Corporate Lawyers Lateral = Billions of Dollars of Legal Work on the Move

When star Houston corporate lawyer Sean Wheeler moved his law practice to Kirkland & Ellis last week, he likely took his book of business with him. During the past 18 months, Wheeler led or co-led 29 M&A and capital markets deals worth a combined $14.3 billion. A Texas Lawbook investigative report found that at least 84 prominent dealmaking lawyers in Texas jumped to new law firms since Jan. 1, 2017. Those lawyers handled hundreds of deals valued at nearly $200 billion, according to the Corporate Deal Tracker. The Texas Lawbook has exclusive details.

July 19, 2018 Claire Poole

More Texas Law Firms Match Associate Compensation Increases

The number of large corporate Texas law firms increasing compensation for their associates continues to grow. The new pay scale for associates is likely to cost law firms anywhere from $500,000 annually for mid-sized boutiques to $5 million for the large full-service law firms.

July 17, 2018 Mark Curriden

Texas Lawbook Exclusive: Winstead – Troutman Sanders Merger Talks Off

Atlanta-based Troutman Sanders definitely wants to expand into Texas and Dallas-based Winstead clearly wants to partner with an out-of-state law firm, but merger discussions between the two corporate law firms are off. The Texas Lawbook has details.

July 17, 2018 Mark Curriden

LMA Panel: Legal Marketers Can Contribute to Firm Diversity Efforts

What role, if any, do legal marketers play in turning a discussion on the business case for diversity into action or starting the conversation at all? How do various departments work together to respond to their clients requests in this area? Why does this matter to clients? Terra Davis, regional marketing development coordinator at Holland & Knight, addresses these questions in this article.

July 3, 2018 Mark Curriden

Meet the Locke Lord Employee Who Inspired an Award-Winning HBA Initiative

Cindy Johnston is one of the most beloved employees in Locke Lord's Dallas office. She also helped shape former Houston Bar Association President Alistair Dawson's vision for Project TRAIN, a program that is being recognized this week at the State Bar Annual Meeting in Houston with a Star of Achievement Award.

June 20, 2018 Mark Curriden

Five Feared Words in Dallas Corporate Law: Kirkland is Coming to Town

The North Texas corporate legal industry has experienced monumental structural changes during the past year, but the business law community is suddenly facing the possibility of a major disruption that could change how business M&A law is practiced in Dallas for the next generation.

June 19, 2018 Mark Curriden

T&K, AZA Latest TX Firms to Raise Associate Comp

(June 19) – Houston-based corporate law firm Vinson & Elkins announced late Monday afternoon that it has raised the amount it is paying its first-year associates to $195,000. V&E, which is one of the largest and most profitable law firms in Texas, informed its associates it is matching the compensation increases that national law firms operating in Dallas and Houston implemented last week. Legal industry analysts predict that other Texas law firms, including Houston-based Baker Botts, are likely to do the same later this week. In a memo to its associates, which are younger lawyers yet to become partners, V&E Chairman Mark Kelly and Managing Partner Scott Wulfe said that the firm is increasing the base salary of its newbie lawyers from $180,000 to $190,000. In addition, the firm is providing first year associates $5,000 bonuses. The memo, obtained by The Texas Lawbook, shows that paychecks for associates in their eighth year – the year before the lawyers are up for partnership – will jump to $340,000. Those associates also will receive incentive bonuses starting at $25,000. The pressure on Texas law firms to boost compensation to younger lawyers intensified late last week when several national law firms with large presences in Dallas and Houston – Jones Day, Kirkland & Ellis, Sidley Austin, Simpson Thatcher, Winston & Strawn and Weil, Gotshal & Manges – announced that they were increasing the amount they paid associates. The Texas Lawbook has complete details.

June 18, 2018 Mark Curriden

Updated: Pressure Increases on Texas Law Firms to Raise Pay for Associates

A handful of Texas-based corporate law firms are expected to decide this week whether they will increase compensation for first-year associates to $195,000 a year. The pressure to boost pay to younger lawyers intensified late last week when two national law firms with large presences in Texas – Kirkland & Ellis and Sidley Austin – announced raises. The Texas Lawbook has exclusive insider details.

June 18, 2018 Mark Curriden

Texas Law Firms Debate Big Raises for Young Associates

Hundreds of young lawyers working at large corporate law firms in Texas are monitoring industry insider blogs and texting their friends at cross-town rivals in hopes of learning if their pay is about to go way up. They may be waiting a bit longer than they expected. The Texas Lawbook provides an analysis into whether Texas law firms will or will not follow Milbank Tweed's move to increase associate compensation.

June 12, 2018 Mark Curriden

Large Texas Corporate Law Firm in Merger Talks with Troutman Sanders

Two large, corporate southern law firms – Dallas-based Winstead and Atlanta-based Troutman Sanders – are involved in merger discussions, The Texas Lawbook has learned.

June 4, 2018 Mark Curriden