Simpson Thacher & Bartlett

Last updated
Simpson Thacher & Bartlett LLP
Simpson Thacher & Bartlett logo.png
Headquarters425 Lexington Avenue
New York City
No. of offices11
No. of attorneys1,000+
Major practice areasGeneral practice: corporate, litigation and regulatory advice
Key peopleAlden Millard, Executive Committee Chairman [1]
RevenueIncrease2.svg US$2.15 billion (2022) [2]
Date founded1884;140 years ago (1884)
Founder
Company type Limited liability partnership
Website www.stblaw.com OOjs UI icon edit-ltr-progressive.svg

Simpson Thacher & Bartlett LLP [3] is a white-shoe law firm headquartered in New York City. The firm specializes in litigation and corporate practices, particularly mergers and acquisitions and private equity, with over 1,000 attorneys in 11 offices worldwide. [4]

Contents

History

John Simpson, Thomas Thacher and William Barnum organized the firm as "Simpson, Thacher & Barnum" on January 1, 1884, with offices at 9 Pine Street. [5] The three were formerly law clerks at the old-line firm Alexander & Green. The first associate salary was $10, and the first retainer fee was $50. [5] In 1889, the name was changed to Reed Simpson Thacher & Barnum when former U.S. House Speaker Thomas Brackett Reed joined the firm. Reed died in 1902, and the name was soon changed to Simpson Thacher Barnum & Bartlett. The final change came in 1904 when it was amended to its current name of Simpson Thacher & Bartlett.

From its original location at 9 Pine Street, the firm has operated at many offices throughout New York City until finally settling at its present location at 425 Lexington Avenue opposite Grand Central Terminal. The firm opened its Los Angeles office in 1996, Palo Alto in 1999 and in Washington, D.C. in 2005. Simpson Thacher began its international expansion in the late 70s, beginning with its London office in 1978. Since then, Simpson Thacher has expanded to Tokyo (1990), Hong Kong (1993), Beijing (2007), São Paulo (2009), and Brussels (2021). [6]

In 1974, Simpson Thacher named Conrad Harper, previously a noted civil rights attorney with the NAACP legal defense fund, to its partnership. Harper was only the second Black partner at a major New York City law firm. Simpson Thacher has since established its Conrad Harper 2L Diversity Fellowship for qualified applicants from underrepresented backgrounds. [7]

In 1988, Simpson Thacher, led by longtime chairman Richard Beattie, advised KKR's $25.1 billion acquisition of RJR Nabisco. [8] [9] It was, at the time, the largest-ever private-equity purchase in history, the details of which are memorialized in the book "Barbarians at the Gate." [9]

Since opening in 1999, [10] the Palo Alto office has experienced remarkable growth in both size and prominence. [11] The Palo Alto branch is now the firm's second largest office and has come to represent some of Silicon Valley's most distinguished tech titans and private equity firms, playing a hand in a string of record breaking transactions. [12]

In November 2023, amid a wave of antisemitic incidents at elite U.S. law schools, Simpson Thacher & Bartlett was among a group of major law firms who sent a letter to top law school deans warning them that an escalation in incidents targeting Jewish students would have corporate hiring consequences. The letter said "We look to you to ensure your students who hope to join our firms after graduation are prepared to be an active part of workplace communities that have zero tolerance policies for any form of discrimination or harassment, much less the kind that has been taking place on some law school campuses." [26]

Notable alumni

Simpson Thacher lawyers have included U.S. Senators, Solicitors General, a Speaker of the House of Representatives, a Secretary of State, a Secretary of the Army, Ambassadors, Judges on U.S. Circuit and District Courts and the New York State Court of Appeals, presidents of the American Bar Association, and presidents of the Association of the Bar of the City of New York.

Judiciary

Government

Business

Academia

Others

Associate compensation

In 2007, Simpson Thacher led the market [28] by raising the base salary for first-year associates to $160,000 per year. [29] In the process, it established the market salary for all of its peer firms in New York City. [30] Simpson Thacher again led the market in 2014 when it raised associate bonuses by as much as $40,000, [31] matched within hours by other New York elite firms Paul, Weiss, Rifkind, Wharton & Garrison and Cleary Gottlieb Steen & Hamilton. [32]

In 2016, law firm Cravath, Swaine & Moore beat the "Simpson salary scale" for the first time in nearly a decade with a 12.5% increase in associate base salary, a move that was promptly matched by Simpson Thacher and other large law firms. As of March 2, 2022, the base salary for first-year Simpson Thacher associates begins at $215,000. [33]

Rankings and awards

Simpson Thacher & Bartlett is consistently among the most profitable large law firms in the world on a per-partner basis according to The American Lawyer's annual AmLaw 100 Survey. The firm is also recognized in various other surveys, including Vault.com's 2010 review of the 20 Best Law Firms to Work For.

