Lazard chief executive Peter Orszag has said that the regulatory environment is becoming more favourable to big deals, and that the upcoming US presidential election is unlikely to scupper growing M&A appetite.

Orszag, who served in the Obama administration before making the shift into investment banking, said that the US election — which has been thrown open by president Joe Biden stepping down on 22 July — will not stop a positive start to 2024 for dealmaking.