Weil, Gotshal & Manges
Elite New York law firm known for bankruptcy, restructuring, and M&A representation.
On the record
Checkpoint: 2027 Am Law 100 rankings, which will show if Weil's growth and lateral hiring closed the gap with Kirkland and Latham
The call
Weil still handles marquee bankruptcy and M&A work, but Kirkland and Latham are pulling ahead in league tables and partner retention.
Weil is a top-tier law firm that handles complex legal work for companies in trouble, especially restructuring and bankruptcy cases. No AI or startup can replace it because courts require human lawyers to sign documents and take responsibility for their advice, which gives the whole firm real protection. But inside the world of fancy law firms, Weil is losing ground: Kirkland is winning more big cases, some of Weil's best partners left for competitors in 2024 and 2025, and its profits are not growing as fast as similar firms. The one thing that matters most is whether Weil can keep its restructuring team together and keep winning major cases over the next year, which will show up in rankings by early 2027.
Why
01
AI pressure: None apparent. AI tools can draft and research faster, cutting billable hours, but cannot sign filings or bear malpractice risk as counsel. Could AI do the core job? Unlikely.
02
Bigger players: Kirkland & Ellis and Latham & Watkins. Kirkland now tops the debtor-counsel league table and Latham hired away Weil's restructuring chief, pulling deals and partners from Weil. Could a giant copy it? Probably.
03
What protects it. Bar licensure and decades-deep relationships with judges, bankers, and boards keep Weil in the room for must-hire deals despite recent departures.
What would change this call
2027 Am Law 100 rankings show Weil revenue growth versus Kirkland/Latham. Whether Weil closed the growth gap or fell further behind peers.
Net partner departures through end of 2026, especially around the Jan 2027 leadership transition. Whether attrition accelerates or stabilizes under new Global Chair Matt Barr.
2026 bankruptcy debtor-counsel league table rankings. Whether Weil regains restructuring share lost to Kirkland (#1) and Latham (#2).
Net partner departures through end of 2026, especially around the Jan 2027 leadership transition. Whether attrition accelerates or stabilizes under new Global Chair Matt Barr.
2026 bankruptcy debtor-counsel league table rankings. Whether Weil regains restructuring share lost to Kirkland (#1) and Latham (#2).
Key numbers
- Revenue reached $2.02 billion, up about 10% year over year
- Weil ranked #3 in debtor counsel with 7 retentions vs Kirkland's 13
- 17 partners departed in the first half of 2026
Named risks
- Accelerating partner attrition, 17 departures in H1 2026, could hit restructuring bench strength.
- Ransomware incident with up to $20 million paid to hackers and client data exposed, June 2026.
- Leadership transition to new Executive Partner and sole Managing Partner completes January 1, 2027.
- Revenue growth trailing top-50 peers (under 3% vs 13%+ in 2025), risking further league-table slippage.
- Industry-wide AI compression of chargeable hours (~16% per PwC) could pressure associate-level billing.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Kirkland & Ellis | losing to | Ranked #1 debtor counsel in 2025 (13 retentions) and Q1 2026; poached Weil's restructuring head Ray Schrock in 2024 |
| Latham & Watkins | losing to | Ranked #2 in 2025 debtor retentions (8) and hired Schrock plus two partners from Weil in 2024 |
| Paul Weiss | losing to | Hired Weil partners including a management-committee member in February 2025 |
| Simpson Thacher and Davis Polk | gaining on | Cited by Bloomberg Law as having zoomed past Weil on revenue-growth metrics as of June 2026 |
| A&O Shearman | contesting | Lost its global fund finance co-head to Weil in June 2026 |
Questions people ask
- Is Weil, Gotshal & Manges profitable?
- Yes. Weil reported gross revenue of about $2.02 billion in 2025, up roughly 10% year over year, with average profit-per-equity-partner around $4.6 to $5.3 million, per Legalcheek data as of April 2026.
- Could AI replace lawyers at Weil, Gotshal & Manges?
- Not the core work. AI cannot serve as counsel of record or sign legal opinions, but PwC's 2025 Law Firm Survey forecasts AI could cut chargeable hours by about 16% at top-100 firms, mostly hitting routine drafting and document review.
- Who is Weil, Gotshal & Manges' biggest competitor?
- Kirkland & Ellis, which ranked #1 in debtor-counsel retentions in 2025 (13 vs Weil's 7) and again #1 in Q1 2026 league tables, and which poached Weil's former restructuring head Ray Schrock in 2024.
- Is Weil, Gotshal & Manges losing partners to rivals?
- Yes. Restructuring head Ray Schrock left for Latham & Watkins with two partners in 2024, five senior partners departed to Paul Weiss, White & Case and Sidley in February 2025, and 17 more partners left in H1 2026.
- Who owns Weil, Gotshal & Manges?
- It is a private limited-liability partnership with no parent company or outside investors, standard for major US law firms; it is not publicly traded, as of 2026.
- Did Weil, Gotshal & Manges suffer a cyberattack?
- Yes. Weil reportedly paid up to $20 million to hackers in a ransomware and client-data-theft incident reported in June 2026, with a law-enforcement investigation ongoing.
Timeline
- 2026-06-26Hires A&O Shearman's global fund finance co-head in London
- 2026-06-03Reportedly pays up to $20 million to hackers after data-theft incident
- 2026-04-28Kirkland & Ellis ranks #1 in The Deal's Q1 2026 bankruptcy league tables
- 2026-04-20Adds 8 new partners in Germany in under six months
- 2026-03-17Names Ramona Nee Executive Partner, succeeding Barry Wolf effective Jan 1 2027
- 2026-03-12Kirkland tops 2025 major debtor retentions list; Weil ranks #3
- 2025-10-08Hires 14th litigation partner of 2025, expanding Boston practice
- 2025-02-21Five senior partners depart to Paul Weiss, White & Case and Sidley
- 2024-08Shanghai office closes as firm consolidates Asia in Hong Kong
- 2024-07Opens new Los Angeles and San Francisco offices
Revision history
23 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Weil Gotshal & Manges (2026-04-24)
- Weil, Gotshal & Manges
- Weil Gotshal, Overtaken by NY Big-Law Peers, Races to Catch Up (2026-06-03)
- Kirkland Tops List of Major Debtor Retentions in 2025 Bankruptcies (2026-03-12)
- A&O Shearman Sees Latest Exit as Global Fund Finance Co-Head Joins Weil Gotshal (2026-06-26)
- Wave of Weil Exits (2025-02-21)
- Weil Expands Commercial Litigation in Boston with Longtime Cooley Partner (2025-10-08)
- Weil reportedly pays up to $20 million after hackers steal client data (2026-06-03)
- Weil, Gotshal & Manges, Law Firm Profile
- Weil Names Ramona Y. Nee Executive Partner, Succeeding Barry M. Wolf (2026-03-17)
- Weil, Gotshal & Manges LLP (Andrew Simon)
- AI and the law: the time to wait and see is over (2026-01-13)