Bill Nelson, a partner and co-chair of Haynes and Boone’s capital markets and securities practice in Houston, is joining Shearman & Sterling’s recently opened Houston office, sources confirmed.
A spokesman for Haynes & Boone said the firm would have no comment. Nelson did not return requests for comment. A Shearman spokeswoman wasn’t available to respond and another didn’t immediately respond.
The 20-year Haynes and Boone veteran is joining Shearman in a few weeks, according to a source close to the situation. A second source said he’s expected to take associates with him but may be restricted for a period of time by the firm’s partnership agreement.
Nelson’s departure would leave a gaping hole in Haynes and Boone’s corporate practice in Houston. The attorney inherited Art Berner’s and Guy Young’s practices after they died in 2013 and 2015, respectively, and along with the work he gets from energy practice co-chair Buddy Clark, a “significant” amount of business could be leaving the firm, the second source said.
The firm’s Houston office has been losing key lawyers over the last year. Houston employment partner Felicity Fowler, who had been at the firm for more than 25 years, left in May to join McGinnis Lochridge and trial lawyer Yasser Madriz and his wife, employment litigator Meghaan Madriz, left in August for McGuireWoods.
Nelson handles public offerings, private placements, monetization transactions, cross-border securities offerings (including those involving Multijurisdictional Disclosure Systems), proxy contests, securities law compliance and corporate governance.
His clients have included KMG Chemicals (its acquisition by Cabot Microelectronics Corp. in August for $1.6 billion), Endeavor Energy Resources ($1 billion in notes offerings last year), Alta Mesa Holdings (its $3.8 billion merger with Silver Run Acquisition Corporation II and Kingfisher Midstream last year) and Callon Petroleum Co. ($688 million in notes and stock offerings in June and its $570 million purchase of oil and gas properties in the Permian from Cimarex Energy in May).
Nelson also represented Landry’s Inc. and Golden Nugget Inc. on a complex, multibillion-dollar transaction last year that was considered the largest dividend recapitalization in U.S. history. The proceeds were used by Landry’s billionaire owner Tilman Fertitta to purchase the Houston Rockets.
Shearman opened its Houston office in May after establishing an outpost in Austin in March. It’s thought to be considering a move into Dallas as well.