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Firm Management

‘Feeding Frenzy’ – Texas Corporate Law’s Great Game of Musical Chairs Hits New Heights

Corporate law firms operating in Texas went on a hiring spree in 2021, using six-digit signing bonuses, promises of faster promotions to partner and two hikes in base pay in a high-stakes race to build the staffs needed to meet rising client demand for legal work. The result was the largest – and most expensive – game of musical chairs ever witnessed among the biggest corporate firms in Texas.

Correction: The previous version of this article reported the wrong lawyer count numbers for Kirkland & Ellis. The firm actually grew from 290 Texas lawyers in 2020 to 371 last year. The Lawbook apologizes for this error.

Law Firm Offices: A Destination, Not an Obligation

The Gensler Research Institute reports that while many industries are cutting back on their real estate footprints, law firms and other top performing companies continue to increase square footage. This article explores the ways firms are trying to create a “truly experiential” environment to attract and retain talent.

Pictured: Hunton Andrews Kurth’s Houston office (courtesy of Gensler)

Three Middle-Market Law Firms, One Record-Setting Year in Texas Revenues

Three middle-market law firms achieved record revenues and profits in 2021. All three jumped above the $700,000 mark for revenue per lawyer. All three predict 2022 will be even better ― so all three are in expansion mode and looking to grow headcount. And none of the three sees any advantage in merging with an out-of-state law firm. Legal industry analysts say Munsch Hardt, Gray Reed and Munck Wilson sit in a strategic sweet spot.

KRCL: Four Lawyers, a Fax Machine and 30 years of Extraordinary Texas Success and Now Succession

Raymond Kane, Gordon Russell, Joe Coleman and Mike Logan started KRCL in 1992 to flee financial bad habits of their old firm. Thirty years later, the firm they built is entrenched in the Texas middle market of corporate law firms, ranking 46th statewide in revenues in the upcoming 2021 Texas Lawbook 50. But the four partners discovered much more than success. They and their firm used fiscal restraint and commitment to long-term client service to find peace and friendship. At the twilight of their careers, they still love the practice of law and each other.

Correction and Update – Texas Lawyer Hiring Hits Record Highs in 2021, But Firms Still Struggling to Hire More

Corporate law firms operating in Texas went on a hiring spree in 2021. The 50 largest firms representing businesses in Texas added more lawyers in 2021 than they did in any of the past 12 years. A handful of elite national practices grew headcount at a spectacular pace, but many regional law firms also swelled to record levels.

With business booming, The Texas Lawbook 50’s record-setting 2021 was built on five firms with truly big net gains in staff size, another nine with double-digit increases and just two firms with net losses of more than 10 lawyers. Despite all the growth, many corporate law firm leaders say they would have hired even more attorneys if there were lawyers available. Editor’s note: The Texas Lawbook wrongly reported earlier that Bracewell’s lawyer count declined by 11 in 2021. It declined by only two. The Lawbook regrets the error.

More Texas Law Firms Address Russia Crisis  — Updated

Three more corporate law firms in Texas – Akin Gump, Bracewell and Latham & Watkins – have announced they are ending their operations in Russia and will not represent Kremlin-controlled businesses. Several other law firms with large operations in Texas, including Baker Botts, Norton Rose Fulbright and Sidley, made similar announcements earlier this week.

Anne Johnson & Jeff Tillotson Join Forces

After 27 years at Haynes and Boone, prominent appellate lawyer Anne Johnson is joining forces with respected Dallas trial lawyer Jeff Tillotson. The move puts Johnson’s name on the door as well as another lawyer at the firm. The Texas Lawbook has the scoop.

MoFo Opens in Austin

San Francisco-founded Morrison & Foerster announced Monday that it is opening its first Texas office in Austin. Known in legal circles as MoFo, the corporate law firm announced that it has hired two intellectual property litigation partners – one from Pillsbury and one from DLA Piper – and a corporate M&A partner from Pillsbury, and that “further additions to the Austin office are anticipated in the weeks and months ahead.”

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