IN-DEPTH RESEARCH REPORT
on Vinson & Elkins LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Vinson & Elkins
- Designation: Houston
- Head Count: 677
- Gross Revenues: $592,000,000
- Revenue Per Lawyer: $875,000
- Profits Per Partner: $1,470,000
- Year Over Year Change: 6
The first Texas law firm to see average partner compensation pass $1 million (a feat accomplished in 2005), Vinson & Elkins is one of the countrys top firms for oil and gas work. It also boasts a firsttier litigation groupit picked up an honorable mention in The American Lawyers 2010 Litigation Department of the Year competitionand does substantial transactional work, ranking as the number one issuers counsel for U.S. IPOs (by volume) on our 2011 Corporate Scorecard, and the number one issuers counsel for equities (by volume). The firms M&A lawyers recently represented Continental Airlines, Inc., in its $3.2 billion merger with United Air Lines, Inc., and also counseled Southwest Airlines Co. in its $3.4 billion acquisition of AirTran Holdings, Inc.
Vinson was among the first firms to see significant postrecession recovery, with revenues rising more than 7 percent in 2010, and profits per partner increasing nearly 6 percent, to almost $1.4 million. The firms 15 offices dot the country (from New York and Washington, D.C., to Austin and Palo Alto) and the world (including Moscow, Beijing, Tokyo, and London), though it has a particularly strong presence in the energyrich Middle East, with outposts in Abu Dhabi, Dubai, and (since 2011) Riyadh. Recently Vinson has been making a push into clean energy, as well, working on hydrogen, solar, and other renewable energy projects.
While the firms Web site describes its history and expansion, one thing visitors are unlikely to find is a recounting of Vinsons role as legal adviser to Enron Corp., the Houstonbased energy company whose misdeeds, and downfall, triggered congressional investigations and reforms. In 2007 the firm agreed to pay $30 million to avoid litigation claiming that its actions had contributed to the companys collapse. Overall, however, Vinson fared far better than other businesses caught up in the Enron scandal, such as the late accounting firm Arthur Andersen.
Vinson has also fared well with its own lawyers, ranking eighteenth of 126 firms on The American Lawyers 2011 Midlevel Associates Survey. That, however, is the high point of the firms noneconomic metrics: Both diversity (ninetysixth of 194 firms in our 2011 scorecard, with minorities comprising just over 4 percent of U.S. partner ranks) and pro bono (125th of 200 firms on The American Lawyers 2011 Pro Bono Report) are still works in progress.
Updated as of 1/1/12
|Survey||Rank||Year Over Year Change||Description|
|Am Law 100||53||6||Gross revenue|
|Am Law 200||53||6||Gross revenue|
|NLJ 250||52||5||Lawyer head count|
|The A-List||NR||N/A||Overall excellence|
|Pro Bono Scorecard||125||9||Pro-bono commitment|
|Diversity Scorecard||105||9||Minority head count|
|Midlevel Associates Survey||18||6||Job satisfaction|
|Summer Associates Survey||NR||N/A||Summer programs|
In the News
Brenda Sapino Jeffreys : Texas Lawyer : May 13, 2013
Big bankruptcies earned five Texas law firms a spot on Texas Lawyer affiliate The American Lawyer's "Corporate Scorecard 2013," while energy work secured a place for six other large Texas law firms on rankings of the nation's top dealmakers in 2012.
Brian Baxter : The Am Law Daily : May 9, 2013
Real estate firm Hines has announced the sale of Manhattan office buildings at 425 Lexington Avenue and 499 Park Avenue to JPMorgan Asset Management and American Realty Advisors, respectively, for a combined total of more than $1 billion. Simpson Thacher & Bartlett's recent renewal of a lease for 595,000 square feet of space at 425 Lexington was a key factor in the sale of the office tower.
Diane Jeantet : The Am Law Daily : May 7, 2013
Edwards Wildman Palmer expands its newly launched Miami office; a Department of Justice lawyer joins Steptoe & Johnson in Washington, D.C.; and Chadbourne & Parke loses a project finance partner in New York. The Churn is constant. Please send all announcements to firstname.lastname@example.org.
Andrew Ramonas : Legal Times : May 6, 2013
The head of Brownstein Hyatt Farber Schreck's white-collar criminal defense and investigations group has jumped to Brown Rudnick in Washington, the lawyer's new firm announced Monday.
: Texas Lawyer : May 6, 2013
"Big Guns," "Double Entendres Abound" and "Six Texas Firms Top M&A"
Sara Randazzo : The Am Law Daily : May 6, 2013
Private equity-backed natural gas pipeline operator Crestwood Midstream Partners L.P. and energy services companies Inergy L.P. and Inergy Midstream L.P. announced Monday they plan to form a partnership to transport, process, and store gas and oil extracted from many of the country's largest shale formations.
: Texas Lawyer : April 29, 2013
Stats for each of the top 25 firms.
Jeanne Graham : Texas Lawyer : April 29, 2013
Rising client demands and a market offering abundant lateral hiring opportunities helped swell the number of lawyers at two Texas firms by more than 40 percent during 2012. Meanwhile, percentage drops at firms losing lawyers were much lower than they were two years ago in 2010.
Brenda Sapino Jeffreys, Texas Lawyer : The American Lawyer : April 25, 2013
Energy work helps drive a double-digit gain in profits per partner at Bracewell.
Tom Coster, Victor Li, Julie Triedman, Jan Wolfe : The American Lawyer : April 25, 2013
N.J. Carpenters Health Fund v. NovaStar Mortgage; Apotex v. Bristol-Myers Squibb; Ryan et al. v. JPMorgan Chase
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