Summary: In 2014, gross revenue at Paul Hastings surpassed the $1 billion mark for the first time in the history of the firm.
Gross revenue at Paul Hastings for 2014 climbed past the $1 billion milestone for the first time in the history of the firm, according to The Am Law Daily.
At the firm, revenue per lawyer jumped by eight percent to $1.15 million and profits per partner jumped by 8.5 percent to $2.36 million. There are 873 attorneys employed by the firm.
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Firm chair Seth Zachary said, “It’s gratifying to have a year where the broad progress in our practices is reflected in record financial results.”
Zachary mentioned leveraged finance, capital markets, intellectual property and white-collar defense as areas of the firm that have performed well. He also mentioned that the firm looked at Latin America as a growth area for the firm and those investments are paying off right now.
Paul Hastings represented the largest pork company in the world, WH Group, in 2014. The firm was present for the company’s $2.36 billion Hong Kong IPO after it acquired Smithfield Foods Inc. for $7.1 billion in 2013.
The firm was victorious in litigation for client Supernus Pharmaceuticals Inc. in its fight to have three patents validated by the Patent Trial and Appeal Board.
The total count of attorneys at the firm dropped in 2014 to 873 from 889, but the number of partners increased to 269. The number of non-partners dropped to 604.
Source: The Am Law Daily
Image credit: Paul Hastings