One of BigLaw’s biggest rainmakers just walked.
Michael Aiello, Weil Gotshal’s highest-paid and top revenue-generating partner, is leaving for Cravath with five colleagues.
He was reportedly making more than $20 million a year and oversaw a team of more than 600 people.
The move is getting attention because it says a lot about where BigLaw is headed:
Increasingly aggressive lateral recruiting, enormous compensation packages, and firms competing harder for the lawyers who control major client relationships.
For anyone watching the business of law, this one is worth a look.
-The Legal Brief