It is among the most profitable large law firms in the world on a per-partner basis according to the American Lawyer’s annual AmLaw 100 Survey. [40] Simpson Thacher had a gross revenue of approximately $2.15 billion in 2022 [41] with an estimated profits per partner of $5,319,000. [40]

The firm has represented the buyer in the five largest completed buyouts in history. [42]

The firm is also consistently deemed by a number of rankings and surveys as one of the most prestigious law firms in the nation, including AboveTheLaw, [43] Vault 100, [44] and Forbes. [45]

See also

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References

  1. Millard's firm bio
  2. "The 2023 Am Law 100: Ranked by Gross Revenue".
  3. "Our People".
  4. LLP, Simpson Thacher & Bartlett (2022). "About Us". Simpson Thacher & Bartlett. Retrieved 2021-09-09.
  5. 1 2 Firm Website, History
  6. "Our History". Simpson Thacher & Bartlett. 2022. Retrieved 2015-09-10.
  7. [stblaw.com/docs/default-source/related-link-pdfs/conrad-harper-2l-diversity-fellowship-flyer.pdf "Simpson Thacher - Conrad Harper 2L Diversity Fellowship"] (PDF). Simpson Thacher - Conrad Harper 2L Diversity Fellowship. Retrieved 2023-06-07.{{cite web}}: Check |url= value (help)
  8. Kolz, Amy (November 2006). "The American Lawyer" (PDF). Market Makers.
  9. 1 2 "The Blackstone-Simpson Thacher Connection". WSJ Blogs - Law Blog. 2007-03-16. Retrieved 2015-09-27.
  10. LLP, Simpson Thacher & Bartlett. "Our History". www.stblaw.com. Retrieved 2015-09-16.
  11. LLP, Simpson Thacher & Bartlett. "Palo Alto". www.stblaw.com. Retrieved 2015-09-16.
  12. LLP, Simpson Thacher & Bartlett. "Palo Alto". www.stblaw.com. Retrieved 2015-09-16.
  13. LLP, Simpson Thacher & Bartlett. "William H. Hinman". www.stblaw.com. Retrieved 2015-09-16.
  14. "Google IPO Central - Unofficial Site for Latest Investing and Stock Offering News". www.google-ipo.com. Retrieved 2015-09-16.
  15. LLP, Simpson Thacher & Bartlett. "Kirsten J. Jensen". www.stblaw.com. Retrieved 2015-09-16.
  16. Broady, Gavin. "Simpson Thacher May Be Haunted By $1.5B Loan Gaffe - Law360". www.law360.com. Retrieved 2019-02-14.
  17. "Simpson Thacher Palo Alto Office" (PDF).
  18. "Fenwick, Simpson Thacher Teams Help Launch Facebook IPO - Law360". www.law360.com. Retrieved 2015-09-16.
  19. LLP, Simpson Thacher & Bartlett. "William H. Hinman". www.stblaw.com. Retrieved 2015-09-16.
  20. LLP, Simpson Thacher & Bartlett. "Details". www.stblaw.com. Retrieved 2015-09-10.
  21. "Dealmakers of the Year: Leiming Chen and William Hinman of Simpson Thacher" . Retrieved 2015-09-10.
  22. LLP, Simpson Thacher & Bartlett. "Details". www.stblaw.com. Retrieved 2015-09-10.
  23. LLP, Simpson Thacher & Bartlett. "Details". www.stblaw.com. Retrieved 2015-09-10.
  24. Merced, Michael J. De La (2016-06-13). "Handful of Advisers Behind Microsoft's Deal for LinkedIn". The New York Times. ISSN   0362-4331 . Retrieved 2016-09-03.
  25. "Microsoft to acquire GitHub for $7.5 billion" . Retrieved 2018-06-04.
  26. Sorkin, Andrew Ross; Mattu, Ravi; Warner, Bernhard; Kessler, Sarah; Merced, Michael J. de la; Hirsch, Lauren; Livni, Ephrat (2 November 2023). "Law Firms Warn Universities About Antisemitism on Campus". New York Times . Retrieved 2 November 2023.
  27. "Thomas J. Curry to Step Down May 5, Keith A. Noreika to Serve as Acting Comptroller of the Currency" . Retrieved 2018-12-28.
  28. Chambers Firm Profile
  29. Anthony Lin, Simpson Hikes Pay; First Years Go to $160,000 , New York Law Journal, January 23, 2007
  30. Chambers-Associate Firm Profile
  31. Gorman, Nathalie (November 21, 2014). "Associates, Rejoice: Simpson Thacher Kicks Off Bonus Season Early". ALM, Law.com.
  32. Jones, Ashby (November 21, 2014). "Elite Law Firms Lift Year-End Bonuses". Wall Street Journal.
  33. Rubino, Kathryn (2022-03-02). "Top 20 Firm Shares The Love -- Money, That Is -- With Hardworking Associates". Above the Law. ISSN   0099-9660.
  34. "Vault.com|Best Law companies to work for|Vault Law 100". www.vault.com. Retrieved 2022-09-08.
  35. "Litigation Department of the Year, Finance: Simpson Thacher & Bartlett". New York Law Journal. Retrieved 2023-01-13.
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  37. "U.S. News - Best Lawyers". bestlawfirms.usnews.com. Retrieved 2016-02-19.
  38. "U.S. News - Best Lawyers". bestlawfirms.usnews.com. Retrieved 2016-02-19.
  39. "Simpson Thacher & Bartlett LLP honored by Department of Defense for patriotic support > Employer Support of the Guard and Reserve". www.esgr.mil. Retrieved 2016-02-09.
  40. 1 2 "The 2023 Am Law 100: Ranked by Profits Per Equity Partner". www.americanlawyer.com. Retrieved 2015-09-10.
  41. "The 2023 Am Law 100: Ranked by Gross Revenue" . Retrieved 2023-05-04.
  42. "Simpson Thatcher & Bartlett LLP". www.top-law-schools.com. Retrieved 2015-09-16.
  43. "The ATL Power 100 Law Firms (2015)". Above the Law. Retrieved 2016-02-19.
  44. "Vault.com|Best Law companies to work for|Vault Law 100". www.vault.com. Retrieved 2016-02-19.
  45. "Annual Ranking Highlights The Most Prestigious Law Firms In The U.S." Forbes . Retrieved 2016-02-19.