There’s little doubt that law firms posted a great financial performance in 2025. But lingering concerns arguably gained some traction in Q4, as the industry saw a “slamming of the brakes” in M&A work, according to a new report.

Latham & Watkins launches a Dallas office with the hiring of two prominent litigators in Dallas — Winston & Strawn partner Scott Thomas and Kirkland & Ellis partner Taj Clayton.

Kirkland & Ellis enters the Nashville market.

Citi found that most firms in the top 25 group reported some level of demand growth, while only about half of the firms in the second group reported the same.

The highest-earning individuals are often at firms less wedded to a lockstep remuneration structure and can disproportionately reward one or two star partners, according to Law.com analysis of LLP filings.

Cahill Gordon & Reindel has hired two White & Case partners to serve as co-chairs of its digital infrastructure finance practice group. The London pair will also serve as chairs of the European leveraged finance and real estate finance practice groups.

Design IP, a Lehigh Valley-based IP boutique, is closing its doors as founder Damon Neagle and his team join Saxton & Stump to launch its new Allentown location. Saxton & Stump is adding three IP attorneys from Lehigh Valley-based Design IP.

Norton Rose added Sanya Sukduang and Jon Davies, who spent roughly six years at Cooley as patent litigators in Washington, D.C.

Houston-founded Baker Botts continues to benefit from the energy sector, with data center revenue in 2025 three times 2024 levels. The firm invested in 2025 in aggressive lateral hiring, technology, including AI, and office space. The firm is seeing efficiency benefits from using AI and has built a roster of clients in the AI space.

Dechert’s London office looks markedly different from how it did six years ago and has moved from being the 10th-largest U.S. firm in London by headcount to 25th, as the firm focuses on the U.S. market.