Ed Burbach, a former top deputy in the Texas attorney general’s office, has assumed a national leadership role in the firm’s government practice groups. He is determined to grow the practices, saying that clients are thinking about state and federal regulatory issues and their lawyers should be, too. Burbach represents clients targeted by state attorneys general and the Federal Trade Commission. He also has managed the Austin office since the December death of longtime leader Kim Yelkin.
Experts: Affirmative Action Ruling Puts Weight on Firms to Foster Legal Field’s Diversity
While diversity, equity and inclusion efforts will likely continue to face headwinds, experts say the legal profession can take specific steps to mitigate the potential impact of the Supreme Court’s recent decision that banned affirmative action in higher education. Natalie Posgate sought insights from corporate in-house lawyers, law firm leaders and affirmative action experts on what the impact may be and what the reaction should be going forward. As one lawyer put it: “It’s up to us to take a stand and make a difference.”
Updated — Baker Botts’ Next MP: ‘Merger May Be in Our Future’ But Priority Is Strategic Growth in Texas and Beyond
For the first time in more than four decades, Baker Botts has elected a litigation partner to lead the 600-attorney, Houston-headquartered corporate law firm. The firm’s partners have chosen corporate securities litigation partner Danny David to replace John Martin, who has been managing partner since 2019 but faces mandatory retirement later this year. In a Friday morning interview, David told The Texas Lawbook that his top priority is to “grow smart to the strengths of our leading practices.”
Three Law Firms, Extraordinary Growth — The LA Connection
Three of the five fastest growing law firms in Texas today were founded or headquartered in Los Angeles. Gibson Dunn, Latham and O’Melveny added many times more lawyers and revenues in 2022 than the average corporate law firm operating in Texas, according to The Texas Lawbook 50. The three firms with California roots employed 368 lawyers who generated $595 million in their Texas offices in 2022 — up from 140 Texas attorneys in 2016 who brought in $179 million in business.
This is the story of three global corporate law firms and their extraordinary growth in Texas, as well as their strategies for the next two years. Spoiler alert: All three have deep pockets and big plans for Austin, Houston and Dallas.
Meaningful Change Requires Personal Investment
As female attorneys who have worked in-house and in various firm environments, we have seen firsthand the challenges that women and marginalized communities face in the legal profession.
While there has been progress in recent years, there are still far too few female partners and other underrepresented leaders in the field, such that we can’t rely on structural and institutional change alone. More progress cannot occur without lawyers across the spectrum investing in the next generation of lawyers from underrepresented communities.
Another Record for Texas Revenues in 2022
The top 50 firms in Texas corporate law continued to thrive in 2022, generating more than $8 billion for the first time. The Texas Lawbook 50 raked in a record $8.6 billion in 2022 — 7.6 percent more than the prior year.
Thirty-eight of the Lawbook 50 firms scored higher revenues in their Texas offices last year than in 2021. Thirty-five of them achieved record revenues in 2022. Texas corporate law roared to new heights because of strong demand across the board, with work generated by headline events like the Winter Storm Uri litigation, the enactment of the Inflation Reduction Act, which spurred a considerable amount of transactional work in the energy industry and a steady flow of M&A activity, including a handful of mega-transactions. The Texas Lawbook has the exclusive data and analysis.
How to Thrive as a Summer Associate
Whether you are embarking on a summer associate position at a firm, a summer clerkship at the courthouse or an internship at a legal aid clinic, there are three universal truths that can make or break the summer.
In Texas, Firms Add Corporate Lawyers at Near-Record Pace
The 50 largest corporate law firms operating in Texas continued to add new lawyers at a near-record pace in 2022, according to the new Texas Lawbook 50 headcount rankings. The top 50 firms now employ nearly 8,000 lawyers in their Texas offices. The only year when the 50 law firms added more attorneys was 2021. More than two-thirds of law firms grew their lawyer headcount in 2022. The out-of-state firms expanded the most, especially firms founded in California. Three perennial top Lawbook 50 firms dropped off the list, replaced by firms growing faster. There are now only 20 Texas-based firms in the top 50.
The Big Three in Texas: Different Journeys, Different Results, Still Big
For half of a century, the Big Three dominated Big Law in Texas like GM, Ford and Chrysler ruled Detroit. Every Texas law school graduate wanted to work at Baker Botts, Fulbright & Jaworski or Vinson & Elkins. Rookie lawyers hired by the Big Three retired there. Two-dozen years ago, the Big Three had roughly the same number of lawyers and nearly identical revenues in their home state. Each faced monumental headwinds and threats to their very existence.
The Big Three survived, though they look a lot differently today than they did in 1998. Baker Botts, Norton Rose Fulbright and V&E remain among the Texas Lawbook 50’s top five largest law firms, though the gap between them in revenues and profits is widening.
Susman Godfrey Turns 40, ‘Far and Away Our Best Year Ever’
When trial lawyer Steve Susman died unexpectedly in 2020, legal industry insiders wondered what would become of the firm he founded four decades ago. The verdict is in.
“We had a record year in revenues and profits in 2022,” Susman Godfrey co-managing partner Vineet Bhatia told The Texas Lawbook in an exclusive interview. “2022 was far and away our best year ever.”
Susman Godfrey does not release annual law firm financials. An analysis by The Texas Lawbook shows, however, that the firm has nearly 200 lawyers – 105 of them in Texas – and ranks in the top five in RPL and PEP. The Lawbook has the exclusive details.