Exclusive new data shows that the pandemic put a deep chill on the overheated Texas lateral market last year. Not only did firms stop recruiting, but lawyers stopped answering. But analysis shows it didn’t solve the long-term core problem: too much demand for too little talent in Texas. The result: $250,000 signing bonuses. The game of musical chairs is back.
Vinson & Elkins Taps New Leadership
The 104-year-old legacy Texas firm has selected a successor to Mark Kelly – along with three other new leaders.
Keith Fullenweider, the son of a lawyer and a teacher and a veteran of V&E’s M&A practice will begin his new role Jan. 1. He becomes the third Houston partner in a row tapped to lead the legendary firm.
The Greenberg Traurig RV Tour Stops in Texas
The two top leaders at Miami-based Greenberg traveled 2,140 miles this month in a rented RV to visit the firm’s offices in Florida, Georgia and Texas. They listened to Jerry Jeff Walker and stopped often at Buc-ees and Love’s. All to visit the family and keep Austin weird.
First Texan and First Latina to Take Global Law Firm Helm
For the first time in history, a Texan is set next year to become the top managing lawyer of a 2,000-attorney global law firm based outside of the Lone Star State.
And she’s a woman and Hispanic.
Dallas trial lawyer Yvette Ostolaza, a three-decade veteran of the Texas business law community, will become chair of Sidley Austin’s managing committee in 2022. The Texas Lawbook takes an in-depth look at Ostolaza’s path from a Cuban-immigrant neighborhood in Miami to almost deciding against going to college to leading a corporate law firm that made $2.4 billion in 2020.
Silicon Valley Firm Expands into Texas
The firm – which focuses on advising venture and growth technology and life sciences clients – has added a former Vinson & Elkins deal partner in Austin.
Kirkland Officially Opens in Austin
Seven years ago this month, Kirkland & Ellis opened its first Texas office in Houston with a handful of lawyers. Today, the world’s largest law firm by revenues now has 290 lawyers operating in Texas and that number is about to grow. In fact, Kirkland has more offices in Texas than any other state.
Munck Wilson Establishes Policy to Encourage Vaccinations
The new measure has been enthusiastically received, according to the firm’s human resources manager.
‘You should start a woman-owned law firm’
More than a dozen years ago, Kimberly Phillips, now GC of litigation at Shell Oil, told Dawn Estes she needed to create her own legal practice. Today, Estes Thorne & Carr is one of the largest women-owned corporate law firms in Texas. How did Estes build such a successful firm in a male-dominated legal world? The Texas Lawbook has the story.
“I don’t know when Dawn sleeps,” Golds Gym GC Shelby Angel said. “She’s extremely responsive and attentive to client needs.”
Thompson & Knight, Holland & Knight Seeking to Merge
Dallas-headquartered Thompson & Knight and Holland & Knight of Miami are in final negotiations to merge. If the combination is approved, the firm will boast more than 1,600 lawyers and annual revenues in excess of $1.25 billion.
“This proposed combination would expand significantly each firm’s presence in important geographic markets,” Thompson & Knight managing partner Mark Sloan said in a written statement to The Texas Lawbook.
The Texas Lawbook has learned the merger should be finalized this summer.
Baker Botts Joins Special Associate Bonus Bandwagon
Houston-based Baker Botts announced Friday morning that it is the latest in a string of corporate law firms to give associates a special bonus ranging from $12,000 to $64,000.