Gross revenue at Vinson & Elkins of Houston improved by 7.3 percent in 2010 compared to 2009, and net income at the Houston-based firm rose by 3 percent. The firm’s gross revenue was $602.7 million in 2010, compared to $561.9 million in 2009, and net income was $269.4 million,, compared to $261.5 million last year. 2010 was “a pretty strong year all the way around,” says Joe Dilg, the firm’s Houston-based managing partner. Dilg says the firm was busy with mergers and acquisitions and transactional matters in the energy sector, including many shale projects on the domestic side. The firm also did a considerable amount of energy work in Asia, with much of it for Chinese national oil companies, he says. Also, Dilg notes, the firm’s intellectual property group was very busy in 2010. Average profits per partner were $1,347,000 in 2010, and average revenue per lawyer came in at $844,000. PPP and RPL are calculated using a full-year average FTE (full-time equivalent) of 714 lawyers and 200 equity partners. (The 2010 PPP and RPL can’t be compared to 2009 numbers reported in Texas Lawyer’s Annual Report on Firm Finance, because those were calculated using Aug. 31, 2009, lawyer counts.) “Everything seems to be working very well. The Texas economy is good,” Dilg says. V&E has Texas offices in Austin, Houston and Dallas, and offices in Abu Dhabi, Hong Kong, Palo Alto, Shanghai, Beijing, London, Tokyo, Moscow, Washington, D.C., Dubai and New York City.
-- Brenda Sapino Jeffreys