His work later focused on subjects such as healthcare expenditure, fiscal sustainability, and the long-term outlook for government finances.
His education also helps explain why he has moved between economic research, public service, and financial leadership. These fields differ in their day-to-day responsibilities, but all require the ability to evaluate evidence, understand risk, and explain complicated issues clearly.
Peter Orszag Career Timeline
Peter Orszag’s career developed across academia, public service, and financial leadership. The timeline below highlights the major stages of his professional journey.
| Period | Career milestone |
| Early career | Worked in economic research and public policy |
| Clinton administration | Served at the Council of Economic Advisers and as Special Assistant to the President for Economic Policy |
| 2007–2008 | Directed the Congressional Budget Office |
| 2009–2010 | Directed the Office of Management and Budget under President Barack Obama |
| 2010–2016 | Worked at Citigroup |
| 2016 | Joined Lazard as Vice Chairman of Investment Banking |
| 2018–2019 | Held senior leadership responsibilities in North American mergers and acquisitions and global healthcare |
| 2019–2023 | Served as CEO of Lazard’s Financial Advisory business |
| October 2023 | Became CEO of Lazard |
| January 2025 | Assumed the additional role of Chairman of the Board |
The timeline is based on professional biographies and institutional announcements, including Lazard’s leadership profile and the Brookings announcement about his return to Economic Studies.
Peter Orszag’s Government Career
Before becoming a senior figure in investment banking, Peter Orszag built a substantial career in U.S. economic policy. His government service gave him experience with federal budgeting, fiscal analysis, healthcare spending, and economic recovery.
He served in the Clinton administration and later held two influential positions under President Barack Obama. These roles placed him at the center of discussions about government finances and the economic challenges facing the United States.
Work in the Clinton Administration
Orszag served at the Council of Economic Advisers and as Special Assistant to the President for Economic Policy during the Clinton administration.
The Council of Economic Advisers provides economic analysis and advice to the president. Its work can involve employment, inflation, economic growth, taxation, public investment, and other issues affecting the national economy.
Serving in this environment gave Orszag experience with the relationship between economic research and presidential policymaking. It also helped establish the public-policy background that later supported his appointments to senior government positions.
Director of the Congressional Budget Office
Orszag became Director of the Congressional Budget Office in January 2007 and served until November 2008. The CBO provides Congress with independent analysis of budgetary and economic issues.
Its responsibilities include preparing budget projections, estimating the financial effects of proposed legislation, and analyzing federal spending and revenue. Lawmakers use these assessments when evaluating policy proposals and considering their potential effects on government finances.
During Orszag’s tenure, healthcare spending and long-term fiscal challenges received significant attention. Rising healthcare costs were an important concern because they could influence future federal spending and the sustainability of public programs.
The CBO’s role is analytical rather than political: it evaluates the budgetary consequences of policies instead of deciding which laws Congress should pass. This distinction matters when discussing Orszag’s contribution. His position involved providing economic information that lawmakers could use in their decisions.
For additional background, readers can consult the CBO’s own farewell message about Orszag’s tenure.
Director of the Office of Management and Budget
After leaving the CBO, Orszag joined the Obama administration as Director of the Office of Management and Budget. He held the position from January 2009 until July 2010.
The OMB supports the president in preparing the federal budget, coordinating executive-branch policy, and overseeing aspects of government management. Its responsibilities extend beyond forecasting because the office also helps agencies align their programs and spending with administration priorities.
Orszag served during a challenging period for the American economy following the 2008 financial crisis. His responsibilities included budget planning and economic policy coordination as the administration worked on recovery measures.
He also played a role in budget analysis connected with the Affordable Care Act. Healthcare reform raised important questions about coverage, spending, and the long-term financial effects of changes to the healthcare system.
Orszag’s work during this period illustrates how economic analysis can influence public decisions. His position did not mean that he alone designed or implemented every policy associated with the administration. Federal legislation and executive policy involve many officials, agencies, and members of Congress.
Brookings provides a useful account of this stage of his career in its 2015 announcement.
Peter Orszag’s Career at Citigroup
After leaving the Obama administration in 2010, Orszag moved into the private financial sector and joined Citigroup. The move represented a transition from government policymaking to advising businesses and financial clients.
At a large financial institution, economic analysis can help clients understand market conditions, assess risks, and evaluate major strategic choices. This work differs from government service because the focus shifts from public budgets and policy outcomes to the financial and business needs of clients.
Orszag’s experience in government and economic research offered a perspective that could be useful in financial advisory work. He had worked with complex economic data, understood the policy environment, and participated in decisions involving large institutions.
His time at Citigroup also formed a bridge between his public-service career and his eventual leadership position at Lazard.
Peter Orszag at Lazard
Lazard is a global financial advisory and asset management firm. It advises companies, governments, institutions, and other clients on matters such as mergers and acquisitions, financial restructuring, capital strategy, and broader economic challenges.
Orszag joined Lazard in 2016 as Vice Chairman of Investment Banking. He subsequently held several senior positions, including leadership roles in North American mergers and acquisitions, global healthcare, and Financial Advisory.
