Weil Gotshal and Willkie Farr End Merger Talks Amid Ongoing Partner Exodus

Key points

• Weil Gotshal and Willkie Farr ended merger discussions on October 22, 2026, after signing a non-disclosure agreement.
• Drew Tulumello and Chantale Fiebig, both members of Weil’s management committee, are joining Davis Polk & Wardwell.
• Lyuba Goltser, co-managing partner of Weil’s corporate department, is moving to Sidley Austin.
• Caroline Zalka, a securities litigation partner, is joining Paul Weiss, according to The Wall Street Journal.
• Weil has experienced nearly 40 partner departures since January 2026, including corporate chair Michael Aiello’s move to Cravath Swaine & Moore in September.
• The failed merger talks raise concerns about a 'talent run' where partners leave due to fear of being left behind at a depleted firm.

Background

Weil Gotshal & Manges has faced significant instability since January 2026, with nearly 40 partner departures. Key exits include Michael Aiello, the corporate chair, who left for Cravath Swaine & Moore in September with five other M&A partners. The firm also lost its London co-managing partner, David Avery-Gee, to Sullivan & Cromwell in September. In response, Weil leadership initiated merger discussions to stabilize the practice and attract returning laterals, including Cravath’s private equity head Peter Feist. The firm generated $2.077 billion in revenue and $5.593 million in profits per partner last year, but the exodus has prompted aggressive recruitment efforts and strategic tie-up negotiations.

How outlets are covering it

Bloomberg Law emphasizes the collapse of merger talks as a critical moment for Weil’s leadership, highlighting the risk of a 'talent run' where partners leave due to fear of being left behind rather than financial incentives. The outlet notes that previous firms like Shearman & Sterling and Kaye Scholer have successfully merged after breaking off talks with initial suitors. Law.com focuses on the specific departures of management committee members Drew Tulumello and Chantale Fiebig to Davis Polk & Wardwell, underscoring the immediate impact on Weil’s leadership structure. Both outlets agree that the failed merger talks intensify pressure on Weil to find alternative solutions to stabilize the firm amid ongoing partner exits.

Why it matters

The collapse of merger talks between two major US law firms signals deep instability in the legal market, where high-end corporate partners are increasingly mobile. Weil’s ongoing partner exodus threatens its competitive position and financial stability, potentially setting a precedent for other firms facing similar challenges. The situation highlights the risks of talent runs in large law firms, where perceived depletion can accelerate departures beyond financial incentives. For the legal industry, this underscores the importance of strategic mergers and retention strategies in a competitive market for top legal talent.

What to watch

Weil Gotshal & Manges may resume merger discussions with other firms, as previous cases suggest that failed talks can lead to successful mergers with alternative partners. The firm may also intensify efforts to recruit returning laterals to stabilize its practice. Continued partner departures could trigger a broader talent run, further weakening the firm’s position. Leadership will need to address concerns about the firm’s future to prevent additional exits. The legal market will watch closely for any new merger announcements or strategic moves by Weil to retain its remaining partners.