Weil, Gotshal & Manges, a top New York law firm, is facing a crisis as key partners depart following a planned succession from Barry Wolf to Ramona Nee. Michael Aiello, a top dealmaker, is leaving for Cravath, Swaine & Moore, taking five partners with him. Other exits include the co-head of US private equity and the London M&A leader.

The firm is now considering a merger, as talent exodus signals broader Big Law instability. Rivals are poaching Weil lawyers, and Jonathon Soler, co-managing partner, calls the churn an industry-wide issue. Founded in the 1930s by Jewish lawyers, Weil once ranked among the top 10 US firms, but its revenue of ~$2bn lags behind Kirkland & Ellis ($10.6bn) and Latham & Watkins ($8.3bn).

The departures have sparked speculation across the legal sector.