O’Melveny Opens in Austin
The Los Angeles-founded law firm, which reported $835 million in 2020 revenues, is breaking into the Texas market with four energy lawyers from Thompson & Knight.
Closely Watched Revenue Per Lawyer Up 6th Year in a Row in Texas
There's a new king of revenues per lawyer in Texas. For the first time ever, two law firms operating in Texas had RPLs of $1.8 million or more in 2020.
The Texas Lawbook 50 ranking of corporate law firms in Texas shows 21 firms achieved an RPL of $1 million or more last year, but only three of them have Texas roots. The Texas Lawbook has the exclusive data and the details.
Gibson Dunn Dallas Hands Reins to Two New Partners-in-Charge
Two partners will split the role of leading Gibson Dunn’s Dallas office. One is a female partner who has been described as an “absolute rockstar” and joined the firm’s partnership ranks just two-and-a-half years ago. The other is an experienced male trial lawyer whose name was on the door at a litigation boutique before joining Gibson Dunn as the pandemic began last year.
Overcoming Pandemic Fears, Firms Grew Texas Revenues
One year ago, corporate law firms in Texas feared financial disaster as they faced the Covid-19 shutdowns. Instead, three-fourths of The Texas Lawbook 50 largest law firms operating in Texas had higher revenues in 2020 than in 2019. Two-thirds posted record revenues, including several based in Texas. Six law firms grew their Texas revenues by 30% or more. The new data shows Texas businesses facing crises relied on their lawyers more in 2020 than ever before.
In a ‘Watershed Event,’ a New No. 1 in Texas Revenue
For the first time in decades Baker, Botts, Fulbright, Vinson and Elkins are not in the name of the top revenue generating corporate law firm in Texas. Vilified and envied for their aggressive recruiting practices and phenomenal growth, a non-Texas-based law firm increased revenues by 35% and headcount by 22% in 2020, conquering the top spot in The Texas Lawbook 50, our annual ranking of corporate law’s Texas revenues. How did they do it? It is all in the numbers. The Texas Lawbook has the in-depth report.
Houston Business Immigration Firm Expands to Dallas
The largest business immigration law firm in Texas is expanding into Dallas-Fort Worth. Houston-based Foster LLP announced Thursday that it has acquired Elise Healy + Associates, which also specializes in representing large and mid-sized companies in a host of immigration-related employment matters.
Pandemic Hampered Hiring in 2020, Texas Lawyer Headcount Flat
The top 50 corporate law firms operating in Texas added an average of one lawyer per firm in 2020. Firms now flush with business are worried about overworking their lawyers and are keen to hire new lawyers in 2021, but the talent just isn't available. Of course, even one new face is more than most industry insiders anticipated a year ago as the Covid-19 pandemic and sinking oil prices plunged the economy into recession. The Texas Lawbook has the data and an in-depth report.
Lateral Hiring Fell in 2020 – You Can Probably Guess Why
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.