Exclusive | Weil Gotshal to Lose Top Dealmaker and Five Other Partners to Cravath

Live updates

1. 1h ago

   Weil Gotshal Hit by Partner Exits After Growth Strategy Dispute

   Weil Gotshal is facing the departure of corporate chair and top rainmaker Mike Aiello alongside five other partners who are moving to rival firm Cravath. Aiello, who was Weil's highest-paid partner, chose to leave following disagreements over the firm's growth strategy. While Cravath leadership welcomed the incoming M&A team, Weil minimized the loss by describing Cravath as a smaller platform. This high-profile lateral move shifts significant dealmaking talent between the competing law firms and removes a central leader from Weil's corporate practice.

   Why it matters

   Lateral partner moves involving top rainmakers can significantly alter the competitive standing and revenue streams of elite law firms. The departure of Weil's corporate chair highlights internal tensions regarding growth strategies at major firms. Meanwhile, Cravath absorbs a major team of partners to bolster its corporate and M&A capabilities.

   What is confirmed

   • Mike Aiello, the corporate chair and highest-paid partner at Weil Gotshal, is leaving the firm to join Cravath with five other partners.
   • Mike Aiello's exit came about after a difference of opinion as to how the firm should grow, according to a source inside Weil.

   What to watch next

   • Further announcements regarding additional partner or associate departures from Weil Gotshal
   • Integration details and client transitions for the incoming M&A team at Cravath
   Sources used for this update (2)

   1. www.ign.com — Upcoming PS5 Games: The Future of PlayStation Exclusives
   2. www.law.com — What's Next for Weil After Top Rainmaker's Exit?
   confidence 90%
2. 2d ago

   Weil Gotshal Corporate Chair and Five Partners Join Cravath

   Mike Aiello, the Corporate Chair and highest-paid partner at Weil Gotshal, is leaving the firm to join Cravath along with five other partners. The group hire includes an M&A team, marking a significant shift of talent between the rival law firms. While Cravath leadership praised the incoming team for embracing the firm's values, Weil has characterized Cravath as a smaller platform. This departure removes a top dealmaker from Weil's corporate practice.

   Why it matters

   The movement of high-earning partners and specialized M&A teams often signals shifts in market power or internal firm stability. This group hire is described by Law360 as historic for Cravath. It creates a vacancy in Weil's corporate leadership.

   What is confirmed

   • Mike Aiello, Weil's Corporate Chair, is leaving for Cravath.
   • Five other partners are joining Aiello in the move to Cravath.
   • The departing group includes an M&A team.
   • Mike Aiello is the highest-paid partner at Weil Gotshal.

   Still unconfirmed

   • Weil characterized Cravath as a smaller platform.
   • Cravath leadership stated the Weil team is embracing the firm's values.

   What to watch next

   • Client transfers from Weil to Cravath
   • Weil's appointment of a new Corporate Chair
   • Statements from departing partners regarding their move
   Sources used for this update (7)

   1. WSJ — Exclusive | Weil Gotshal to Lose Top Dealmaker and Five Other Partners to Cravath
   2. Law.com — Mike Aiello, Weil Corporate Chair, Plans Exit for Cravath
   3. Reuters — Top Weil dealmaker to depart with M&A team for rival law firm Cravath
   4. Law360 — Cravath Makes Historic Group Hire In Weil M&A Addition
   5. The Lawyer — Cravath boss hails Weil team for “embracing firm’s values”
   6. wsj.com — Why Weil Gotshal’s Highest-Paid Partner Jumped to Cravath, Shocking Big Law
   7. Above the Law — Weil's Corporate Chair Decamps For Cravath, Which Weil Would Like You To Know Is 'A Smaller Platform'
   confidence 95%