Hundreds of London jobs are set to be put at risk as Wall Street firm Weil Gotshal prepares for potential wind-down after partner exodus

Weil, Gotshal & Manges, the $2.1bn Wall Street giant that guided Lehman Brothers and Enron through collapse, is now steering its own — with a partnership vote on an "orderly wind-down" expected within days. Around 50 partners, 200 solicitors and 120 business services staff at its Fetter Lane London office, open since 1996, will face redundancy if the vote passes. A former partner called it "probably the worst succession planning in legal history."

Merger talks with Willkie Farr & Gallagher, which would have created a $4bn-revenue giant, collapsed last week, sealing the firm's fate.

Incoming executive partner Ramona Nee then refused the top job, leaving the 95-year-old firm without leadership at its moment of crisis.

Corporate chair Michael Aiello had already fled to Cravath in September, taking five partners with him from a department of 600 lawyers — the departure that triggered the final avalanche.