Houston turns into a deal-lawyer dogfight, and firms race to staff up on dealmakers

Simpson Thacher pulled an energy and infrastructure deals partner out of Latham in Houston, and Latham also added a capital markets partner from A&O Shearman in the same city. Gibson Dunn brought on a health regulatory partner in Washington from Ropes and Gray, and Baker Donelson added a real estate shareholder in Nashville. Bloomberg's latest Leading Law Firms survey says firms are staffing up on dealmakers right now, with banking and finance the top practice they're targeting for growth.

At the same time, as top partner pay keeps climbing, plenty of partners are seeing their own numbers cut as firms funnel profits to the rainmakers.

And private equity keeps pushing into law firms, with another firm becoming the third to take outside investment from the same backer.