DBJ: O’Melveny Signs New Dallas Office Lease
The firm's new lease at Harwood No. 14 will triple its Dallas office footprint.
DBJ: Ross Tower Snags Four Law Firm Leases
One law firm has found a home for its first Dallas office; another has doubled its footprint; and two others have relocated or plan to relocate within the city.
Unparalleled Growth, Revenues, Profits – The State of Corporate Law in Texas in 2021
The Texas Lawbook 50 ranking by firm revenues in Texas is out. The financial numbers are staggering. For corporate law firms operating in Texas, 2021 wasn't just a great year – it was almost certainly the best year ever. Thirty-eight of the 50 law firms achieved record revenues. Seventeen law firms grew Texas revenues by 20 percent or more. Six law firms grew Texas revenues by 40 percent or more.
No law firm had ever come close to generating $600 million in revenue from their Texas operations. In 2021, two surpassed that mark. One skipped right over it and went straight to $725 million. This Texas Lawbook exclusive shows, 2021 will go down in corporate legal history as one for the ages.
Law Firm Offices: A Destination, Not an Obligation
The Gensler Research Institute reports that while many industries are cutting back on their real estate footprints, law firms and other top performing companies continue to increase square footage. This article explores the ways firms are trying to create a "truly experiential" environment to attract and retain talent.
Pictured: Hunton Andrews Kurth's Houston office (courtesy of Gensler)
Three Middle-Market Law Firms, One Record-Setting Year in Texas Revenues
Three middle-market law firms achieved record revenues and profits in 2021. All three jumped above the $700,000 mark for revenue per lawyer. All three predict 2022 will be even better ― so all three are in expansion mode and looking to grow headcount. And none of the three sees any advantage in merging with an out-of-state law firm. Legal industry analysts say Munsch Hardt, Gray Reed and Munck Wilson sit in a strategic sweet spot.
KRCL: Four Lawyers, a Fax Machine and 30 years of Extraordinary Texas Success and Now Succession
Raymond Kane, Gordon Russell, Joe Coleman and Mike Logan started KRCL in 1992 to flee financial bad habits of their old firm. Thirty years later, the firm they built is entrenched in the Texas middle market of corporate law firms, ranking 46th statewide in revenues in the upcoming 2021 Texas Lawbook 50. But the four partners discovered much more than success. They and their firm used fiscal restraint and commitment to long-term client service to find peace and friendship. At the twilight of their careers, they still love the practice of law and each other.
Correction and Update – Texas Lawyer Hiring Hits Record Highs in 2021, But Firms Still Struggling to Hire More
Corporate law firms operating in Texas went on a hiring spree in 2021. The 50 largest firms representing businesses in Texas added more lawyers in 2021 than they did in any of the past 12 years. A handful of elite national practices grew headcount at a spectacular pace, but many regional law firms also swelled to record levels.
With business booming, The Texas Lawbook 50’s record-setting 2021 was built on five firms with truly big net gains in staff size, another nine with double-digit increases and just two firms with net losses of more than 10 lawyers. Despite all the growth, many corporate law firm leaders say they would have hired even more attorneys if there were lawyers available. Editor's note: The Texas Lawbook wrongly reported earlier that Bracewell's lawyer count declined by 11 in 2021. It declined by only two. The Lawbook regrets the error.
Meet Texas Lawyers Promoted to Partner for 2022 – Updated
Corporate law firms in Texas promoted more attorneys to partner this year than ever before. The Texas Lawbook looks at all 196 lawyers voted into the partnership by 55 law firms for 2022 and breaks down the numbers by law firm, practice group and the city where they office. The Lawbook has brief bios on all 189 newly minted partners.
More Texas Law Firms Address Russia Crisis — Updated
Three more corporate law firms in Texas – Akin Gump, Bracewell and Latham & Watkins – have announced they are ending their operations in Russia and will not represent Kremlin-controlled businesses. Several other law firms with large operations in Texas, including Baker Botts, Norton Rose Fulbright and Sidley, made similar announcements earlier this week.
Norton Rose Fulbright to Close Moscow Office
Norton Rose Fulbright announced Monday that the global law firm is “winding down” its operations in Russia “as quickly as we can.” Formerly known as Houston-based Fulbright & Jaworski, Norton Rose Fulbright said it is closing its Moscow office “in compliance with its professional obligations” and that the “wellbeing of our staff in the region is a priority.”