The number of Texas law partners who moved their practice to a new firm during 2024 hit record highs and the trend seems to be continuing in 2025. And for a growing percentage of the lateral moves, this was their second or third jump in recent years. Texas Lawbook data shows that 20 percent more partners at business and litigation practices in Texas jumped to a competitor last year. Three law firms added 10 or more lateral partners in 2024. Twenty-two firms hired five or more lateral partners. Three law firms lost 10 or more partners to competitors in 2024. The Lawbook examines the data and the individual specific lateral moves for trends.
CDT Exclusive Data: 2024 Top M&A Dealmakers in Texas
There are some new leaders atop the 2024 M&A scoreboard. Most of the regulars are there, as well as some fresh faces, according to The Texas Lawbook’s exclusive Corporate Deal Tracker. The CDT has two separate rankings for Texas-led transactions — deal count and deal value. Lawyers on both lists had an extraordinary 2024.
Exclusive CDT Data — Kirkland, Gibson, V&E, Haynes Boone and Latham Top 2024 Texas-Led M&A Rankings
Mergers and acquisitions practices at nearly all law firms operating in Texas thrived in 2024. Eight law firms in Texas saw their M&A lawyers lead buyers, sellers and targets in 50 percent more M&A deals last year than they did in 2023, according to exclusive new data from The Texas Lawbook’s Corporate Deal Tracker. Nine other law firms witnessed a 10 percent or more increase in leading the principals in M&A activity in 2024, CDT data shows. But no law firm’s Texas deal lawyers were busier in 2024 than those at Kirkland & Ellis.
Update: Texas Lateral Partner Hiring Boomed in H1 2024
The lateral partner market in Texas hit a fevered pitch during the first six months of 2024 — especially in Houston and among litigation practices, according to exclusive Texas Lawbook data. Some big-name lawyers changed locations during H1 2024. Dozens of the lateral partner moves are the result of a few law firms opening new offices in Texas. Four law firms took their first plunge into the Texas legal market by hiring lateral partners. Lawbook database manager Christi Trammell and reporter Mark Curriden provide the inside numbers and Lotus Legal Search Founder Kate Cassidy offers the analysis.
Texas Lawbook 50 Report: Lateral Partner Moves Cooled in 2023
Some big names in Texas corporate law changed addresses in 2023. Sean Gorman, Mary-Olga Lovett, Rakhee Patel, David Sweeney, Greg Nelson and Paul Genender, to name a few. In all, 229 partners jumped to new firms — down 13 percent from 2022. Even so, Lotus Legal Search founder Kate Cassidy said the “Texas lateral market is strong compared to other markets.” The Texas Lawbook breaks down Texas lateral partner moves by law firm, practice area, metro and gender.
V&E, Baker Botts, Hunton AK, Latham Top 2023 CDT CapM Law Firm Rankings
The Texas lawyers at Vinson & Elkins, Baker Botts and Latham & Watkins were the lead legal advisors for the most issuers and underwriters in capital market transactions in 2023.
One Guess on Which Firm Led the Most Billion-Dollar M&A Deals in Texas in 2023
Texas lawyers for 29 law firms worked on 130 M&A deals in 2023 that had deal values of $1 billion or more. Twenty-two of those firms were the lead legal advisors for the buyers, sellers or targets, according to new data from The Texas Lawbook’s exclusive Corporate Deal Tracker. A handful of Texas lawyers — Sean Wheeler, Debbie Yee, Ryan Maierson and Steve Gill — led or co-led more billion-dollar-plus transactions than any other lawyers. In fact, the four deal lawyers — all partners in Houston —led more transactions than 25 of the 29 firms on the list. But it was Dallas lawyer Jeff Chapman who landed the biggest deal of 2023. The Lawbook has the details.
Law Firms Promote Twice as Many Men as Women in 2023-24 Partnership Class
The new partnership class of 2023-24 in Texas is big on litigation and trial lawyers, leans heavily toward Houston offices and is overwhelmingly male-dominated. Business law firms have voted 143 Texas lawyers into their partnerships during this partner promotion season — down slightly from the 146 the same firms boosted into their elite ranks a year ago, according to data collected by The Texas Lawbook. Fifty-two law firms have announced their new partnership classes during this cycle. Half of the 52 firms promoted more attorneys than they did last year, while 17 firms named fewer new partners and nine named exactly the same number as a year ago. The Lawbook has the details.
Updated — Texas Promotions to Partner Slower in 2023-24
Thirty-five law firms have announced their promotions to partner for the 2023-24 season — 15 promoted more than last year, 13 promoted fewer and seven exactly the same number. So far, the 35 firms have promoted 99 associates or of counsel to equity and non-equity partner — down from 113 a year ago.
UPDATE – CDT M&A Lead Law Firms: Kirkland, Latham, V&E, Sidley, Gibson Dunn (As of Oct. 31)
The Texas Lawbook’s exclusive Corporate Deal Tracker lists the law firms whose Texas lawyers were lead counsel in M&A transactions for the buyers, sellers and targets between Jan. 1 and Oct. 31 this year. Sixteen of them led 10 deals or more, six were lead counsel on 25 or more transactions, two firms led 50 or more deals and one firm’s Texas lawyers have been lead counsel on more than 100 M&A transactions during the first 10 months of 2023.