Michael Aiello and five M&A partners are moving from Weil to Cravath in New York.
Michael Aiello, the corporate chair of Weil, is joining Crav.ath alongside five M&A partners: Matthew Gilroy, Amanda Fenster, Meghan Pendleton, Eoghan Keenon, and Michelle Sargent. This move adds to a series of senior departures from Weil as competition for market talent intensifies. Cravath is known for its selective lateral recruitment. The firm's move to hire the group follows the breakdown of traditional lockstep pay models, where partner pay is determined by seniority. Most firms have transitioned to performance-based models, which allows for larger offers for top partners. Weil is currently undergoing a leadership transition. Ramona Nee is set to succeed Barry Wolf as executive partner in January next year. Other recent departures from and to the firm include Chris Machera, Stephanie Srulowitz, Andrew Nichol, and Brian Parness.
Sources
-
Weil corporate head set to leave for Cravath
Legal Business
-
Weil loses corporate chair in six-partner Cravath raid, report says
Non-Billable