Bruce Wasserstein Dead at 61

2009-10-15 | 08:49

Wall Street deal maker sold Maybelline to L'Oréal.

Bruce Wasserstein, chairman of Lazard, died yesterday. He was 61. In 1988, he founded Wasserstein Perella Group Inc., with First Boston associate Joseph Perella. The firm’s deals included the purchase of Maybelline Co., from Schering-Plough Corp., for $300 million in 1990. After the firm reduced its stake in the company over time, Maybelline was acquired by L’Oréal in 1996 for $508 million.

In January 2001, Wasserstein Perella Group Inc. was sold to Dresdner Bank and became Dresdner Kleinwort Wasserstein. A year later, Wasserstein left to join Lazard, an investment group.