Paul Hastings' revenue dips as firm targets more network expansion
Paul Hastings has posted a 2 per cent drop in revenue from the previous year’s figures, taking $884 million, down from $902 million in 2010.
Revenue per lawyer was up, reaching $1.003 million, while average profit per equity partner stayed effectively flat at $1.965m ($1.99m in 2010).
The chairman of Paul Hastings Seth Zachary described the results as “steady” in the current environment, adding that he expects that the increased revenue per lawyer and current inventory will translate into a better 2012. “Finance is picking up while capital markets is still choppy, but there is some increase in M&A, including from Asia,” he said.
The firm intends to continue its international expansion this year, with a new office in Houston, Texas, and plans to expand its London and Germany offerings.
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