Bruce Wasserstein

Bruce Wasserstein
Bruce Wasserstein
Born	Template:Birth date; Midwood, Brooklyn, New York, U.S.
Died	October 14, 2009 (aged 61); Manhattan, New York City, U.S.
Occupation(s)	Investment banker, entrepreneur, author
Known for	Mergers and acquisitions; founder of Wasserstein Perella & Co.; chairman and CEO of Lazard

Adapted from the English Wikipedia article Bruce Wasserstein, available under CC BY-SA 4.0Updated 11 August 2025

Bruce Jay Wasserstein (December 25, 1947 – October 14, 2009) was a prominent American investment banker, entrepreneur, and author. He played a pivotal role in the mergers and acquisitions arena, participating in nearly 1,000 transactions valued at approximately $250 billion.

Early life and education

Bruce was born in Midwood, Brooklyn, New York, to Lola (née Schleifer) and Morris Wasserstein, who belonged to a Jewish immigrant lineage; his father was the founder of a ribbon manufacturing business in New York City. His maternal grandfather, Simon Schleifer, was a Jewish educator who had immigrated to Paterson, New Jersey.

He had four siblings: Sandra Wasserstein Meyer (a businesswoman who passed away in 1998); Pulitzer Prize–winning playwright Wendy Wasserstein, whose daughter he was caring for at the time of his death; Abner Wasserstein (deceased 2011); and Georgette Levis (died 2014), married to psychiatrist Albert J. Levis.

Wasserstein's education included attendance at the Yeshiva of Flatbush and graduation from the McBurney School, followed by studies at the University of Michigan. He also earned degrees from both Harvard Business School and Harvard Law School, and spent one academic year at the University of Cambridge.

Career

Starting his professional journey as a lawyer at Cravath, Swaine & Moore, Wasserstein transitioned in 1977 to First Boston Corp., where he eventually rose to co-lead its premier merger and acquisition division. In 1988, alongside Joseph Perella, he left to found the boutique investment bank Wasserstein Perella & Co.. This firm was sold in 2000 amid the late 1990s market boom to Germany's Dresdner Bank for roughly $1.4 billion in stock. Following the integration of Dresdner’s UK branch Kleinwort Benson with Wasserstein Perella into Dresdner Kleinwort Wasserstein, he exited in 2002 to take charge of financial services company Lazard. He led Lazard’s 2005 initial public offering and became its inaugural chairman and CEO.

Wasserstein owned Wasserstein & Co., a private equity firm with varied investments, particularly within media. In 2004, he purchased New York Magazine, broadening his media portfolio. In July 2007, he divested American Lawyer Media to Incisive Media for approximately $630 million in cash. He is also recognized for originating the term "Pac-Man defense", describing a defensive tactic employed by firms targeted by hostile takeovers.

Philanthropy

In 2007, Wasserstein contributed $25 million to Harvard Law School, enabling the creation of a significant academic wing within the school's Northwest Corner complex, now known as Wasserstein Hall.

Net worth

By September 17, 2008, Forbes estimated his net worth at $2.3 billion.

His real estate assets as of 2008 included an apartment at 927 Fifth Avenue, New York City; properties in Santa Barbara, California; oceanfront real estate in East Hampton; a residence at 38 Belgrave Square, London; and an apartment located in Paris.

Personal life

Wasserstein was married four times and fathered seven biological children:

Laura Lynelle Killin (married 1968, divorced 1974).
Christine Parrott (divorced 1992), with whom he had three children: Ben, Pam, and Scoop. Christine later remarried journalist and publisher Dan Rattiner and works as a psychoanalyst.
Claude Becker (married 1996, divorced 2008), an Emmy Award-winning CBS news producer prior to their marriage; they had two sons named Jack and Dash. After Wasserstein’s passing, Claude took responsibility for Lucy, his niece.
Angela Chao (married from 2009 until his death), sister of Elaine Chao, spouse of U.S. Senator Mitch McConnell.

Additionally, he fathered a daughter named Sky with Erin McCarthy, a Columbia University administrator; she was born in 2008.

Politically liberal by orientation, Wasserstein engaged with media starting in high school—editing The McBurneian—and continued through college at the University of Michigan’s Michigan Daily, followed by an internship at Forbes magazine. Influenced by Ralph Nader’s activism, he briefly participated with "Nader's Raiders." Early in their careers, Rahm Emanuel and Vernon Jordan worked under Wasserstein. He also held a trusteeship at Columbia University Graduate School of Journalism from 2001 until his death.

Death

On October 11, 2009, Wasserstein was admitted to a hospital due to an irregular heartbeat. Although initial reports indicated he was stable and showing signs of recovery, he passed away three days later in Manhattan at the age of 61.

Books

Big Deal: Mergers and Acquisitions in the Digital Age (Warner Books, 2001)
Big Deal: The Battle for the Control of America's Leading Corporations (Warner Books, 1998)
Corporate Finance Law: A Guide for the Executive (McGraw-Hill, 1978)
With Justice for Some: An Indictment of the Law by Young Advocates (Beacon Press, 1970; co-written with Mark J. Green)

External links