Weil Gotshal & Manges Winds Down After 95 Years
Weil Gotshal & Manges is winding down its global operations following a partner exodus and failed merger talks, ending 95 years of business.
The Management Committee of Weil, Gotshal & Manges recommended an orderly wind-down of the global law firm on Wednesday, October 28, 2026. Longtime leader Barry Wolf announced the recommendation during a companywide meeting, with a formal partner vote expected in the coming days. The decision follows a crisis of confidence and a steady exodus of top partners in the United States and London, triggered in part by the September departure of corporate chair Michael Aiello to Cravath, Swaine & Moore.
Internal instability intensified when Ramona Nee declined the position of incoming leader in September and merger negotiations with Willkie Farr & Gallagher collapsed. On Tuesday, Alex Lynch, head of the capital markets group, told associates to "look for employment elsewhere," describing the firm's future as a "giant question mark." While partners had reportedly been sending out résumés for several days, associates continued billing until the wind-down announcement.
Founded in 1931 and renowned for leading the bankruptcies of Lehman Brothers and General Motors, the firm generated $2.1 billion in revenue last year. The firm employs over 2,000 staff worldwide and is currently being advised by bankruptcy lawyer Brian Resnick of Davis Polk. Although the firm remains debt-free and is collecting outstanding client bills, it may file for Chapter 7 bankruptcy specifically to reject its office leases.
