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Houston-based Vinson & Elkins became the first Texas corporate law firm to hike compensation for younger attorneys. Other firms are expected to follow. Senior associates will now make about a half-million-dollars this year. The Texas Lawbook has the details.
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.
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.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.
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.
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.
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.
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.
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