Paul, Weiss, Rifkind, Wharton & Garrison saw both revenue and profits per partner slide down last year, halting several years of financial growth. But the firm’s chairman, Brad Karp, said the firm had a strong start in 2020, and its lawyers are now busy on pro bono efforts and advising clients in response to the pandemic.
Last year, Paul Weiss’ gross revenue fell 3.6% to $1.39 billion last year, and with flat head count around 1,020 lawyers, revenue per lawyer fell at a similar rate to $1.36 million. Average profits per partner fell 6.4% to $4.7 million, amid a 5.5% growth in the firm’s equity-only partnership ranks.
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