Akin Gump Strauss Hauer & Feld

Dallas

Firmwide Lawyer Head Count: 885

2018 Stats

Gross Revenue: $1,071,486,000 Up 3.1%

Net Income: $445,276,000 Down 4.1%

RPL: $1,211,000 Down 0.1%

PEP: $2,402,000 Up 0.7%

Notable in 2018

According to Chair Kim Koopersmith:

Investments: Firm built out two of its largest offices, Dallas and Washington, D.C., and made a “major push” in IT.

Across the Pond: The London office, which focuses on financial restructuring, financial transactions, competition and trade disputes, had a “truly spectacular year” with revenue up nearly 30%.

Public Service: Pro bono hours increased by nearly 15%, which helps define the firm's culture.

 

Baker Botts

Houston

Firmwide Lawyer Head Count: 708

2018 Stats

Gross Revenue: $678,200,000 Down 7.3%

Net Income: $315,942,000 Down 4.1%

RPL: $958,000 Down 6.2%

PEP: $1,662,000 Down 9.6%

Notable in 2018

According to former managing partner Andrew Baker:

The Big Hit: Revenue and profitability declined compared with 2017, when revenue was boosted by a significant contingency fee. Financial results in 2018 were also affected by large amount of uncollected receivables.

The Tech Factor: Lawyers in technology, media and telecom were very busy, as were the intellectual property and IP litigation practices.

More Owners: The firm is intentionally growing its equity partner ranks, adding 19 lateral partners and promoting 12 lawyers to partner, with 60 percent of new partners located outside Texas.

 

Bracewell

Houston

Firmwide Lawyer Head Count: 368

2018 Stats

Gross Revenue: $300,000,000 Up 7.6%

Net Income: $103,100,000 Up 14.5%

RPL: $816,000 Up 7.9%

PEP:$1,452,000 up 11.3%

Notable in 2018

According to managing partner Gregory Bopp:

Full Throttle: Super-charged practice groups included energy, infrastructure and finance, along with the technology, litigation and regulatory practices.

Build It: On the transactional side, the firm worked on more than a dozen midstream infrastructure projects in the Permian Basin. Other infrastructure work in North America boosted the renewables, project finance and project equity practices.

London Calling: The energy-focused office, which added 10 lateral hires in 2018, had outstanding year, with significant upstream transactions in Africa, Middle East and in the North Sea area.

 

Chamberlain, Hrdlicka, White, Williams & Aughtry

Houston

Firmwide Lawyer Head Count: 115

2018 Stats

Gross Revenue: $81,746,000 Up 6.7%

Net Income: $29,758,000 Up 7%

RPL: $713,000 up 8.9%

PEP: $875,000 up 7%

Notable in 2018

According to managing partner Wayne Risoli:

Busywork: All practices up significantly except for estate planning, which was flat.

Not a Windfall: None of the firm's revenue or profits was due to contingency fees, but was instead resulted from “blocking and tackling.”

Living Single: The firm intends to stay independent, despite the active merger market in Texas.

 

Gray Reed & McGraw

Houston

Firmwide Lawyer Head Count: 138

2018 Stats

Gross Revenue: $69,625,000 Up 6%

Net Income: $31,648,000 Up 19.4%

RPL: $505,000 Up 7.7%

PEP: $989,000 Up 4.4%

Notable in 2018

According to managing partner J. Cary Gray:

The Plan: Leadership completed new strategic plan, reaffirming its longtime mission to build a firm that survives partners' practice of law. Also, for efficiency, the firm reorganized its departments and practice groups.

Hot Areas: Commercial litigation was very strong, but M&A, asset acquisition and divestiture work were active as well, along with trusts and estates and probate litigation.

Bigger Roster: The firm had 28.7% more new clients in 2018, due in part to middle-market size which allows for efficiency.

 

Haynes and Boone

Dallas

Firmwide Lawyer Head Count: 537

2018 Stats

Gross Revenue: $408,200,000 Up 2.7%

Net Income: $131,500,000 Up 3.3%

RPL: $760,000 Up 4.1%

PEP: $1,002,000 Up 4.7%

Notable in 2018

According to managing partner Timothy Powers:

For the Books: The firm burst through financial barriers, with gross revenue over $400 million, PEP exceeding $1 million, and RPL shooting past the no-longer-elusive $750,000 level.

