Wake Up Call: Paul Hastings’ Revenues Rise to $1.67 Billion

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• Paul Hastings grew revenue 6% to $1.67 billion in 2022 thanks to bankruptcy, litigation, and deal work grabbed from competitors after a “historic” 2021. Average profits per equity partner at the Los Angeles-founded firm rose 4% to $4.89 million, as its equity partnership shrank 7.9% to 163, according to a report based on early data. (American Lawyer)
• Davis Polk & Wardwell snared Cravath Swaine & Moore partner and bank regulatory practice head David Portilla as a financial ...