Simpson Thacher & Bartlett announced yesterday that corporate partner William Dougherty has been named chairman of the 837-lawyer firm’s executive committee, effective immediately. In taking over Simpson Thacher’s top management post, Dougherty, 51, succeeds corporate partner Philip "Pete" Ruegger III, 63, who has led the firm since 2004. Ruegger said 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. Gross revenues rose 2 percent in 2012, to $982.5 million, according to The American Lawyer. Revenue per lawyer remained stable at $1.18 million, while profits per equity partner inched up slightly to $2.67 million.
