Texas Lawyer examined partner promotions at 18 of the law firms with the most lawyers in Texas and concluded that increasing numbers for 2018 reflect a solid Texas market and clear improvement over 2017.
The report said that 18 of the 25 firms with the most lawyers in Texas promoted 85 lawyers to partner, compared with 68 new partners last year for the same group of firms. (The latest data were not available for the other seven firms.) Because the study showed that Haynes and Boone, LLP was tied for most 2018 promotions, with nine new Texas partners this year, Texas Lawyer asked Managing Partner Tim Powers to reflect on what’s happening in the market and at the firm.
Texas Lawyer reported that Powers said demand is growing in areas where the new partners practice, such as finance, real estate, real estate funds and intellectual property litigation and prosecution. But he said the numbers are high because a strong group of associates were up for partner this year.
“They are just exceptional lawyers and we are excited to have them as our partners,” Powers said.
He said selecting so many new partners tells the legal community Haynes and Boone is growing and it is a firm with partnership opportunities. At the same time, he said, it shows clients that the firm is stable by promoting nine Texas lawyers who have spent many years at the firm. It’s also a foundation for succession planning, to keep lawyers moving through the pipeline, he said. ...
Excerpted from Texas Lawyer. To read the full article, click here. (Subscription required)