Wall Street firm breaks $4m mark for partner profits as revenues rise by 7%
February 04, 2016 at 08:28 AM
1 minute read
The original version of this story was published on Legalweek
Paul Weiss Rifkind Wharton & Garrison has posted increased profits for the 20th year running, on the back of a run of billion-dollar lawsuits and multibillion-dollar transactions for the firm, reports The American Lawyer.
The US firm raked in $1.109bn (£759m) in revenues during 2015, up by 7.1% from $1.036bn (£709m) in 2014. Growth in profits per equity partner kept pace, as the firm’s all-equity partnership saw average take-home profits surge past the $4m mark for the first time.
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