Texas firms have long recognized that they can't run with big boys like Skadden, Arps, Slate, Meagher & Flom unless they beef up their presence in New York. They have been shelling out for people and office space, and it's working. Branch offices in New York turned over a major chunk of their profits during the last fiscal year.
June 28, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Texas firms are bulking up in the Big Apple, and it’s paying off on the bottom line.
Of the $2.5 billion generated by the 25 highest-grossing firms in Texas, the top four firms raked in $1.1 billion alone. This represents an average increase of $30.6 million in revenue in fiscal 1998 (12.7 percent) among Houston’s Big Three � Fulbright & Jaworski, Vinson & Elkins and Baker & Botts � and Dallas’ Akin, Gump, Strauss, Hauer & Feld, much of it attributable to the firms’ burgeoning New York offices.
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