Firm Profiles
IN-DEPTH RESEARCH REPORT
on Paul, Weiss, Rifkind, Wharton & Garrison LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Paul, Weiss, Rifkind, Wharton & Garrison
- Designation: New York
- Head Count: 803
- Gross Revenues: $877,000,000
- Revenue Per Lawyer: $1,090,000
- Profits Per Partner: $3,350,000
- Year Over Year Change: 5
Law firm boasts more often fall under wishful thinking than fact, but when chair Brad Karp proclaimed Paul, Weiss, Rifkind, Wharton & Garrison “the go–to firm for Wall Street litigation,” he may have been onto something.
Based in New York, the firm has won prestige, accolades, and—most importantly—cases for its work for the banking industry’s best known names. Chief among them: Citigroup Inc., the litigation practice’s biggest client.
Paul, Weiss was named The American Lawyer’s Litigation Department of the Year in 2006, was a finalist for that prize in 2010, and earned an honorable mention in 2012 largely for its work representing Citigroup—and helping it step through minefields in various credit crisis and subprime–related litigations. Citi is in good company, too: Other corporate titans that have reached out to Paul, Weiss trial lawyers include Pfizer Inc.; JPMorgan Chase & Co.; Bank of America Corporation; Wells Fargo & Company; Morgan Stanley; HSBC Holdings plc; The Goldman Sachs Group, Inc.; and The Bank of New York Mellon Corporation.
While there are larger firms around, few are as profitable. Indeed, on the 2011 profitability index, Paul Weiss came in second, and ranked fourth for average partner compensation and seventh in profits per partner. More important, Paul Weiss has appeared on The American Lawyer’s A–List since it was first published in 2003. The A–List ranks big law firms on a formula that measures revenue per lawyer, pro bono activity, and their scores on the magazine’s associate and diversity surveys. The top twenty firms in the Am Law 200 comprise the A–List.
Paul Weiss has eight offices but about 85 percent of its lawyers are in New York. Only Skadden, Arps, Slate, Meagher & Flom has a bigger New York presence.
Paul Weiss is famous for its litigation department and pro bono record. But it also has strong lawyers in bankruptcy, employee benefits, executive compensation, real estate, and tax law. The firm brought in six lateral partners from O’Melveny & Myers to boost its private equity practice. And it remains a fixture in the music business and in the Broadway theatre, a practice that dates back to protecting Cole Porter’s copyrights.
—Updated as of 1/1/12
Firm Rankings
| Survey | Rank | Year Over Year Change | Description |
|---|---|---|---|
| Am Law 100 | 25 | 5 | Gross revenue |
| Am Law 200 | 25 | 5 | Gross revenue |
| NLJ 250 | 49 | 1 | Lawyer head count |
| The A-List | 14 | 5 | Overall excellence |
| Pro Bono Scorecard | 43 | 11 | Pro-bono commitment |
| Diversity Scorecard | 14 | 3 | Minority head count |
| Midlevel Associates Survey | 46 | 19 | Job satisfaction |
| Summer Associates Survey | 101 | 10 | Summer programs |
In the News
Court likely to dump DOMA, punt on Prop. 8
Tony Mauro and Marcia Coyle : The National Law Journal : April 1, 2013
The Supreme Court's historic two-day scrutiny of the issue of same-sex marriage showed the justices as a cautious bunch — wary about ruling on a subject that is new to them, especially when it came to the court in the form of two cases weighted down with procedural baggage.
15 Banks Charge Cote Is Forcing Settlement With Federal Agency
Jan Wolfe : The Litigation Daily : April 1, 2013
According to the banks in a legal battle with the conservator for Fannie Mae and Freddie Mac, if they end up settling, it's not because their opponents have a strong case, it's because Southern District Judge Denise Cote is determined to cripple their defense.
