In Memoriam

The partners of Simpson Thacher & Bartlett LLP deeply mourn the passing of their colleague, partner and friend, Richard (Dick) Beattie. In his six-decade career, Dick was not only a pivotal leader of Simpson Thacher and a trusted mentor to all who had the privilege to work with him, but also a legend within the bar and a trailblazer in the development of the private equity industry. Dick was widely known for his sense of civic duty, loyalty and dedication to helping others, and he will be profoundly missed. Dick joined the Firm in 1968 and remained with Simpson Thacher throughout nearly his entire career, serving as Senior Chairman until his passing.

From early on in his career, Dick was a pioneering dealmaker at heart, advising on the private equity industry’s inaugural leveraged buyouts and playing a critical role in the explosive growth of the industry throughout the 1980s and 1990s. His personable nature, tenacity and ability to develop deep and trusted relationships were what ultimately led him to get to know and work with founders of some of the most well-known private equity firms since their early beginnings. Throughout his extraordinary career, Dick participated in some of the largest, most important financial transactions of his generation—including KKR’s historic $25 billion acquisition of RJR Nabisco (the subject of the famed book “Barbarians at the Gate”), JPMorgan Chase’s $58 billion acquisition of Bank One, the merger of AOL and Time Warner, and the merger of WellPoint Health Networks with Anthem. Former New York City Mayor Koch said to The Wall Street Journal: “If you’re ever in a tight situation and you want to be sure there’s someone who’s absolutely loyal, courageous, intelligent, and willing to stand shoulder-to-shoulder with you and take the flak when it’s hurled at you, the guy to have in your corner is Dick Beattie.” Leading efforts to create new financial concepts and unique legal strategies to spearhead the development of the burgeoning private equity industry, his storied work in the space created significant opportunities for generations of Simpson Thacher attorneys to come, building the robust transactional practice for which the Firm is renowned today.

In addition to his celebrated legal practice, Dick was a role model in the truest sense of the word, and he exemplified those leadership qualities when he served as Chairman of Simpson Thacher’s Executive Committee from 1991 to 2004, and later in his role as Senior Chairman of the Firm. Dick also embodied, and helped to deepen, the Firm’s commitment to public service. He was widely known for his passion for civic duty. Prior to law school, Dick served for four years in the Marine Corps as an aircraft carrier pilot, where his history of service began. Following several years of success at Simpson Thacher, he became General Counsel of the Department of Health, Education and Welfare during the Carter Administration. During this time, he was instrumental in organizing and developing the then brand-new Department of Education. A staunch advocate for civil rights, he was also a key author of the landmark Title IX regulations. Following this role, he served as Director of the Transition and Counsel to the Secretary of Education during the Carter Administration and was a special advisor to the Secretary of State during the Clinton Administration, acting as the President’s Emissary for Cyprus.

Dick was later called on to serve on the New York City Board of Education, continuing his important work in support of the public education system. He was instrumental in Simpson Thacher’s leadership role in the Campaign for Fiscal Equity, a landmark litigation that ultimately won funding parity for New York’s underserved children and broadened the Firm’s commitment to pro bono work in education. He founded and was chairman of the nonprofit New Visions for Public Schools, a cause that was particularly close to his heart and one that is dedicated to improving public school education in New York City. As one of the city’s leading education-focused non-profits, New Visions has opened more than 140 public schools, created innovative programs and curricula for thousands of classrooms and partnered with leading businesses to broaden career opportunities. With a 91% on-time graduation rate, New Visions has become a model to other cities. Dick chaired and served on several other nonprofit boards, including Memorial Sloan Kettering, Carnegie Corporation and National Women’s Law Center, and corporate boards, including Evercore, Harley-Davidson and Heidrick & Struggles.

Dick always believed that, in order to be a good lawyer, you have to expand your horizons and use your talents in other areas of your life—a message that he often passed along to up-and-coming lawyers. In recognition of his dedication to service, Dick was honored by The American Lawyer with a “Lifetime Achievement” award for his “outstanding private sector success and a devotion to public service,” by The Legal Aid Society with its “Servant of Justice” award and by The Jewish Theological Seminary with its “Judge Simon H. Rifkind Award.” Dick also received countless accolades for his celebrated legal practice, with The American Lawyer in 2013 naming him as one of the “Top 50 Innovators” in the last 50 years for his role in developing the legal structures underpinning the private equity industry from its earliest days.

As we mourn the loss of our friend and colleague, we join Dick’s loving family in remembering his extraordinary career and life and the legacy of a commitment to excellence, loyalty and public service that he leaves behind.