Locke Lord Chair David Taylor provided insight to the Houston Business Journal on law firm trends for 2020. Taylor noted he expects to see new out-of-town law firms enter the Houston market, increasing the competition for hiring skilled attorneys. Emphasizing the importance of investing in leadership training for younger lawyers, Taylor commented, “Those people who have developed strong leadership capabilities can take on leadership responsibilities within the firm — whether it’s department leaders, regional leaders, executive committee, board of directors leadership, whatever it may be. But I think it’s incumbent upon us as firms to make sure that we are working to develop those attorneys."
Taylor also said he expects to continue to see bankruptcy activity in the upstream energy sector, which will increase opportunities for law firms to represent private equity fund buyers looking to buy distressed firms or assets.
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