Paul Hastings targets 20 per cent growth and Germany launch

Paul Hastings Janofsky & Walker is targeting 20 per cent growth for its UK revenue this financial year, at the same time as investigating launching in both Chicago and Germany.

Chairman Seth Zachary said the firm was on track to hit its 20 per cent target for improved UK revenue at the firm’s half-year mark of 31 July, while global growth was closer to 15 per cent.

If the Los Angeles-based firm achieves its aim in London, it would see the firm scoop almost $15m (£7.99m) in the UK this financial year. This would compare with the $12m (£6.39m) reported in 2005-06. At the same time Zachary said that Paul Hastings’ management team was investigating opportunities to launch in both Chicago and Germany.

“We’re looking actively in Chicago and Germany,” Zachary confirmed. “We’ve been approached by clients and others to launch there, but it’s extremely unlikely that we’d do a merger. It’s more likely that we’d grow by individual or group hires.”

Zachary said there was no formal timeline for the expansion and the firm had not yet identified in which German city in would launch. But the offices would be full service, focusing on private equity, finance and litigation.

Paul Hastings has been expanding aggressively in recent years off the back of strong financial performance, including launching in Milan and Palo Alto last year.