Paul Hastings

Paul Hastings is a top-tier US law firm with a large - and ever-growing - presence in London.

Founded in Los Angeles in 1951 as Paul Hastings Janofsky & Walker, the firm rebranded to Paul Hastings in 2011 and has since expanded aggressively across key global financial hubs.

The firm established its London presence in 1997, and has steadily strengthened its position in the financial centre ever since.

Today, Paul Hastings is considered a formidable American competitor in London - certainly one of the more ambitious US firms in the market - with a reputation that's rapidly growing in the UK thanks to a strategic lateral hiring and strong finance focus.

The firm operates with more than 1,000 lawyers globally, including around 140 fee-earners in London with around 50 partners. While not matching the London scale of US rivals like Kirkland & Ellis or Latham & Watkins, it has built a focused City operation that punches above its weight in key areas.

Since the 2010s, the firm’s strategy has been laser-focused: grab the best lateral talent from competitors and aim to dominate the most lucrative practice areas. And it's working - Paul Hastings has been steadily climbing the rankings for European leveraged finance and high-yield work.

The London office upgraded to new premises in the 100 Bishopsgate skyscraper in 2019, in a strong signal of the firm’s commitment to the City. At the same time, Paul Hastings has been expanding its training contract programme which is always a good sign.

In the UK market, Paul Hastings is best known for its leveraged finance and private equity work, where it regularly advises the biggest names in the financial world, from global investment banks to private equity giants. The firm is a go-to adviser for complex, cross-border financing transactions, regularly acting on billion-dollar deals that shape the market.

Beyond finance, Paul Hastings has a strong presence in M&A, infrastructure and financial crime.

Other things to know

US-Style Compensation: The firm follows the classic American approach to pay - NQs earn £173,000, firmly in the upper tier of City compensation. But it comes with a tradeoff, American hours come with that American salary.

What is Paul Hastings is known for?

Paul Hastings is a full service corporate law firm. In the UK market, it is best known for its expertise in the following areas:

Leveraged Finance: Paul Hastings has one of the City’s leading leveraged finance practices, with particular expertise advising on private equity-led leveraged buyouts (LBOs). The firm has a Band 2 ranking by Chambers for its lender advice on big-ticket financings, and a Band 3 ranking for its high-yield bond practice.

Structured Finance: Paul Hastings has a strong securitisation practice. It’s also a go-to adviser on collateralised loan obligations (CLOs), advising arrangers and asset managers. Its CLO practice is ranked Band 1 by Chambers.

Infrastructure: Paul Hastings is a leading adviser on deals in the infrastructure sector, advising across infrastructure M&A and financings. The practice is ranked in Band 3 by Chambers.

What's Chambers?

We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.

It's important to note that being ranked in any band at all is still considered a significant achievement.

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Who does Paul Hastings compete with?

In the London market, Paul Hastings goes head-to-head with the City’s other top-tier lender-side leveraged finance firms, including US rivals Latham & Watkins and Milbank, and Magic Circle names A&O Shearman and Linklaters.

In 2024, Paul Hastings’ global revenue was $2.2 billion.

How much does a partner at Paul Hastings make?

In 2023, Paul Hastings’ profit per equity partner (PEP) was $5.3 million, according to figures reported by ALM / Law.com.

This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.

This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.

How many trainees does Paul Hastings take?

Paul Hastings typically takes on 12 trainees each year in London.

Trainees complete four seats in different departments, each lasting six months.