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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Paul Weiss Rifkind Wharton & Garrison has recorded a 7 per cent rise in global revenue as the firm’s chairman Brad Karp pronounces 2013 the “busiest in history.”
The firm’s 2013 global revenue figure stood at $934.6m for the year, while its profit per equity partner (PEP) bumped up 8 per cent to $3.62m.
While Karp would not divulge London’s revenue figure he suggested that turnover in the City would have followed suit, with capital markets and transactional work particularly busy.
In London the firm continued to work closely with Slaughter and May, with Slaughters instructing the office to advise UK estate agency Countrywide on US law aspects of its IPO (20 February 2013). The two firms also paired up for Cineworld’s proposed combination with Cinema City International in January this year.
Major mandates globally included representing JP Morgan after the US government investigated allegations of bribery connected to the bank’s hiring practices in Hong Kong (22 August 2013).
The firm has grown significantly in headcount since 2009, with total lawyer numbers growing from 633 to 854. Its partnership has grown from 116 to 131.
More recently the firm was instructed by longstanding adviser Time Warner Cable, which turned to Paul Weiss earlier this month for its proposed £27bn ($45bn) merger with Comcast (13 February 2014).
Paul Weiss is best known as one of the US’s premier litigation practices, a tag borne out by prominent roles last year for clients such as Citigroup, Bank of America and JPMorgan.