Practice Strength: Busy practices included corporate, M&A, energy, capital funds, finance and real estate, while litigation and appeals picked up in Texas and lawyers landed significant arbitration and litigation outcomes in London.

Rightsizing: Head count shrunk by 1.5 percent, but hiring focused on existing strengths in energy, financial services, technology and private equity, as well as targeted markets—Houston, London and New York.

 

Jackson Walker

Dallas

Firmwide Lawyer Head Count: 351

2018 Stats

Gross Revenue: $262,920,000 Up 5.4%

Net Income: $108,714,000  up 14.9%

RPL: $749,000 Up 7.9%

PEP: $1,100,000 Up 16.8%

Notable in 2018

According to managing partner Wade Cooper:

Paying Off: It was a record-breaking year, as profits per equity partner grew 16.8% and passed the $1 million mark.

Boom: Practices across the firm were busy, but real estate was particularly robust, aided by addition of five lateral partners.

Adding On: The number of new clients increased by an unusually high 20%, an indication of the robust Texas market and a result of lateral hiring, which included 14 partners.

 

Kane Russell Coleman Logan

Dallas

Firmwide Lawyer Head Count: 86

2018 Stats

Gross Revenue: $52,519,000 Up 5.3%

Net Income: $20,341,000 Up 13.8%

RPL: $611,000 Up 6.5%

PEP: $884,000 Up 3.9%

Notable in 2018

According to managing partner Joseph Coleman:

Both Sides: Transactional and litigation sides of the firm were both “blowing and going.”

Big Hires: Three significant lateral hires—corporate securities partner Arthur Nathan and immigration lawyer James Prappas in Houston, and trial lawyer Brian Hail in Dallas—paid off with increased business.

Trend Continues: 2018 was the sixth year in a row of growth in gross revenue, net income and profits per equity partner.

 

Kelly Hart & Hallman

Fort Worth

Firmwide Lawyer Head Count: 161

2018 Stats

Gross Revenue: $80,500,000 Up 0.9%

Net Income: $47,470,000 Up 1%

RPL: $500,000 Up 1%

PEP: $863,000 Down 2.7%

Notable in 2018

According to managing partner Marianne Auld:

On Target: 2018 was a “really great, solid year.”

Changing Times: While the firm's litigation and corporate practices were very busy in 2018, specific areas, such as environmental and water law, nonprofit representation and transportation law, grew especially well in 2018.

Market Position: The firm's position as a middle-market firm provides lawyers flexibility in billing rates, which clients appreciate.

 

Locke Lord

Dalllas

Firmwide Lawyer Head Count: 641

2018 Stats

Gross revenue: $512,573,000 Up 1.6%

Net Income: $175,454,000 Up 7%

RPL: $800,000 Up 5.4%

PEP:  $1,035,000 Up 10.6%

Notable in 2018

According to chairman David Taylor:

Bit by Bit: Many practice areas were “just a little bit better,” accumulating to make for positive financial performance, including a significant increase in profits per equity partner.

New Titles: Head count declined by 3.5 percent, due in part to some partners scaling back practices and changing their titles, as the firm has no mandatory retirement policy.

Important Initiative: Paulette Brown, former American Bar Association president, was named as firm's first-ever chief diversity and inclusion officer.

 

Munsch Hardt Kopf & Harr

Dallas

Firmwide Lawyer Head Count: 121

2018 Stats

Gross Revenue: $68,500,000 Up 2.9%

Net Income: $22,800,000 Up 1.3%

RPL: $566,000 Down 0.5%

PEP:  $671,000 Up 10.4%

Notable in 2018

According to chief executive officer Phil Appenzelller:

Looking to Future: The firm invested in active practice areas, such as intellectual property litigation and tax, while lateral hiring in Houston called for additional office space.

The Driver: Real estate work was a big factor in revenue growth, due in part to stepped-up development in Dallas, including projects in opportunity zones.

On the Menu: The firm launched restaurant practice group and focused on developing expertise in autonomous vehicle matters.

 

Patterson + Sheridan

Houston

Firmwide Lawyer Head Count: 75

2018 Stats

Gross Revenue: $46,000,000 Down 9.8%

Net Income: $13,681,000 Up 5.2%

RPL: $613,000 Down 17%

PEP:  $1,24,000 Up 24.4%

Notable in 2018

According to founding partner Todd Patterson:

The Tech Side: 2018 was solid year for work for semiconductor, telecommunications, networking and cloud-based tech clients, but the oil and gas practice was flat.

