Paul Weiss had big plans to expand the Biglaw firm, looking to make their mark in the growing city of Houston. But, as reported by Bloomberg Law, that has not gone the way partner Scott Barshay hoped. The firm is looking to H-town for its private equity and oil and gas proximity — something that only really works with partners to populate the office.
And that’s where Paul Weiss has struck out.
Partners at firms including Kirkland & Ellis, Latham & Watkins, Sidley Austin and Baker Botts ended talks about joining the [Paul Weiss] office, five people familiar with the matter said. Some turned down guarantees of $10 million to $15 million for multiple years.
The partners were comfortable at their current firms, which have established presences in the Houston market, said three of the people, who requested anonymity to discuss the private talks.
But that doesn’t mean Paul Weiss is giving up! Remember the firm recently adopted a black box partner compensation system to lure lateral partners. So, yes, Houston is an increasingly popular location for Biglaw, with lots of firms looking to make their mark in the city, and Paul Weiss is committed to the idea of a Houston office, so it’s really only a matter of time.
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
