Weil Gotshal Explores Wind-Down After Nearly 100 Years as Partner Exodus Deepens
Updated
Updated · The New York Times · Oct 28
Weil Gotshal Explores Wind-Down After Nearly 100 Years as Partner Exodus Deepens
2 articles · Updated · The New York Times · Oct 28
Summary
Weil Gotshal has begun discussing a possible wind-down after hiring Davis Polk advisers in recent weeks to assess survival options, including a rescue deal.
The talks turned more urgent as more lawyers prepared to leave, adding to a partner exodus that already included the head of the firm’s global corporate practice.
A failed leadership succession plan and a collapsed merger with Willkie Farr & Gallagher further weakened the once-elite firm’s position.
Founded nearly a century ago and long known for bankruptcy work, Weil has struggled to match giant rivals that are luring talent with richer pay packages.
The crisis reflects a broader Big Law shift toward scale and profit concentration, with the biggest firms pulling in more lawyers and business.