Simpson Thacher & Bartlett’s London office is set for a leadership shake-up as long-term managing partner Walter Looney prepares to return to New York.
Looney, who has headed the City office for almost 10 years, returns to the firm’s US headquarters at the end of March.
Partner Greg Conway, who also joined the London office from New York in 1997, will take over as London managing partner following a non-contested election.
Conway is understood to have been the obvious choice under Simpson Thacher’s hierarchical management system as he is the office’s most senior partner after Looney.
Looney’s departure follows a successful year for the office. London revenue is understood to have increased by around 10 per cent to reach an estimated $52m (£28.26m). However, Looney said this has been hampered by unfavourable US dollar exchange rates.
Looney added that, during his time leading the office, Simpson Thacher’s local presence has grown from 12 lawyers to around 50, while revenue was “seven times higher”.