Of all the U.S. firms in London, Simpson Thacher & Bartlett has arguably been the most successful at attracting the biggest name partners. It has certainly been the most selective. The firm has made just seven lateral partner hires since launching its London office in 1978, but almost all have been among the absolute leaders in their field. “Some U.S. firms will ask you to just go out and find a certain number of partners in certain practice areas,” says one recruiter who has worked with Simpson Thacher in London. “Simpson Thacher tell you to go out and get a specific person, and if you can’t get them, to just forget it.”
Simpson Thacher opened in London primarily to handle banking work for the firm’s largest clients, such as the Manufacturers Hanover Trust Company—one of the predecessor banks to J.P. Morgan Chase & Co.—which had crossed the Atlantic with the opening up of the Eurodollar lending market. (Eurodollars are U.S. dollar-denominated deposits held outside the United States and therefore not subject to U.S. banking regulations.)
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