Simpson Thacher Hires Wachtell Dealmaker in Strategic M&A Move

Simpson Thacher & Bartlett hired corporate lawyer Alison Preiss from Wachtell Lipton Rosen & Katz, marking a still-rare partner exit for the New York firm.

Preiss has worked with Match Group, Expedia, Home Depot, and Pfizer on some of their largest transactions. She leaves Wachtell after two decades and nearly 10 years as a partner at the firm.

Preiss is “tailor-made for what we’re looking for,” Eric Swedenburg, Simpson Thacher’s M&A leader, said in an interview. The hire is part of the firm’s plan to grow across its top practices, he said.

She leads M&A deals and advises corporate boards on legal matters across technology, healthcare, industrial and financial sectors. She guided Gibraltar Industries in November in its $1.3 billion acquisition of OmniMax International Inc.

Alison Preiss

Photo: Simpson Thacher

“Alison is a star. She’s dynamic, exceptionally commercial and known for delivering solutions that advance business objectives,” Alden Millard, chair of Simpson Thacher’s executive committee, said in a statement.

“We’re going to continue growing across some areas where we’re already strong, like strategic M&A, adding more depth,” he said.

Wachtell’s enormous profitability—profits per equity partner topped $9 million in 2024, according to The Amercian Lawyer—has largely protected it from poaching commonly seen at other law firms. Wachtell, which has about 270 lawyers and just 86 equity partners, is one of the last remaining “lockstep” firms that pays partners by seniority. Others have abandoned the model to better compete for talent in an era of brisk lateral hiring.

The firm’s historic invincibility to poaching has been challenged in recent years. Wachtell saw four partners head for the exit over the past year, including top dealmaker Zach Podolsky and capital markets lawyer John Sobolewski. The pair joined Latham & Watkins, where Sobolewski now leads the firm’s liability management team. Corporate partner Viktor Sapezhnikov in November jumped to DLA Piper, while longtime M&A partner David Shapiro left earlier last year to become a senior adviser at the Commerce Department.

Wall Street’s Cravath, Swaine & Moore, Wachtell’s close rival, has seen similar cracks. Four Cravath partners announced their departures from the firm in a two-week stretch to start the year.

Simpson Thacher’s lawyers last year worked on $403 billion worth of deals, placing fifth among Big Law’s top dealmakers. Wachtell secured the third spot on the Bloomberg Law league tables, steering $621 billion worth of deals.

The firm last year made more than 30 lateral partner additions, including Weil Gotshal & Manges M&A partner Iliana Karaoglan, Kirkland & Ellis dealmaker William Lay, and Cravath executive compensation partner Jana Hymowitz. It also picked up Barclays Plc managing director Christopher Ludwig last last year to lead its shareholder engagement and activism defense practice.

“We’re an attractive destination, and we want that to continue,” Swedenburg said.

Preiss’ move to Simpson was brokered by Sabina Lippman of global recruiting firm CenterPeak.