Culture. It sounds soft and fluffy, but in Weil’s case it has brought a $2bn, profitable business to its knees and delivered a stark warning to the rest of the legal market.
Because if a firm the size of Weil, with profit per equity partner of more than $5m, can effectively reach the point of no return as quickly as this, what hope is there for anyone else not currently playing in the same small global elite league as Kirkland, Latham, Simpson Thacher and a handful of others?