In April 2019, he became CEO of Lazard’s Financial Advisory business, a position he held until September 2023. He then moved into the firm’s top executive role.
Appointment as CEO
Lazard announced Orszag’s appointment as CEO in May 2023, with the change taking effect on October 1, 2023. The announcement reflected the firm’s decision to place an executive with experience in banking, government, and economic policy at the head of its business.
As CEO, Orszag oversees the firm’s strategic direction and operations. His responsibilities include developing client relationships, guiding business priorities, attracting talent, and supporting the firm’s long-term performance.
Lazard operates in a competitive environment where advisory firms must maintain strong client relationships and respond to changes in financial markets. Economic conditions, interest rates, geopolitical developments, and corporate activity can all affect demand for advisory services.
Orszag’s background in public policy may help him assess these broader forces, although the firm’s performance depends on many factors beyond the experience of one executive.
The original CEO appointment announcement is available on Lazard’s website.
Appointment as Chairman
Orszag became Chairman of Lazard’s Board of Directors on January 1, 2025, while continuing as CEO. The combined role gives him executive responsibility for the business and the chairmanship of its board.
Lazard announced the board appointment in November 2024. The announcement also explained changes involving other senior board leadership positions.
The CEO and Chairman roles have distinct responsibilities. The CEO leads the company’s operations and strategy, while the board oversees governance and provides direction and accountability at the highest corporate level. At Lazard, Orszag holds both positions.
His current role places him at the intersection of corporate strategy, financial advisory, and global economic developments.
For confirmation, see Lazard’s announcement about the chairman appointment.
Peter Orszag Salary and Compensation in 2026
Peter Orszag’s compensation is a common topic of interest because he leads a major publicly traded financial firm. Unlike an unsupported estimate of personal wealth, executive compensation can be examined through corporate disclosures.
According to Lazard’s 2026 proxy statement, the firm awarded Orszag total compensation of $15 million for 2025. The reported award consisted of a $900,000 base salary, a $3.9 million annual cash incentive, and $10.2 million in long-term incentive awards. The same reported total applied to 2024.
| Compensation component | Amount awarded for 2025 |
| Base salary | $900,000 |
| Annual cash incentive | $3,900,000 |
| Long-term incentive awards | $10,200,000 |
| Total awarded compensation | $15,000,000 |
Source: Lazard’s 2026 proxy statement filed with the SEC.
These figures require context. A $15 million compensation award is not the same as a $15 million annual salary. Most of the reported amount came from incentives rather than base pay.
Long-term awards may also have vesting conditions or depend on future performance. Their reported value should not automatically be treated as cash that Orszag received immediately or as money he kept after taxes.
The figures above describe compensation awarded for 2025, as disclosed in a proxy statement published in 2026. They do not establish his final compensation for the entire 2026 financial year. For the latest figures, readers should consult Lazard’s future filings and official disclosures.
Peter Orszag Net Worth: What Is Known?
Peter Orszag’s net worth is difficult to establish accurately from publicly available information. Although his executive position and reported compensation provide evidence of substantial professional earnings, they do not reveal the complete value of his personal assets and liabilities.
Net worth generally means the total value of a person’s assets minus their liabilities. A calculation could involve investments, real estate, cash, retirement accounts, private holdings, debts, and other financial obligations.
Public-company disclosures may reveal certain forms of executive compensation, stock awards, or share ownership. However, those details do not necessarily provide a complete picture of an executive’s finances.
For this reason, an exact figure for Peter Orszag’s net worth in 2026 should not be presented as verified without reliable evidence. Online estimates that do not explain their methodology or cite credible documentation should be treated cautiously.
His disclosed compensation offers a stronger factual basis for discussing his financial position than an unsourced net-worth estimate. Readers should also remember that compensation is only one part of personal wealth, and the amount awarded is not necessarily the same as the amount ultimately received or retained.
Peter Orszag Wife and Family
Peter Orszag is married to Bianna Golodryga, a journalist and CNN senior global affairs analyst and correspondent. Her professional work focuses on journalism, international affairs, and major news developments.
The couple’s marriage is mentioned in Orszag’s professional biography on Lazard’s website. Golodryga has built her own public career in journalism, separate from Orszag’s work in economics and finance.
Although readers may search for details about Peter Orszag’s wife, children, and family life, reliable public biographies provide more information about his professional activities than his private household. Personal details should not be filled in through speculation or repeated from sources that do not establish their accuracy.
A responsible biography can acknowledge his marriage while keeping the focus on documented information. This approach also avoids confusing publicly known facts with assumptions about the family’s private life.
Peter Orszag’s Achievements and Professional Influence
Peter Orszag’s career includes several milestones that help explain his influence in economic policy and financial services.
Leadership in two major government institutions
Orszag led both the Congressional Budget Office and the Office of Management and Budget. These institutions serve different functions, but both are important to the development and evaluation of federal budget policy.
