Weil turbulence deepens as leader-elect’s future turns uncertain

Weil has been hit by fresh uncertainty after reports that leader-elect Ramona Nee has stepped back from the firm’s top job and held talks with Simpson Thacher.

Nee, a Boston-based partner and Weil co-managing partner, had been due to take over from Barry Wolf as executive partner in January. But the Financial Times reported on Sunday that she had told partners she would not take up the role.

Semafor later reported that Nee had held talks about joining Simpson Thacher, citing people familiar with the matter. The move is not certain and the discussions could still fall apart, the publication said.

Weil pushed back on the reports over the weekend, telling the FT the rumours were “false” and that Nee had not interviewed with any firm and does not have an offer from any firm.

Weil did not immediately respond to a request for comment from Non-Billable on Nee’s current status at the firm.

Merger talks collapse

The leadership uncertainty comes after reported merger talks between Weil and fellow New York firm Willkie collapsed late last week.

The two firms had signed a non-disclosure agreement to explore a potential combination, but talks broke down on Thursday evening, according to Bloomberg Law.

At the same time, Weil has continued to lose senior partners in the US.

The Wall Street Journal reported on Friday that litigation partner Drew Tulumello and securities litigation partner Caroline Zalka, both members of Weil’s management committee, are heading to Davis Polk and Paul Weiss respectively. Corporate co-managing partner Lyuba Goltser is also expected to join Sidley Austin.

The latest reports add to a broader run of departures on both sides of the Atlantic.

In London, recent exits include senior M&A partner Murray Cox, former London co-head David Avery-Gee and finance head Tom Richards.

Simpson Thacher has emerged as a popular destination. Earlier this month, it announced the hire of six Weil partners across New York and London. Cox joined Simpson in August, while Richards is also understood to be moving there.