William Derrough

Bill Derrough
Born	(1965-01-24) January 24, 1965 San Francisco, California, U.S.
Occupation(s)	Investment banker, political fundraiser
Years active	1989–present
Known for	Co-Head of Capital Structure Advisory Group at Moelis & Company; Treasurer of the Democratic National Committee (2017–2020)

William Quesada "Bill" Derrough (born January 24, 1965) is an American investment banker currently serving as Co-Head of the Capital Structure Advisory Group, which encompasses Recapitalization and Restructuring, at Moelis & Company, a global investment bank listed on the NYSE and established in 2007. Affiliated with the Democratic Party, he held the position of Treasurer for the Democratic National Committee (DNC) from 2017 until 2020.

Early life and education

Born in San Francisco, California, Derrough is the son of Graciela Yllescas Derrough and Joseph Hoge Derrough. His mother immigrated from Guatemala during the 1950s and pursued a career in education in Novato, California. His father was a union carpenter for over three decades in Marin County and served as a U.S. Navy veteran, having operated on PT boats in the South Pacific during World War II.

Derrough attended public schools in Novato, earning the rank of Eagle Scout by age 15. He was awarded a four-year Navy ROTC scholarship and served as a Navy Reserve midshipman from 1983 to 1986, completing active duty assignments at naval bases including Pearl Harbor, Coronado, and San Diego. However, his commission as an officer was denied due to the military's policy at that time prohibiting LGBT service members. He graduated with a Bachelor of Arts degree in Soviet Studies from the University of California, Berkeley.

Career

Derrough launched his investment banking profession at Salomon Brothers as a corporate finance analyst in 1989. Two years later, he joined Chanin & Company, a Los Angeles-based boutique firm focused on financially troubled enterprises, where he remained for seven years. Between 1997 and 1998, he acted as a principal at Doyle & Boissiere, a private equity firm located in San Francisco. In 1998, he became part of Jefferies & Company, where he helped establish its Recapitalization & Restructuring division.

In July 2008, Derrough partnered with Thane W. Carlston to create the Recapitalization & Restructuring practice at Moelis & Company. Under their guidance, this group completed over 500 assignments with a combined transaction value exceeding $1 trillion and was recognized as Restructuring Firm of the Year by International Financing Review magazine in both 2014 and 2019. Presently, Derrough serves as Global Co-Head of Moelis’ Capital Structure Advisory division, providing strategic advice to major corporations and governments on complex liability management issues.

Throughout his professional journey, Derrough has counseled corporations, governmental bodies, labor unions, and nonprofit organizations on intricate matters such as debt and equity financing, restructuring initiatives, debt-to-equity exchanges, and mergers and acquisitions. Additionally, he has acted as an expert witness concerning valuation methodologies and financial instruments in federal and state court proceedings.

Among his significant roles, Derrough led the Official Creditors Committee during American Airlines’ bankruptcy process between 2012 and 2014, playing a key role in its reorganization and subsequent merger with US Airways. In April 2020, amid drastic revenue declines caused by the COVID-19 pandemic, he assumed leadership as the primary investment banker for The Hertz Corporation. His team facilitated capital raises exceeding $20 billion to preserve liquidity and fully satisfy creditor claims. Following its Chapter 11 exit, Hertz achieved reduced indebtedness, enhanced liquidity positions, and generated shareholder value surpassing $1 billion. From March 2020 through 2021, Moelis supported clients in securing more than $150 billion through debt and equity offerings.

Democratic National Committee

On February 25, 2017, Derrough was chosen as Treasurer of the Democratic National Committee (DNC), working alongside Chair Tom Perez to overhaul the organization's operations. His responsibilities encompassed updating the finance, audit, and accounting departments, strengthening relationships with lenders, and boosting financial transparency for the DNC’s 447 voting members.

During his tenure, the DNC enhanced its data infrastructure, technological capabilities, and state-level mobilization efforts to support Democratic candidates across multiple offices. These improvements played a significant role in securing victories in the 2017 gubernatorial and legislative elections in Virginia and New Jersey, the special Senate election in Alabama in December 2017, as well as the 2018 midterm elections when Democrats regained control of the U.S. House of Representatives.

In August 2020, the DNC officially nominated Joseph R. Biden, Jr. and Kamala D. Harris for President and Vice President, who subsequently won the November 2020 election with a historic number of votes. The DNC achieved a record fundraising haul of $493 million in 2020, surpassing its previous high of $372 million raised in 2016. By year-end, the committee held unprecedented cash reserves. Derrough earned recognition as a leading fundraiser for Biden’s campaign.

Derrough chose not to run for re-election in January 2021 and was succeeded by Virginia McGregor.

Other affiliations and recognitions

Derrough has actively contributed to numerous nonprofit organizations dedicated to education, supporting disadvantaged youth, civil rights advocacy, and Catholic charitable causes. He has also played a key role in fundraising efforts for various Democratic candidates. His board memberships have included Lambda Legal, Maitri, National Pastoral Life Center, Boy Scouts of Greater New York, Bennington College, Youth, Inc., and the Academy of St. Joseph.

In 2015, he was honored with the John C. Whitehead Good Scout Award from the Boy Scouts of Greater New York and later received the Distinguished Eagle Scout distinction from the National Eagle Scout Association in 2019. On September 21, 2021, Derrough was presented with the St. Francis Service Award by Catholic Renewal of Catholic Charities of New York—an accolade that acknowledges restructuring professionals exemplifying integrity, humility, and charity. Derrough co-founded Catholic Renewal in 2010 to mobilize fundraising within the corporate restructuring sector to support Catholic Charities’ mission assisting vulnerable New Yorkers. Since its inception, Catholic Renewal has generated over $10 million for Catholic Charities of New York.

From 2005 through 2010, Derrough served on the American Bankruptcy Institute’s Board of Directors and was inducted as a Fellow of the American College of Bankruptcy in 2007. He frequently speaks at conferences related to finance and law and has been part of the Federal Judicial Center’s faculty delivering financial literacy education since 1999.

Personal life

On September 15, 2008, Derrough and Alvaro G. Salas were united in marriage amid California's short-lived period of same-sex marriage legality. Their civil ceremony took place at San Francisco City Hall and was presided over by former Mayor Willie Brown. The couple currently lives in Brooklyn, New York, and are parents to two children.