Simon M. Lorne is the Vice-Chairman and Chief Legal Officer of Millennium Management LLC, a New York–based global alternative asset management firm with over 2100 employees responsible for over $34 billion (as of January 2017) in Assets Under Management. He has served in a wide variety of public sector, academic and private sector positions during the course of his career. 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 independent
directors of publicly held corporations; has served as an adjunct professor at the New York University Law School and the NYU Stern School of Business, and is a Visiting Scholar at the University of Oxford’s Said School of Business. He has previously held positions on the faculties at the University of Pennsylvania Law School and the University of Southern California Law School. He is also Chairman (since 2016) of the Alternative Investment Management Association (AIMA), one of the two leading industry associations of the hedge fund industry.
Prior to joining Millennium, 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 serving as Chairman of the Alternative Investment Management Association, he also serves on the Board of Directors and chairs the audit committee of Teledyne Technologies, Inc., and in 2015 was selected for inclusion in the “Directorship 100” of the National Association of Corporate Directors. He is a member of the Advisory Counsel of the Public Company Accounting Oversight Board and also sits on the boards of a number of other non-profit organizations.
Throughout his professional 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. He has studied and evaluated those activities from a regulatory and an academic perspective, as well as from an advisory perspective in his practice as a lawyer in the private sector. He has also personally overseen the execution of those functions, having served as a corporate head of compliance, a corporate head of internal audit, a chief legal officer and on the audit committees of publicly held corporations. 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. (cum laude, Phi Beta Kappa), and the University of Michigan Law School (J.D., magna cum laude).