Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Simpson Thacher & Bartlett announced Thursday that corporate partner William Dougherty has been named chairman of the 837-lawyer New York–based firm’s executive committee, effective immediately. In taking over Simpson Thacher’s top management post, the 51-year-old Dougherty succeeds corporate partner Philip "Pete" Ruegger III, 63, who has led the firm since 2004. Ruegger told The Am Law Daily Thursday that he plans to retire from full-time practice later this year after 39 years and move into an of counsel role with the firm. Dougherty takes over as chair on the heels of a year that saw Simpson Thacher enjoy modest growth. The firm’s gross revenue rose 2 percent in 2012, to $982.5 million, according to The American Lawyer‘s reporting. Revenue per lawyer remained stable at $1.18 million, while profits per equity partner inched up slightly to $2.67 million. Last year, the firm’s revenue qualified it as the 20th highest-grossing firm on The Am Law 100—a distinction it shared with Morrison & Foerster. Both the incoming and outgoing chairs are Simpson Thacher lifers. Dougherty joined in 1986 after graduating from the University of Chicago Law School and was promoted to partner nine years later. A private equity and mergers and acquisitions specialist, he did stints in the firm’s Tokyo and London offices before returning to New York in 2002. Dougherty says his leadership role within the firm has "evolved" over time. Neither he nor Ruegger would discuss the mechanics of when and how Dougherty was chosen to become the new chair beyond saying the position is filled by—and from within—the firm’s 14-person executive committee. Ruegger added that he informed his fellow partners in 2010 that he planned to retire this year. Dougherty says he expects to continue practicing, though he will no doubt have to rely on his partners to carry some of the load. According to our previous reports, Dougherty worked on a Simpson Thacher team hired by the U.S. Treasury Department in 2008 to provide outside counsel on the Trouble Asset Relief Program; worked on a 2010 transaction that saw a pair of private equity firms sell the health care business MultiPlan Inc. to another private equity consortium; and advised commercial real estate giant CB Richard Ellis in its $940 million acquisition of the real estate investment management business of Dutch insurance and financial services giant ING Group.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2017 ALM Media Properties, LLC. All Rights Reserved.