William Derrough

William Quesada "Bill" Derrough (born January 24, 1965 in San Francisco)[1][2] is an American investment banker and Co-Head of the Recapitalization and Restructuring Group at Moelis & Company,[3][4][5][6] an investment banking firm founded in 2007. A member of the Democratic Party, he was elected to serve as Treasurer of the Democratic National Committee (DNC) on 25 February 2017.[2][7]

William "Bill" Derrough
Treasurer of the Democratic National Committee
Assumed office
February 25, 2017
Preceded byAndrew Tobias
Personal details
Born (1965-01-24) January 24, 1965
San Francisco, California
NationalityUnited States
Spouse(s)Alvaro Salas
Parents
  • Graciela Yllescas Derrough
  • Joseph Hoge Derrough
ResidenceNew York City
EducationUniversity of California, Berkeley
Occupation
  • Investment Banker
  • Treasurer of the DNC

Early life and education

Derrough was born in San Francisco, California. He is the son of Graciela Yllescas Derrough[1][8] and Joseph Hoge Derrough.[8] His mother moved to California from Guatemala in the 1950s and became a licensed home day care operator and later, a teacher’s aide in public schools[2] in Novato, California. Derrough’s father worked for 35 years as a union carpenter in Marin County, California.[2]

Derrough achieved the rank of Eagle Scout, scouting's highest attainable rank, in 1980 at the age of 15. He received a four-year Navy ROTC college scholarship and was a midshipman in the United States Navy Reserve from 1983 until 1986. He was prevented from receiving his officer's commission as a result of the U.S. Military's then ban on LGBT service members.

Derrough holds a Bachelor of Arts from the University of California, Berkeley.[2]

Career

Derrough began his investment banking career at Salomon Brothers as an analyst on the bond desk in 1989.[2]  In 1991 he joined Chanin & Company[9][10][2], a boutique specialty investment banking firm in Los Angeles, where he spent seven years advising financially distressed businesses. Derrough was a principal at Doyle & Boissiere[9], a private equity firm in San Francisco, from 1997-1998. In 1998, he joined Jefferies & Company to launch its Recapitalization & Restructuring business.[11][12][13][14]

Derrough and Thane W. Carlston joined Moelis & Company to start its Recapitalization & Restructuring business in July, 2008.[3][15] [16][17]Among other notable transactions, Derrough was the lead banker to the Official Creditors Committee of American Airlines during its bankruptcy from 2012-2014 and was instrumental in helping drive the re-organization which involved merger with US Airways.[4][2]

Other affiliations

Derrough has been active in charitable and educational non-profit activities and has helped raise funds for various Democratic candidates running for office.[18][19][20] He has served on the boards of Lambda Legal, Maitri, National Pastoral Life Center, Boy Scouts of Greater New York, Bennington College, Youth, Inc., Academy of St. Joseph, among others.

Personal life

In 2008, Derrough married Alvaro Salas in a civil ceremony at San Francisco City Hall; they have two children.[2]

References
  1. "California Birth Index, 1905-1995," database, FamilySearch(https://familysearch.org/ark:/61903/1:1:VGJM-G4X : 27 November 2014), William Q Derrough, 24 Jan 1965; citing San Francisco, California, United States, Department of Health Services, Vital Statistics Department, Sacramento.
  2. Biswas, Soma; Epstein, Reid J. (2017-05-26). "Restructuring Pro Prepares His Toughest Turnaround Yet: The Democratic Party". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-05-30.
  3. McCracken, Jeffrey (2008-04-10). "Key Jefferies Hands Jumping to Moelis". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-04-06.
  4. "The matchmakers behind the AMR-US Airways marriage". Reuters. 2017-02-15. Retrieved 2017-04-18.
  5. "Moelis Adds Broadpoint's Hootnick to Expand Restructuring Group". Bloomberg.com. Retrieved 2017-04-18.
  6. Garcia, Cardiff (2009-04-09). "Restructuring game becomes harder". Financial News.
  7. "Perez elected DNC chairman". POLITICO. Retrieved 2017-04-18.
  8. "Grace Y. Derrough's Obituary on Marin Independent Journal". Marin Independent Journal. Retrieved 2017-05-30.
  9. "William Q. Derrough: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2017-04-06.
  10. O'Brien, Robert (12 September 1994). "Restructuring market faces shakeout as business dries up; Investment banks may not be around for next rebound". Investment Dealers' Digest.
  11. Vrana, Debora (1998-08-04). "HEARD ON THE BEAT/Investment Banking Spotlight on L.A. Grows NationsBanc Montgomery Opens First Office in City; Jefferies to Expand Unit". Los Angeles Times.
  12. Scannell, Kara (2002-03-11). "XO Communications' Bondholders Reject Proposed Restructuring Plan". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-04-18.
  13. Wynn, Gerard (2004-02-25). "U.S. restructuring firm sees prospects in Europe". Reuters.
  14. Radler Cohen, Judith (1999-04-26). "Jefferies Flexes Restructuring Muscle". M&A reporter.
  15. "Debt Squeeze Points to Biggest Restructuring Wave Since Lehman". Bloomberg.com. Retrieved 2017-04-18.
  16. "Stuyvesant Town servicer may be sold". Reuters. 2017-03-16. Retrieved 2017-04-18.
  17. "Moelis execs say companies 'kicking the can'". Reuters. 2017-10-01. Retrieved 2017-04-18.
  18. "Obama's Top Fund-Raisers". Retrieved 2017-04-18.
  19. Keller, Bill (2013-02-17). "Catholicism Inc". The New York Times. ISSN 0362-4331. Retrieved 2017-04-18.
  20. "Moelis CEO Donated Thousands to Cantor Before Hiring Him". Roll Call. 2014-09-02. Retrieved 2017-04-18.
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