Weil's incoming executive partner, Ramona Nee, has told the firm she will not take up the role, according to the Financial Times, in a move that brings fresh uncertainty to a firm already reckoning with an exodus of senior talent.
Nee had been due to take over in January from longtime leader Barry Wolf but told Weil's management committee she will not take up the post and has held talks with other law firms interested in hiring her, the FT reported on Sunday, citing people familiar with the matter. Nee currently serves as Weil's co-managing partner and co-head of its US private equity practice.
Weil did not immediately respond to a request to comment. However, a spokesperson told the FT that she was not joining a rival firm and that she "has not interviewed with any firms and does not have an offer from any firm".
Semafor reported on Sunday that Nee had held talks with Simpson Thacher & Bartlett, which hired six partners from Weil earlier this month in London and New York.
Boston-based Nee has worked at Weil since 2002 and was named Wolf's successor in March. At the time, Weil said Wolf, who has led the firm for the past 16 years, would continue as chair of its management committee until his retirement at the end of next year, when Nee would also succeed him in that role.
Nee's reported decision to walk away from the executive partner role comes after merger talks between Weil and New York firm Willkie ended late last week, according to Bloomberg Law, which said the two sides had signed a non-disclosure agreement to discuss a tie-up.
Recent months have seen more than two dozen partners leave Weil on both sides of the Atlantic.
The exits have included one of Weil's best-known US corporate dealmakers, Michael Aiello, who left for Cravath Swaine & Moore in September alongside five other M&A partners, and London office co-head David Avery-Gee, whose move to Sullivan & Cromwell was announced later that month.
The Wall Street Journal, meanwhile, reported on Thursday that more senior partners are set to leave the firm. Appellate lawyer Drew Tulumello and securities litigation specialist Caroline Zalka, both members of Weil’s management committee, are expected to join Davis Polk and Paul Weiss respectively, while it is anticipated that corporate co-managing partner Lyuba Goltser will join Sidley Austin.
Weil has moved to offset the exits, adding at least 20 partners across a range of practices, including private equity, corporate and litigation in recent months.
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