Wake Up Call: Baker Botts Hits Record PEP With Fewer Partners

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• Strong energy-transition work helped Houston-founded Baker Botts’s revenues climb 4% to $752.5 million in 2022, its second-best mark ever. The firm’s profits per equity partner jumped to a record $2.607 million for the year, up 28.3%, as equity partner headcount shrank by 29 to 105. Revenue per lawyer also hit a record, as the firm’s total lawyer headcount sank by 47 to 673, according to a report based on early data. (Texas Lawyer)
• Shearman & Sterling has in the last two decades gone from being a top 10 US law firm to a potential merger partner. It’s said to be looking for a tie-up to help it get back ground lost to its New York rivals. (American Lawyer)
• Life sciences attorneys are expecting a resurgence of business in 2023 fueled by alternative financing and mergers and acquisitions, according to a report. (The Recorder)
• A Columbia Law professor had to apologize after video of his “f..k you” response to a student’s request went viral on YouTube. (Above The Law)

Lawyers, Law Firms

• Florida’s first Black female federal judge, Marcia Cooke, died at age 68. She was appointed by former President George W. Bush in November 2003 and confirmed 96-0 by the US Senate. (NBC Miami) (Miami Herald)
• A Hong Kong-based Baker McKenzie team represented Cambium Grove Capital, an Asia-based asset management platform that invests in real estate, alternative credit, private equity and special situation opportunities, in connection with the acquisition of a portfolio of hotels in Japan. (BakerMcKenize)
• The market’s appetite for law firm initial public offerings in the UK has gone cold. (City A.M.)
• A federal appeals court reinstated a Family and Medical Leave Act lawsuit filed by a Michigan lawyer who was fired when she tried to get unpaid leave to take care of her two-year-old son, who was experiencing Covid-19-like symptoms. (Business Insurance)

Laterals, Moves, In-house

• White & Case snagged three litigators from Bracewell in Houston for its global commercial litigation practice and global energy industry group. Sean Gorman, Chris Dodson, and Andrew Zeve all join as partners. (WhiteCase.com)
• Duane Morris appointed San Francisco partner Meagen Leary to the firm’s eight-member executive committee. Leary, who has a national creditors’ rights, commercial real estate finance, and bankruptcy practice, will also continue as co-chair of the business reorganization and financial restructuring practice group. Joining Leary as co-chair of that group is Philadelphia partner Wendy M. Simkulak who succeeds Philadelphia partner James Holman. Holman will continue as a partner in the group. Duane Morris also named Amy J. Guss chair and David Kovsky vice chair of its private client services practice group. (DuaneMorris.com)
• Intellectual property law firm Banner Witcoff elected board member and partner Janice Mitrius to firm president, a role she has held previously. The firm also elected two new members to its board of directors and elevated nine attorneys to shareholder. (BannerWitcoff.com)
• Quarles & Brady named health-care litigator Mark Bina office managing partner for its Chicago office. He succeeds partner Eric Ledbetter, who will continue his immigration practice. (Quarles.com)

Promotions Effective Jan. 1

• Dykema Gossett promoted Chicago-based real estate practice group leader Bob Linton to director of the firm’s real estate and environmental department, taking over from Bloomfield Hills, Michigan-based Kyle Hauberg. Ann Arbor-based Dan Schairbaum takes over as real estate practice leader. Dykema also elected 10 attorneys to member. (Dykema)
• Dontzin Nagy & Fleissig promoted former Selendy Gay Elsberg commercial litigator Gregory Wolfe to partner. (Dontzin Nagy & Fleissig)