The City’s legal professional body has said it is on standby to support Weil Gotshal and Manges trainees as the storied US law firm prepares to wind down after 95 years.

Colin Passmore, chairman of the City of London Law Society (CLLS), said: “Our primary concern is everyone at Weil’s office, particularly the trainees and junior lawyers here in London, who will understandably be anxious about what these latest developments mean for their careers.

“As we have demonstrated when others have faced difficulties in the past, the CLLS is steadfast in its support to City law firms and their people, and will look to provide guidance however it can when the need arises,” he added.

The Law Society confirmed it is also looking out for calls from trainees who need support.

“We would encourage all trainees who are seeking further support to get in touch with us,” the Law Society said in a statement.

The professional body added: “We offer a range of support to our members, including pastoral care which can be accessed through the Law Society helpline.”

On Wednesday evening, Weil’s board told partners the 95-year-old firm should be dissolved.

Speculation about the future of the New York-headquartered firm had spread after heavyweight partners left the US and London offices in recent months.

Earlier this month, the firm was reportedly “negotiating a memorandum of understanding” with an unnamed law firm, reportedly its competitor, Willkie Farr & Gallagher. However, those talks fell through.

In a firmwide call on Wednesday, its management committee recommended that the partnership pursue an orderly wind-down of the $2bn firm, which partners are expected to vote on in the coming days.

A spokesperson for the firm said: “During the wind-down process over the coming months, the firm will continue serving clients with the dedication and excellence that have defined it since its founding and will remain committed to supporting its colleagues.”

Weil, which has had a London office since 1996, has around 250 lawyers and about 400 total headcount.

Eyes on the future of the trainees

Aspiring solicitors who secured a trainee contract at Weil, as is market standard, must complete a two-year traineeship before qualifying.

Weil takes on 15 training contracts each year, meaning the firm’s potential closure affects the qualification prospects of two cohorts of future lawyers. Like most City firms, Weil also provides financial sponsorship for trainees through their Solicitors Qualifying Examination (SQE).

A legal recruiter told that trainees at the firm midway through their trainee contracts “are in a bit of a limbo now.”

“This is unprecedented,” they said. “It has been a long time since anyone has seen anything of this scale.”

When Axiom Ince imploded in 2023 over a £64m missing client money scandal, roughly 30 junior trainees were left stranded with their training contracts. Legal bodies such as the City of London Law Society stepped in, with senior managing partners from City firms taking on the juniors so they could complete their training.

In England, if a law firm closes, it must do so in line with Solicitors Regulation Authority (SRA) guidance to protect clients’ interests. The regulator does not step in to help with jobs or trainees at the firm and intervenes only if clients are at risk.