Seven corporate law firms operating in Texas witnessed extraordinary growth in 2024.
The Texas version of the Magnificent Seven far outpaced their competitors in increasing Texas headcount and revenue.
The seven firms — Kirkland & Ellis, Orrick, Paul Hastings, Pillsbury, Sheppard Mullin, Simpson Thacher and Willkie Farr — employed 860 Texas lawyers in 2024 — up 24 percent from 2023, according to The Texas Lawbook 50, which documents the annual Texas headcount and revenues of business law firms.
Lawbook 50 research shows that this gang of seven generated $1.8 billion in revenue from their Texas offices in 2024 — 43 percent more than they made a year earlier.
This version of the Mag Seven consists of three firms founded in California (Orrick, Paul Hastings and Sheppard Mullin), three headquartered in New York (Simpson Thacher, Willkie Farr and Pillsbury), and one in Chicago (Kirkland).
All seven firms achieved record-high revenues in 2024.
The most growth in headcount and revenue came from Paul Hastings, which opened a Houston office in 2012 but has aggressively expanded in Texas since fall 2023, when it had about two-dozen attorneys.
“We had a tremendous first year in our Texas expansion and strategic growth plan in Texas,” said Paul Genender, co-managing partner of the Texas operations for Paul Hastings, which grew from 33 lawyers to 88 in 2024. “We are not done growing in Texas, but we are well on our way to reaching our strategic goals.”
In 2024, Paul Hastings’ revenue in Texas jumped 184 percent — from $56.7 million in 2023 to $161 million last year.
The second fastest-growing firm in Texas in 2024 was Willkie Farr, which achieved $76 million in revenues in their Texas offices — up 103 percent from the year before.
The Texas operations of Sheppard Mullin increased its revenue by 48 percent — from $65 million in 2023 to $96 million last year.
Four corporate law firms grew revenue by 33 percent or more, including Orrick, Pillsbury and Kirkland. The Lawbook featured Kirkland and its extraordinary growth in an article Monday.
Simpson Thacher, which opened in Texas in 2011, had an explosive year in the state, increasing revenues to $139.5 million — a 33 percent year-over-year jump.
“We had a great year in 2024 — demand for our legal services has been very high, headcount was up 15 percent and profits per partner was up 30 percent,” said Breen Haire, who is co-managing partner of the firm’s Houston office.
Haire, who moved to Texas in 2004 to join Baker Botts and moved to Simpson Thacher in 2014, said the firm’s lawyers in Houston have focused on energy transition infrastructure and digital infrastructure, working for clients including private equity giants Blackstone and KKR.
“The start of 2025 has been gangbusters so far,” he said. “My move to Texas 21 years ago was one of the best moves of my life. Texas has been one of the most robust corporate practices in the country.”
Texas Lawbook 50 Articles Already Published
- Texas Firm Headcount Inched Up 1%
- Susman Godfrey Scores ‘Second Best Year Ever’
- Kirkland is Texas’ First Billion-Dollar Law Firm
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Upcoming Texas Lawbook 50 Articles
- The Top 50 Law Firms Ranked by Revenue Generated by Their Texas Lawyers. “The Firm’s Numbers are Just Eye-Popping.”
- Three Texas Legacy Firms Grow East, West and Overseas
- Annual Revenues of the Texas Legacy Firms — In and Outside of Texas
- Firms from Five Cities (Chicago, Dallas, Houston, Los Angeles and New York) Battle for Texas Lawbook 50 Revenue Supremacy.