Annual gross tops $1B at Paul Hastings, a law firm first
For the first time, annual gross revenue at Paul Hastings has topped $1 billion, even as the firm’s attorney head count dipped a bit.
The 873-attorney firm said it made $1,000,500,000 in 2014, up a little over 6 percent from $941,000,000 in 2013, reports the Am Law Daily (sub. req.).
Profit per partner rose 8.5 percent to $2.36 million and revenue per lawyer increased 8 percent to $1.15 million. Paul Hastings had 889 lawyers at the end of 2013, but seven fewer partners than the 269 that it reported for 2014.
“It’s gratifying to have a year where the broad progress in our practices is reflected in record financial results,” chairman Seth Zachary told the legal publication. He credited the firm’s focus on Latin America, as well as strong performance by its intellectual property; leveraged finance; securities and capital markets and white-collar defense practice groups for the gratifying financial results.
Earlier this week, the firm announced that it had added a three-partner white-collar defense team from Squire Patton Boggs to its attorney roster.
