Paul Hastings has posted a 3.6 per cent rise in revenue for the 2013 financial year, with turnover increasing from $908m to $941m.
In a year when most of the firm’s key fiscal metrics rose, average profit per partner grew by 4.6 per cent from $2.08m to $2.17m while revenue per lawyer increased by 5 per cent from $1.01m to $1.06m.
The firm said it had seen a “significant uptick in complex, innovative, cross-border deals valued over $1bn”, which drove the it’s “solid financial results”.
Paul Hastings advised on 35 transactions worth in excess of $1bn across a wide range of industries during 2013. They included Shuanghui’s $7.1bn acquisition of Smithfield, the largest acquisition of a US company by a Chinese company to date; advising the banks on Fibra Uno’s equity offering, the largest in Latin America in 2013; and Italian gas transportation and storage operator SNAM on the €2.4bn acquisition of Total’s gas transport and storage business.
In London the firm made a number of appointments including real estate partner David Ryland, who joined the firm from legacy SJ Berwin along with a team of associates in November 2013 (4 November 2013), capital markets partner James Cole, who joined from Weil Gotshal & Manges (18 January 2013), and structured finance specialist Neil Hamilton, who joined as a partner from Clifford Chance (17 September 2012).
The firm also promoted real estate lawyer Miles Flynn and M&A senior associate Ross McNaughton to partner in London.
Paul Hastings did not divulge the financial performance of its London office.