Paul Weiss: revenue and PEP up

Paul Weiss Rifkind Wharton & Garrison has announced revenue growth of 6.3 per cent for the 2008 financial year.

The US firm posted revenues totalling $692m for 2008, up from $652m in the 2007 financial year.

Average profit per equity partner (PEP) increased by 2.3 per cent, up from $2.6m in 2007 to $2.7m last year.

A source close to the firm said: “Litigation last year was totally off the chart and this really helped the firm to perform well.”

Earlier this week The Lawyer reported on Paul Weiss hiring Beth Wilkinson, a former co-chair of Latham & Watkins‘ white collar practice group and one-time general counsel of US mortgage giant Fannie Mae,. She will join the firm in early February (21 January).

Late last year the firm promoted four partners in its litigation and corporate departments (9 December 2008).

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