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Mark Kelly of Vinson & Elkins.

Vinson & Elkins broke a four-year streak of rising revenue in 2020, though profits inched upward, as the Texas firm dealt with a slowdown in traditional energy work but a boost in restructuring, litigation and the now-trendy special purpose acquisition company work.

Mark Kelly, chair of Vinson & Elkins, said he is pleased with the firm’s performance in 2020, even as the firm’s high expectations were impacted by the economic downturn from the COVID-19 pandemic.

“It had its challenges and the like, but a number of areas remained really strong, and particular areas grew a lot with market conditions. We really emphasized this year that we want to operate the firm for the long term,” Kelly said.

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Brenda Sapino Jeffreys

Senior reporter Brenda Sapino Jeffreys covers the business of law in Texas. Contact her at [email protected] On Twitter: @BrendaSJeffreys

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