Weil Gotshal & Manges’ head of European high yield Gil Strauss has become the most recent prominent partner to leave the firm, after several high profile London office exits within the last year, with his decision to re-join Simpson Thacher & Bartlett.
The move to his former firm marks Strauss’ third big move over the last four years having joined Weil’s London office last year as a partner in the European high yield team from Freshfields Bruckhaus Deringer, which he had joined in 2010 from Simpson Thacher.
Strauss specialises in US securities laws and has experience working for both private equity sponsors and underwriters on high yield bond offerings, restructurings, initial public offerings and corporate finance transactions.
Some of his recent deals at Weil include advising lenders to Goldman Sachs Merchant Banking on the acquisition of Flint Group, and representing Aston Martin on its issuance of $165m high yield PIK notes.
The decision to leave Weil comes within months of banking chief Stephen Lucas leaving the firm for Kirkland & Ellis. Other recent departures include corporate partner Mark Soundy’s move to Shearman & Sterling, funds partner Nick Benson’s move to Latham & Watkins in January this year, and tax partner Brenda Coleman who left to join Ropes & Gray’s tax and benefits department.
In March this year, Legal Business unveiled a drop in Weil’s 2013 revenue of 7.4% to $1.14bn from $1.23bn, while PEP was down to $2.07m from $2.23m in 2012.