For law firms, making headlines doesn’t always go hand in hand with generating profits (see: Dewey & LeBoeuf).
For Paul, Weiss, Rifkind, Wharton & Garrison, which saw its financial fortunes improve yet again in 2013 while making plenty of news, there appears to be at least a strong correlation between the two. Paul Weiss’ profits per partner increased more than 8 percent last year, to $3.62 million, while its gross revenues rose nearly 7 percent, to $934.5 million, according to The American Lawyer’s reporting. On the hiring front, the firm added two partners and 51 lawyers, to increase its partnership ranks to 131 and its total attorney head count to 854.
