Curious about peoples’ opinions about the remaining Texas-based BigLaw firms – V&E, Baker Botts, Bracewell. What are current reputations? Think they can survive independently, or are they doomed to go the way of Andrews Kurth and Thompson Knight?

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I should add that I probably left a couple Texas firms off that list (e.g. Jackson Walker) – no offense intended, and open to adding those to the list.

V&E has lost people left and right this year without any ability to recruit replacements. Headcount was down to the tune of 7% by end of 2020 and will be much more down this year as they didn’t start trying to actively recruit until around May. Very curious to see their numbers for 2021 when those come out next year. I know of 4 M&A partners that have left them in Houston this year alone—including one that was extremely senior on the executive committee.

Baker Botts seems to be pretty well established and able to hold their own. They specialize in oil and gas but have made a pretty seamless transition to clean energy. Their NY group is also supported by a massive generational client.

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