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U.S. law giant closes doors after leaving dozens of partners

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 02/11/2026, 12:11:25 UTC.

Briefings

A major US law firm Weil, Gotshal & Manges is closing its doors after the departure of senior partners has jeopardized its future. The firm, which has been around for 95 years, will dissolve after the board formalizes the decision in the coming days. The Financial Times reports the firm employs around 1,200 lawyers and generates annual revenues of approximately $2 million. Despite a positive performance in 2026, future revenue prospects deteriorated due to partner departures and failed merger negotiations. The firm's closure represents a significant shift in the traditional stability of US law firms, where partner turnover increasingly impacts competitiveness. The decision follows the departure of Michael Aiello, who moved to Cravath, Swaine & Moore, and the failure of succession planning for executive partner Ramona Nee.

Key points

• The US law firm Weil, Gotshal & Manges is closing its doors after the departure of senior partners has jeopardized its future.
• The firm employs around 1,200 lawyers and generates annual revenues of approximately $2 million.

Context

The firm, founded in the 1930s, has built an international reputation in corporate restructuring, insolvency, and large corporate operations. It has worked on major cases like Enron and Lehman Brothers, and has assisted with GM administration. The closure represents a significant shift in the traditional stability of US law firms, where partner turnover increasingly impacts competitiveness.

Limitations

Evidence is limited to Financial Times reporting on partner departures and failed merger negotiations. Specific dates for the dissolution decision are not provided, only the timeframe of the process. The article does not contain data on the exact number of partners who left or the specific financial impact beyond the $2 million revenue figure.

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