His experience in these roles gave him insight into how government spending, fiscal projections, and economic assumptions shape public decisions.
Focus on healthcare spending and fiscal policy
Healthcare costs and long-term fiscal sustainability were important subjects during his government career. Healthcare spending can affect households, businesses, public programs, and government budgets, making it a central issue for economists and policymakers.
Orszag’s work in this area contributed to his profile as an economist who connects technical analysis with practical policy questions.
Leadership in global financial advisory
His progression at Lazard—from Vice Chairman of Investment Banking to CEO of Financial Advisory, then CEO and Chairman—marks a major private-sector achievement.
These positions require more than economic expertise. They involve strategic planning, client relationships, organizational leadership, and decisions about how the firm competes in global markets.
Experience across sectors
Orszag’s career spans government, economic research, and financial services. This combination is an important part of his professional profile because it gives him experience with different institutional perspectives.
Government officials focus on public objectives, economists evaluate evidence and policy outcomes, and financial advisers help clients navigate business and market decisions. Experience across these areas can provide a broader view of economic challenges, although each role has its own responsibilities and constraints.
Peter Orszag’s Board Memberships and Affiliations
In addition to his responsibilities at Lazard, Orszag participates in several organizations connected with research, health, and economic policy.
Lazard’s official biography lists affiliations and board service that include the following:
- Council on Foreign Relations: A nonprofit organization focused on international affairs and foreign policy.
- Aspen Economic Strategy Group: A forum that brings together experts to discuss important economic policy challenges.
- Institute for Advanced Study: An independent research institution.
- Peterson Institute for International Economics: A research organization focused on international economic policy.
- Mount Sinai Hospital: An institution within the healthcare and medical research sector.
- National Academy of Medicine: An organization that brings expertise to issues involving health, medicine, and policy.
These affiliations reflect his continuing involvement in economic research, healthcare, and public-policy discussions. The exact nature of each role can differ, so readers seeking current details should check the relevant organization’s official leadership or membership page.
For the most reliable and current summary, consult Orszag’s Lazard biography.
What Makes Peter Orszag’s Career Distinctive?
Peter Orszag’s career is distinctive because it crosses professional boundaries that are often treated separately.
His academic training provided a foundation in economics. Government roles gave him experience with federal budgeting and policy analysis. His later work in financial services shifted his focus toward corporate clients, financial strategy, and global markets.
This combination does not mean that expertise in one area automatically guarantees success in another. Public administration, economic research, and corporate leadership require different skills. However, his career demonstrates how analytical experience can carry across institutions when paired with the ability to manage people, communicate clearly, and make strategic decisions.
His current position at Lazard also places him in a field shaped by factors that extend beyond individual companies. Interest rates, international trade, political developments, regulation, and investor confidence can influence corporate decisions and demand for financial advice.
Understanding this wider context helps explain why an economist with government experience may be relevant to a financial advisory firm. It also gives readers a more complete view of his career than a simple list of job titles.
Frequently Asked Questions
Who is Peter Orszag?
Peter Orszag is an American economist and financial executive. He is the CEO and Chairman of Lazard and previously directed the Congressional Budget Office and the Office of Management and Budget.
How old is Peter Orszag in 2026?
Peter Orszag was born on December 16, 1968. He is 57 years old in 2026 and will turn 58 on December 16, 2026.
What is Peter Orszag’s current job?
As of 2026, Peter Orszag serves as CEO and Chairman of Lazard, a global financial advisory and asset management firm.
What is Peter Orszag’s educational background?
He graduated summa cum laude from Princeton University with a degree in economics and earned a Ph.D. in economics from the London School of Economics as a Marshall Scholar.
Was Peter Orszag part of the Obama administration?
Yes. He served as Director of the Office of Management and Budget from January 2009 until July 2010 under President Barack Obama.
What did Peter Orszag do at the Congressional Budget Office?
He directed the CBO from January 2007 until November 2008. The agency provides Congress with independent analysis of federal budget and economic issues.
What is Peter Orszag’s salary?
Lazard reported a base salary of $900,000 for 2025. His total awarded compensation for that year was $15 million after including cash incentives and long-term incentive awards.
What is Peter Orszag’s net worth in 2026?
A reliably verified figure for his personal net worth is not established here. Corporate compensation disclosures do not reveal all personal assets, investments, and liabilities.
Who is Peter Orszag’s wife?
Peter Orszag is married to Bianna Golodryga, a journalist who works as a CNN senior global affairs analyst and correspondent.
When did Peter Orszag become CEO of Lazard?
He became CEO on October 1, 2023. His role expanded to include Chairman of the Board on January 1, 2025.
Conclusion
Peter Orszag’s biography illustrates a career built across economics, government service, and international finance. His education at Princeton University and the London School of Economics prepared him for analytical work, while his leadership of the Congressional Budget Office and the Office of Management and Budget gave him experience with major public-policy challenges.
After serving in government, he moved into the financial sector, working at Citigroup before joining Lazard in 2016. He became Lazard’s CEO in October 2023 and Chairman of the Board in January 2025.
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