Gibson Dunn snaps up Weil’s private funds team in City expansion
Law firm Gibson Dunn is set to snap up a team of almost 40 private funds lawyers in London from Weil, Gotshal, and Manges, as the storied US law firm prepares to wind down after nearly a century. Gibson Dunn, the law firm which led on the UK side of Space X’s $75bn stock market [...]
Gibson Dunn, a prominent US law firm, is acquiring a team of approximately 40 private funds lawyers from Weil, Gotshal, and Manges in London. This acquisition is part of Gibson Dunn's strategy to expand its private funds practice in London as part of a larger investment plan. The move is expected to bolster Gibson Dunn's presence in the competitive London market, where it currently employs 265 lawyers and has a global presence of over 2,200 lawyers.
The acquisition has been in discussion for over a year, with Gibson Dunn leaders, James Bromley and James Sargent, leading the ten partners in the incoming team. If the proposed partnership vote is approved, the relocation of the Weil team to Gibson Dunn's London office - which has operated since 1996 - would result in the loss of thousands of jobs, including 50 partners, 200 solicitors, and roughly 120 business services staff.
The decision to wind down Weil after 95 years, as announced by the US legal powerhouse, comes as a result of years of top talent exodus and the departure of some of its top-billing partners. Former Weil partner and City AM correspondent described the firm's situation as a "Titanic situation", expressing shock and disbelief at the company's path. The City of London Law Society has pledged to support Weil Gotshal and Manges trainees who are forced to seek new employment.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
