Weil Loses Corporate Chair and M&A Team to Cravath in Major Lateral Raid
Michael Aiello, the chair of Weil Gotshal & Manges’s corporate department, is leaving for Cravath Swaine & Moore with a team of approximately six M&A partners, including co-head Matt Gilroy. While Cravath praised the group as a cultural fit, Weil described Cravath as a 'smaller platform' and vowed to accelerate its growth strategy. The move represents a significant loss for Weil, which has recently added 51 lateral partners, and highlights ongoing competition for top-tier dealmakers in the legal market.
Key points
- Michael Aiello, chair of Weil’s roughly 600-lawyer corporate department and a member of its management committee, is departing for Cravath Swaine & Moore.
- Aiello is taking a team of approximately six M&A partners with him, including corporate co-head Matt Gilroy.
- Cravath presiding partner Faiza Saeed described the incoming team as 'extraordinarily talented' and a 'unique fit' within the firm's culture.
- Weil’s official statement characterized Cravath as a 'smaller platform' and stated the firm intends to accelerate its ambitious growth strategy.
- Weil has added 51 lateral partners since the start of last year, indicating an aggressive expansion strategy despite the loss.
- The move is described as a significant loss for Weil, potentially reshuffling its internal power structure.
Background
This development follows earlier reports from our archive on September 11, 2026, which first confirmed that Michael Aiello was planning his exit to Cravath. The broader context involves a competitive legal market where firms are offering multi-year guarantees to attract high-revenue partners. The unrelated archive entry regarding smart-TV platforms provides no relevant background for this legal industry story.
How outlets are covering it
Above the Law and Law.com both confirm the core facts of the departure and the team size. However, they differ in tone regarding Weil’s public statement. Above the Law criticizes Weil’s description of Cravath as a 'smaller platform,' noting that Cravath is a white-shoe standard-bearer and that the industry’s associate pay benchmark is literally called the 'Cravath scale.' Law.com reports the statement neutrally, quoting Weil’s claim that the move is for a 'smaller platform' without editorial commentary. Both outlets agree that the loss of Aiello and his team is a significant blow to Weil’s corporate department.
Why it matters
The departure of a top-tier M&A rainmaker and his team signals continued volatility in the legal market, where firms compete aggressively for high-revenue partners. It also highlights the strategic challenges faced by large firms like Weil in retaining key leaders despite aggressive growth initiatives. The move may impact client relationships and internal power dynamics at both firms, influencing future hiring and market positioning in the corporate practice area.
What to watch
Weil is expected to accelerate its growth strategy to mitigate the loss, potentially through further lateral hiring or internal promotions. Cravath will likely integrate the new partners into its existing corporate practice, leveraging their M&A expertise. The legal industry will watch for any ripple effects on associate pay benchmarks and firm valuations, as the 'Cravath scale' remains a key metric for associate compensation. Clients of Aiello and his team may reassess their legal representation, potentially leading to shifts in market share for major M&A deals.
- Weil's Corporate Chair Decamps For Cravath, Which Weil Would Like You To Know Is 'A Smaller Platform' Above the Law
- Exclusive | Weil Gotshal to Lose Top Dealmaker and Five Other Partners to Cravath WSJ
- Mike Aiello, Weil Corporate Chair, Plans Exit for Cravath Law.com
- Top Weil dealmaker to depart with M&A team for rival law firm Cravath Reuters
- Cravath Makes Historic Group Hire In Weil M&A Addition Law360
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