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Weil, Gotshal & Manges will ask its partners to vote within days on dissolving the firm, after its management committee recommended an orderly wind-down on 28 October, according to Legal Business. The New York firm said that, after reviewing strategic alternatives, the committee recommended the wind-down. It said the firm would continue serving clients during the process.
Weil was founded in 1931 and has about 1,200 lawyers across 16 offices in six countries, with more than 300 lawyers outside the United States. Bloomberg Law reported that the firm generated nearly $2.1 billion in revenue last year. Its 2025 revenue was $2.077 billion, with profits per equity partner of $5.593 million, Law.com reported.
Nearly 60 partners left Weil since January as talks with V&E and Willkie failed
Legal Business counted nearly 60 partners who left Weil or announced plans to leave since January. More than half of them left or announced their plans since August. Law.com counted more than 30 partners lost or set to leave globally since July.
Weil explored combinations before turning to a wind-down. It held merger talks with Vinson & Elkins that did not produce a deal, The Texas Lawbook reported. It then entered discussions with Willkie Farr & Gallagher, but the two firms ended them, Bloomberg Law reported. In September, Weil said it was not in merger discussions with any firm. On 19 October, its leadership told partners it was negotiating a merger.
The partnership had elected Ramona Nee to succeed Barry Wolf as executive partner from 1 January, Bloomberg Law reported. Nee later told the firm she would not take the role. At least seven management committee members have left or are reported to be leaving since late 2024.
Cravath, Paul Weiss and Simpson Thacher hired Weil corporate and litigation partners; Davis Polk moves reported
Corporate chair Michael Aiello left for Cravath with five M&A partners, including M&A co-head Matthew Gilroy. Global private equity co-head Doug Warner left for Paul Weiss, which also added private equity co-head Chris Machera. Securities litigation head Caroline Zalka planned a move to Paul Weiss as well.
Simpson Thacher hired six Weil partners across London and New York. London finance head Tom Richards and three others were in talks to join the firm. Litigators Drew Tulumello and Chantale Fiebig, both management committee members, were reported to be leaving for Davis Polk. Skadden took regulatory partners Andrew Dean and Christopher Mulligan.
Weil's US private equity group grew from about 80 to about 160 lawyers, while its corporate department had about 600, Bloomberg Law reported.
Weil's revenue grew under 3% in 2025 while the 50 largest firms grew over 13%
Weil was profitable when its leaders recommended the wind-down. Its 2025 profits per equity partner rose 4.13%, making it one of only two firms in the top 20 by PEP without double-digit growth. Cravath was the other, at 5.11%, Original Jurisdiction reported. Weil's PEP ranking fell from ninth in the 2020 Am Law 100 to twentieth in 2026. Its Vault prestige ranking fell from sixth in 2014 to fifteenth.
The decline was relative. Bloomberg Law reported that Weil's revenue grew less than 3% in 2025, while the 50 largest firms grew more than 13%. Its growth from 2008 to 2025 was about half the pace of its peers. Weil kept pace on profit, but not on scale, and rivals began recruiting from the firm.
London office of 200 lawyers to wind up 31 December; Hong Kong rebuild left in doubt
Legal Cheek reported that London associates were told they would receive a 90-day payout. The office, which has roughly 200 lawyers, including about 45 partners, and more than 120 business services staff, is expected to wind up on 31 December.
Weil continued hiring during the turmoil. It rehired Peter Feist, Cravath's head of private equity, as US co-head. It also hired restructuring partner Debra Sinclair from Willkie Farr. In London, it added Freshfields private equity partner Rebecca Ward. It hired Shu Du, Skadden's sole Beijing partner, to launch an Asia capital markets practice in Hong Kong. That Hong Kong rebuild is now in doubt.
Weil built much of its name on restructuring and bankruptcy work. Dewey & LeBoeuf filed for Chapter 11 in May 2012 after more than 160 of its roughly 300 partners left. Weil remained profitable and was still adding partners when its leaders recommended closing it. Partners are expected to vote in the coming days.
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