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Firm Management tease

Pandemic Finances — From Fear to Confidence (Part 1)

In 2020, Texas Firms Dodge Worst Fears

Eleven months ago, law firm leaders looked into the abyss. Covid-19 had shuttered offices. Oil prices had plunged. Unprecedented disruptions loomed for corporate clients. The law firms feared drastic declines in revenues, wiped-out profits and painful layoffs.

The Texas Lawbook surveyed 26 law firms on what really happened during the pandemic. In the first of a three-part series, The Lawbook provides an advanced look at 2020 Texas law firm finances and operations. “All of us should be on bended knee, giving thanks,” said Jackson Walker’s Wade Cooper.

Susman Godfrey: Associate Bonuses Hit $170K Amid ‘Heartbreaking’ Year

The Houston-based litigation powerhouse Susman Godfrey announced Monday that it paid six-digit bonuses to its associates, promoted six lawyers to partner – including four women – and significantly increased the amount of money the firm is giving to charities that focus on racial justice. Despite the great financial year, 2020 was still ‘heartbreaking’ for the four-decade old firm.

Houston Bar Gives Thanks, Raises $878K for Pro Bono

Baker Botts partner Bill Kroger, Blank Rome partner Susan Bickley and Vinson & Elkins partner Chris Popov called colleagues and clients, law firm leaders and neighbors. Because the annual Harvest Celebration was cancelled due to the pandemic, hundreds of thousands of dollars in support for legal aid in Houston were in jeopardy. Kroger and other Houston Bar leaders took action. The results: A truly Happy Thanksgiving.

Norton Rose Fulbright: Gerry Pecht is Firm’s Next Global CEO

Norton Rose Fulbright announced late Sunday that the firm has elected a litigation partner in Houston to be its global chief executive starting Jan. 1. Gerry Pecht is the first U.S. lawyer to take the 3,500-lawyer firm’s highest ranking leadership position since Fulbright & Jaworski and Norton Rose combined in 2013.

Updated – Meet Haynes and Boone’s Next Managing Partner

Taylor Wilson has been groomed for three decades to lead at Haynes and Boone. He’s served on the firm’s board of directors and executive committee, chaired the partner compensation committee and led hiring and recruiting efforts. On Jan. 1, he gets a new title: managing partner.

1,160 Texas Law Firms Receive Pandemic Paycheck Protection

Updated to include lender details According to data released Monday by the U.S. Treasury Department, 1,160 Texas law firms applied for and received as much as $924 million total in ultimately forgivable loans from the Paycheck Protection Program. The Texas Lawbook has the entire list and it includes law firms from every corner of the state.

Texas Law Firm PPP Loans

The U.S. Treasury Department released this week the names of Texas businesses receiving loans under the Paycheck Protection Program voted by Congress in response to the COVID-19 pandemic. Among the

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