Banks Topple Antitrust Claims in Private LIBOR Suits
David Bario : The Litigation Daily : April 1, 2013
Akin Gump, White & Case Advise as Embattled Hess Sheds Russian Unit
Brian Baxter : The Am Law Daily : April 1, 2013
Under fire from activist investor Elliott Management Corp., integrated oil and gas company Hess has turned to its longtime legal advisers from White & Case to handle its largest-ever divestiture: the $2.1 billion sale of Russian subsidiary Samara-Nafta to Lukoil, a Moscow-based energy giant being advised by Akin Gump Strauss Hauer & Feld.
Deals & Suits
: Corporate Counsel : April 1, 2013
From Boutique to Litigation Outlet
: New Jersey Law Journal : March 29, 2013
Litigation Department of the Year — Personal Injury (Finalist) — Javerbaum Wurgaft Hicks Kahn Wikstrom & Sinins
Reflecting on 'Super Bowl' of High Court Arguments
Todd Ruger : The National Law Journal : March 29, 2013
Elizabeth Wydra spent the past two days watching attorneys argue about same-sex marriage. It was, the appellate advocate said, a "Super Bowl of Supreme Court arguments" featuring major stars including Paul Clement of Bancroft and Principal Deputy Solicitor General Sri Srinivasan.
Court Likely To Dump DOMA and Punt on Proposition 8
Tony Mauro and Marcia Coyle : The National Law Journal : March 29, 2013
The Supreme Court's historic two-day scrutiny of the issue of same-sex marriage showed the justices as a cautious bunch — wary about ruling on a subject that is new to them, especially when it came to the court in two cases weighted down with procedural baggage.
The Bankruptcy Files: AMR-US Airways Merger Seeks Liftoff
Brian Baxter : The Am Law Daily : March 29, 2013
A U.S. bankruptcy judge approved this week an $11 billion merger between American Airlines parent AMR and U.S. Airways Group. In other big bankruptcies of note, Kirkland & Ellis is advising Atlantic City's newest casino Revel in its restructuring proceedings, while Willkie Farr takes the lead for wireline telecom services provider Otelco in its Chapter 11 case.
Supreme Court Likely to Dump DOMA, Punt on Prop 8
Tony Mauro and Marcia Coyle : The National Law Journal : March 29, 2013
- Andrews Kurth
- Arent Fox
- Ashurst
- Bingham McCutchen
- Bracewell & Giuliani
- Chadbourne & Parke
- Covington & Burling
- Crowell & Moring
- Denton Wilde Sapte
- Dewey & LeBoeuf
- Dickstein Shapiro
- DLA Piper
- Eversheds
- Freehills
- Goulston & Storrs
- Heller Ehrman
- Herbert Smith
- Holland & Knight
- Howrey
- Husch Blackwell
- Irwin Mitchell
- Jones Day
- K&L Gates
- Katten Muchin Rosenman
- Keker & Van Nest
- Kilpatrick Townsend
- King & Spalding
- Kirkland & Ellis
- Lathrop & Gage
- Locke Lord
- Loeb & Loeb
- Mallesons Stephen Jaques
- Manatt, Phelps & Phillips
- Milbank, Tweed, Hadley & McCloy
- Morgan, Lewis & Bockius
- Morrison & Foerster
- Munger, Tolles & Olson
- O'Melveny & Myers
- Patton Boggs
- Paul, Weiss, Rifkind, Wharton & Garrison
- Perkins Coie
- Porter & Hedges
- Proskauer Rose
- Ropes & Gray
- Shearman & Sterling
- Sheppard, Mullin, Richter & Hampton
- Skadden, Arps, Slate, Meagher & Flom
- Slaughter and May
- Sonnenschein Nath & Rosenthal
- Squire, Sanders & Dempsey
- Steptoe & Johnson LLP
- Sullivan & Worcester
- Thompson Hine
- Vladeck, Waldman, Elias & Engelhard
- Wachtell, Lipton, Rosen & Katz
- White & Case
- Willkie Farr & Gallagher
- Wilson Sonsini Goodrich & Rosati
