Faculty Profile: Simon Lorne
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Simon M. (“Sy”) Lorne has served in a wide variety of positions in his career. Most recently, he is the Vice-Chairman and Chief Legal Officer of Millennium Management LLC, a New York-based global alternative asset management firm with approximately 5,000 and $60 billion in aggregate Assets Under Management. In the public sector, he was most notably General Counsel of the United States Securities and Exchange Commission, that agency’s principal legal position, with responsibilities that included advising the Commission on all matters that came before it. He served in that role from 1993 to 1996 under Chairman Arthur Levitt. In the academic sphere, he was from 1999 to 2016 co-director of Stanford Law School’s Directors’ College, the United States’ first, and possibly finest, institution for the education of directors of publicly held corporations. Prior to joining the University of Texas at Austin as an adjunct faculty member, he has served as an adjunct professor at the New York University Law School and the NYU Stern School of Business, as well as the University of Pennsylvania Law School and the University of Southern California Law School. He has also been a Visiting Scholar at the University of Oxford’s Said School of Business From 2016 to 2020 he was Chairman of the Alternative Investment Management Association (AIMA), the London-based voice of the alternative investment management industry.
Prior to joining Millennium Management, Mr. Lorne was a partner in the Los Angeles-based law firm of Munger, Tolles & Olson LLP (from 1972 to 1993 and again from 1999 to 2004); the global head of internal audit at Salomon Brothers (now a unit of Citigroup) (from 1996 to 1998); and the global head of Compliance at Citigroup (1998-1999). Besides his position at Millennium, he also serves on the Board of Directors and chairs the audit committee of Teledyne Technologies, Inc. (NYSE: TDY)
Throughout his career Mr. Lorne’s endeavors have involved the complementary fields of securities regulation and internal organizational controls—including, in the latter case, the roles of the legal, compliance and internal audit functions within organizations, and the supervisory role of boards of directors and their committees, primarily the audit committee. As a result of the breadth and depth of his background, both theoretical and practical, he is often asked to review and comment upon principles regarding corporate controls and the efficacy of different organizational control models.
Mr. Lorne has authored two books (“Acquisitions and Mergers: Negotiated and Contested Transactions,” and “A Director’s Handbook of Cases”), three practitioner-oriented monographs and a number of articles in law reviews, magazines and other publications. He is a frequent speaker at academic and industry symposia dealing with issues in the areas of securities regulation, ethics and internal controls.
Mr. Lorne is a graduate of Occidental College, with an A.B. in Economics (cum laude, Phi Beta Kappa), and the University of Michigan Law School (J.D., magna cum laude), where he was Articles and Book Review Editor of the Michigan Law Review.