Lateral Benefit: Newly hired litigators John Barr Jr., and Jay Yates, who joined the firm in late summer, brought a lot of litigation work with them.

California Way: The San Diego office expanded and moved to new, permanent space.

 

Porter Hedges

Houston

Firmwide Lawyer Head Count: 100

2018 Stats

Gross Revenue: $83,800,000 Up 9.5%

Net Income: $34,457,000 Up 13.6%

RPL: $838,000 Up 12.3%

PEP: $1,013,000 Up 20.2%

Notable in 2018

According to managing partner Robert Reedy:

Soaring Profits: Revenue and net income grew significantly, even as head count changed little from 2017.

Bucking Trends: Bucking trends across the country, bankruptcy and litigation did very well during the year, while the transactional practice was also strong.

Continued Focus: The firm is looking to build on its strengths in corporate, energy, bankruptcy, litigation, finance, real estate and construction practices.

 

Susman Godfrey

Houston

Firmwide Lawyer Head Count: 136

2018 Stats

Gross Revenue: $262,000,000 Up 40.1%

Net Income: $168,000,000 Up 7.7%

RPL: $1,926,000 Up 25.6%

PEP: $2,585,000 up 7.7%

Notable in 2018

According to managing partner Neal Manne:

Good Results: It was an ”absolutely fantastic year” financially.

Sources of Revenue: The biggest source of fee income was the settlement of class action litigation against numerous banks, in which plaintiffs sued over alleged manipulation of LIBOR (London Intrabank Offering Rate).

Well-Known Clients: The litigation boutique's clients include the city of Houston, Chevron, General Electric and Walmart.

 

Thompson & Knight

Dallas

Firmwide Lawyer Head Count: 282

2018 Stats

Gross Revenue: $226,487,000 Up 6.8%

Net Income: $95,280,000 Up 2.7%

RPL: $802,000 Up 5.8%

PEP: $1,108,000 Up 15.9%

Notable in 2018

According to managing partner Mark Sloan:

A Wow Year: A robust year across practices, including energy, private equity and corporate, led to strong financials, with a huge jump in profits per equity partner.

Spreading it Around: Strong deal flow drove work into other areas, including tax, finance and oil and gas, while the real estate, intellectual property litigation and trial practices were also busy.

Goal-Setting: A new strategic plan calls for recruitment and retention of quality lawyers, marketing and business development, and a focus on profitability and providing value for clients. Houston and New York are top growth priorities.

 

Vinson & Elkins

Houston

Firmwide Lawyer Head Count: 622

2018 Stats

Gross Revenue: $747,248,000 Up 2.7%

Net Income: $315,202,000 Down 3.7%

RPL: $1,202,000 Up 1.6%

PEP: $2,517,000 Up 6.6%

Notable in 2018

According to chair Mark Kelly:

One for the Books: 2018 brought record results for the third straight year including modest gross revenue growth, while profits per equity partner moved past $2.5 million mark as the equity partnership shrank by 10.1%.

Not Public: Investments in lateral hiring in the private equity and alternative lending practices paid off, resulting in growth outside the solid base in energy sector, expanding to the infrastructure, transportation and logistics, technology, consulting services and real estate sectors.

Office Update: The London and Washington, D.C. offices relocated to new space, the Dallas office renovated, and moves in New York and Houston are in the works.

 

Winstead

Dallas

Firmwide Lawyer Head Count: 312

2018 Stats

Gross Revenue: $222,200,000 Up 2.5%

Net Income: $110,400,000 Down 0.1%

RPL: $712,000 Up 5.5%

PEP: $1,200,000 Up 7.4%

Notable in 2018

According to chairman and chief executive officer David Dawson:

The Upside: It was a productive year, led by real estate and real estate finance activity, but other key practice areas included finance and banking, corporate, litigation, oil and gas condemnation, and funds.

Book-Learning: The firm saw growth in the university and higher education space including work in several practices, such as intellectual property, real estate, finance, education, health care and sports law.

Positive Development: Four of the six associates and counsel promoted to shareholder were women.