Paul Weiss Promotions Surge in First ‘Non-Equity’ Year (1)

Paul Weiss on Friday announced the promotion of 34 new partners, nearly tripling the size of its class after the firm’s chair said it would roll out a non-equity partner tier.

The firm didn’t say how many of the new partners would receive the non-equity designation. Those lawyers are granted the partner title, but don’t share in the firm’s profits in the same way as equity partners.

The tier has swept across the legal industry, a move seen as providing firms with more flexibility in an increasingly competitive, and expensive, market for top talent. Paul Weiss is ...