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When Weil, Gotshal & Manges announced plans to wind down last week, the collapse of the 95-year-old law firm stunned the legal industry. Weil had roughly 1,200 lawyers, more than $2 billion in annual revenue, and a roster of major corporate clients. Yet the exit of a handful of powerful partners triggered a wave of resignations that ultimately pushed the firm toward dissolution.<\/p>\n
At Weil, one of those performers was Michael Aiello, the firm\u2019s highest-paid partner and a leading dealmaker who reportedly earned more than $20 million annually. Aiello oversaw a corporate practice of more than 600 people and maintained a close relationship with longtime leader Barry Wolf. When he left for rival Cravath in September, taking five partners with him, the departures helped unleash a broader wave of defections.<\/p>\n
Weil\u2019s predicament illustrates the vulnerability of businesses built around individuals whose commercial value gives them extraordinary leverage. Star performers attract clients, generate revenue, and recruit other talented people. But when those relationships and capabilities remain concentrated in a few hands, the company becomes increasingly exposed if they leave.<\/p>\n
The same risk can exist at investment banks, where a rainmaker controls relationships with major clients; at consulting firms, where senior partners bring in much of the business; and at technology companies, where a founder or influential executive becomes synonymous with the organization\u2019s success. Even within smaller divisions and functions, teams can become overly dependent on a single high performer whose departure leaves a gap in expertise, relationships, or leadership that others aren\u2019t prepared to fill.<\/p>\n
For leaders at every level, the challenge is capturing the benefits of exceptional talent while ensuring their teams and businesses can withstand losing it. That means expanding client relationships across teams, building a deeper bench of people who can generate business, and distributing knowledge and decision-making authority.<\/p>\n
For ambitious professionals, the episode raises a related question. How much of one\u2019s career\u2019s value depends on the continued success or the support of one influential leader? The lesson may be to build two kinds of career capital simultaneously: One is the value created within an organization, and the other is the value one can carry elsewhere.<\/p>\n
Ruth Umoh
ruth.umoh@fortune.com<\/p>\n
Smarter in seconds<\/p>\n
More mileage. Cisco\u2019s CMO has to generate more revenue on the same budget. Here\u2019s where she\u2019s placing her bets<\/p>\n
Grandma knows. Goldman Sachs CEO David Solomon says the best advice he ever got came from his grandmother in his 20s: \u2018Don\u2019t be in a hurry\u2019<\/p>\n
Beach? Please. Meet Wizz Air\u2019s CEO\u2014his father was jailed under Soviet rule. Now, he\u2019s on $4.4 million a year and would \u2018rather keep building than sit on a beach\u2019<\/p>\n
Leadership lesson<\/p>\n
Workday\u2019s CEO on why AI may favor doers over delegators: \u201cIf you\u2019re a doer and an individual contributor, you\u2019re going to be fine … because you\u2019re doing real work on the front lines.\u201d<\/p>\n
News to know<\/p>\n
As Trump weighs renewed strikes on Iran after the midterms, Tehran is threatening retaliation beyond the Middle East, including attacks on financial assets. Fortune<\/p>\n
Stellantis says AI helped its engineers develop a hands-free driving system for a Jeep in just six weeks, a job that previously could have taken up to 18 months. Fortune<\/p>\n
Wendy\u2019s is losing ground in America\u2019s burger wars, making it a $1.4 billion takeover target for Nelson Peltz\u2019s Trian Fund Management\u2014less than 1% of McDonald\u2019s market value. Fortune<\/p>\n
China and Russia have hypersonic missiles capable of traveling at five times the speed of sound, while the U.S. has struggled to deploy its own despite billions spent on development. Fortune<\/p>\n
Economists say California could raise more revenue by adopting Texas-style property taxes than through its proposed 5% billionaire wealth tax. Fortune<\/p>\n
AI is getting better at building smarter versions of itself, and the accelerating pace has even the world\u2019s top AI experts alarmed. WSJ<\/p>\n
A year into his mayoralty, Zohran Mamdani has pushed affordability reforms, but his sweeping economic agenda is advancing more slowly than promised. BI<\/p>\n
Companies are turning to women to help fill a growing shortage of skilled tradespeople, opening doors in traditionally male-dominated industries. WSJ<\/p>\n
Fortune Daily breaks the traditional barrier between audience and newsroom. The show transforms Fortune\u2019s trusted reporting into actionable, conversational, and entertaining insights for an emerging class of business leaders. Watch here.
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#Weil #Gotshals #collapse #highlights #risk #building #business #star #talent<\/p>\n","protected":false},"excerpt":{"rendered":"
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