It is estimated that the corporate group represents roughly 10 per cent of the firm’s business likely to be in the region of $38 million based on the fact that Boies Schiller’s 2015 revenue was reported to be $380 million. The move was precipitated by challenges faced by the company given its boutique offering compared with larger competitors making it difficult to rapidly expand and maintain the high quality characterised by the firm.

Team

David Boies has headed the 300-lawyer litigation law firm since he founded it in 1997 and his son Chris has run the corporate practice. Paul Hastings has announced that five Boies Schiller partners – Robert Leung, Mike Huang, Stefan dePozsgay, Jason Hill, and Russell Franklin – had joined the firm. Mr Chris Boies was not one of those named to be joining Paul Hasting. He joined his father in the business 20 years ago after working as an investment banker for Credit Suisse.

Client demand

Seth Zachary, chair of Paul Hastings, said that the addition from Boies Schiller ‘reflects increasing client demand for help with large and complex cross-border transactions and capital flows. ‘This is among the growing strategic investments we make across the firm, including advancements in our M&A, Private Equity, and Latin America practices, and in growth areas such as Technology, Media, Entertainment, and Telecoms (TMET), Life Sciences, and Energy.’