© 2014 The Texas Lawbook.
By Mark Curriden, JD
Senior Writer for The Texas Lawbook
(May 28) – Haynes and Boone, the largest corporate law firm based in Dallas, announced Wednesday that corporate finance partner Tim Powers will be the firm’s new managing partner at the end of this year.
Conner took the reins of the law firm in 2008, just as the recession was hitting. Despite the economic downturn, HayBoo has opened new offices in California, significantly expanded its presence in New York and Mexico City and added 70 more lawyers during the past five years.
Haynes and Boone has 533 lawyers – 378 of those are in Texas.
While Powers, who is 58 and a graduate of the SMU Dedman School of Law, says the firm is well positioned to grow in the future, he admits the stagnant environment for business legal services means that firms have to be more strategic.
“The legal market is only getting more competitive,” Powers told The Texas Lawbook Wednesday.
“We need to position ourselves to be more attractive to clients and talent, while retaining our firm’s unique culture,” he says. “Law firms walk a tightrope to bring it all together and be successful.”
Powers, who specializes in international banking and corporate finance, says HayBoo plans to aggressively grow in key business sectors, especially energy, technology and financial services.
“If we find energy opportunities in other areas, be it Colorado or Pennsylvania, we will certainly take a look at it,” he says. “Because we feel that there is a trend toward the use of English law, a market that is attractive to us is London,” Powers says. “Of course, there is no more competitive legal market in the world than London.”
Powers says that Haynes and Boone has an “open door policy” when it comes to merger offers from other law firms. He says HayBoo receives its share of inquiries from national law firms desiring a Texas presence and from international law firms wanting a foothold in the U.S. energy market.
“It would have to be an incredibly great opportunity for our law firm and our lawyers before it would be able to garner the 75 percent support of the partners,” he says.
Powers is a past chair of the State Bar of Texas International Law Section and is the president of the International Bar Association Foundation. His other professional activities have included chair of the World Affairs Council of Dallas/Fort Worth, membership in the Council on Foreign Relations, and chair and board member of the World Services Group.
Powers has represented major U.S. and foreign lenders as lead agents and arrangers in more than $50 billion of such subscription financings.
He serves as a member of the YMCA of Metropolitan Dallas Board of Directors, as Chair of Crossroads Community Services, the urban outreach of First United Methodist Church of Dallas, and as a board member of the Dallas Breakfast Group. He is a former trustee of First United Methodist Church of Dallas, and is past chair of the Town North Family YMCA.
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