Exhibit 12.1

LAZARD GROUP LLC

COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES (a)(b)



The following
table sets forth the ratio of earnings to fixed charges for Lazard Group LLC and its subsidiaries on a consolidated basis.



|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|---------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------ | ------- | --- | ----------------------- | ---- | -------- | --- | ---- | - | ------- | --- | ---- | - | ------- |  | - | ------- |  | - | ------- | ---
|                                                                                                                             |  | Three MonthsEndedMarch
31,2010 |         |     | Year Ended December 31, |     
|                                                                                                                             |  |                                | 2009    |     |                         | 2008 |          |     | 2007 |   | 2006    |     | 2005 |  
|                                                                                                                             |  |                                |         |     | (dollars in thousands)  |     
|Operating income (loss) from continuing operations                                                                           |  | $                              | (34,548 | )   |                         | $    | (181,988 | )   |      | $ | 42,029  |     |      | $ | 436,064 |  | $ | 333,676 |  | $ | 345,676 |    
|Add - Fixed charges                                                                                                          |  |                                | 31,441  |     |                         |      | 132,785  |     |      |   | 161,665 |     |      |   | 154,790 |  |   | 119,698 |  |   | 94,659  |    
|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|Operating income (loss) from continuing operations before fixed charges                                                      |  | $                              | (3,107  | )   |                         | $    | (49,203  | )   |      | $ | 203,694 |     |      | $ | 590,854 |  | $ | 453,374 |  | $ | 440,335 |    
|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|Fixed Charges:                                                                                                               |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|Interest (c)                                                                                                                 |  | $                              | 26,669  |     |                         | $    | 113,280  |     |      | $ | 141,413 |     |      | $ | 136,529 |  | $ | 104,348 |  | $ | 78,375  |    
|Other (d)                                                                                                                    |  |                                | 4,772   |     |                         |      | 19,505   |     |      |   | 20,252  |     |      |   | 18,261  |  |   | 15,350  |  |   | 16,284  |    
|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|Total fixed charges                                                                                                          |  | $                              | 31,441  |     |                         | $    | 132,785  |     |      | $ | 161,665 |     |      | $ | 154,790 |  | $ | 119,698 |  | $ | 94,659  |    
|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|Ratio of earnings to fixed charges                                                                                           |  |                                | -       | (f) |                         |      |         | (g) |      |   | 1.26    | (h) |      |   | 3.82    |  |   | 3.79    |  |   | 4.65    | (e)
|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|Deficiency in the coverage of operating income (loss) from continuing operations before fixed charges to total fixed
charges |  | $                              | 34,548  |     |                         | $    | 181,988  |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    
|                                                                                                                             |  |                                |         |     |                         |      |          |     |      |   |         |     |      |   |         |  |   |         |  |   |         |    

---

|(a) | Data presented relates to the Companys continuing operations.
|--- | --------------------------------------------------------------



|(b) | For purposes of computing the ratio of earnings to fixed charges:
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| |  |  | earnings for the three month period ended March 31, 2010 and for the years ended December 31, 2009, 2008, 2007, 2006 and 2005 represent income from
continuing operations before income taxes, and, for the period prior to May 10, 2005, the date of Lazard Ltds equity public offering, before distributions for services rendered by managing directors and employee members of LAM, and before
fixed charges, and
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| |  |  | fixed charges represent the interest expense from continuing operations and the portion of rental expense from continuing operations which represents
an appropriate interest factor.
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|(c) | The Companys policy is to include interest expense on unrecognized tax benefits in income tax expense. Accordingly, such interest expense is not included in the
computations of the ratio of earnings to fixed charges.
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|(d) | Other fixed charges consist of the interest factor in rentals.
|--- | --------------------------------------------------------------



|(e) | The results of operations for the period prior to Lazard Ltds equity public offering and the financing transactions on May 10, 2005 are not comparable to results
of operations for subsequent periods as described below:
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| |  |  | payment for services rendered by Lazard Groups managing directors, which, as a result of Lazard Group operating as a limited liability company,
historically had been accounted for as distributions from members capital, or in some cases as net income attributable to noncontrolling interests, rather than as compensation and benefits expense. As a result, Lazard Groups operating
income historically has not reflected payments for services rendered by its managing directors. For periods subsequent to the
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

| | consummation of the equity public offering, the consolidated financial statements of Lazard Group include all payments for services rendered by its managing directors in compensation and benefits
expense;
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the use of proceeds from the financing transactions; and
| | - |  | --------------------------------------------------------



| |  |  | the net incremental expense related to the financing transactions.
| | - |  | ------------------------------------------------------------------



|(f) | Operating income (loss) for the three month period ended March 31, 2010 is presented after giving effect to (i) a restructuring expense of $87,108 in the first quarter
of 2010 and (ii) a charge of $24,860 relating to the amendment of Lazards retirement policy with respect to RSU awards. Excluding the impact of such items, the ratio of earnings to fixed charges would have been 3.46.
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|(g) | Operating income (loss) for the year ended December 31, 2009 is presented after giving effect to (i) a restructuring expense of $62,550 in the first quarter of 2009,
(ii) the acceleration of amortization expense of $86,514 relating to the vesting of RSUs held by Lazards former Chairman and Chief Executive Officer as the result of his death in October 2009 and (iii) the acceleration of amortization expense
of $60,512 in the fourth quarter of 2009 relating to the accelerated vesting of the unamortized portion of previously awarded deferred cash incentive awards. Excluding the impact of such items, the ratio of earnings to fixed charges would have been
1.21.
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|(h) | Operating income for the year ended December 31, 2008 is presented after giving effect to a charge of $199,550 relating to the LAM Merger. Excluding the impact of such
charge, the ratio of earnings to fixed charges would have been 2.49.
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