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Paul Hastings’ average profit per equity partner (PEP) increased by 4 per cent over 2016 to $2.6m.
The rise came alongside a slight uplift in turnover of nearly 2 per cent from $1.06bn to $1.07bn.
The revenue growth was slower compared to the firm’s financial year in 2015 in which turnover surged nearly 6 per cent above the $1bn mark.
Lawyer headcount rose for the second year in a row from 912 to 921 – a rise of 1 per cent.
This meant revenue per lawyer nudged up nearly 1 per cent from $1.16m to $1.17m.
Paul Hastings has seen a number of big hitters leave and join in the last year. In London, the firm was boosted by the arrival of three Ashurst finance partners – Michael Smith, Diala Minott and Cameron Saylor.
It had also intended to hire Ashurst banking partner Nigel Ward but he back-tracked on the move last September.
In the US, Paul Hastings lost a three-partner team to Allen & Overy, as the magic circle firm continued to build its finance team in New York.
It did, however, hire a bunch of corporate lawyers from Boies Schiller & Flexner this month.
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