A 40-strong funds team from Weil, Gotshal & Mange’s London office has been negotiating its move to Gibson Dunn for almost a year, the Gazette understands. This week’s shock decision by Weil’s management board to recommend partners vote to ‘pursue an orderly wind-down’ of the firm simply brought the move forward.

Reporting on the collapse of the $2bn turnover Wall Street firm, where profits per equity partner averaged over $5m, has so far focused on high-profile departures from the New York Office. These included M&A lawyer Michael Aiello, the ‘rainmaker’ partner associated with $110bn of transactions.

But Weil’s problem of retaining lawyers in its leading practices was clearly not just a New York issue whose contagion takes the London office down with it.

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News of its funds team’s move show that about 40 of the firm’s 200 solicitors in the UK already had their exit planned. The team comprises partners James Bromley, James Sargent, Philip Baynes, Fiona Cumming, Aron Joy, Marc Schubert, Sophie Smith and Jacquelyn Volpe. Going with them to Gibson Dunn are around 30 of counsel and associates.

The Solicitors Regulation Authority has said it is monitoring the Weil Gotshal’s closure to ensure it is completed in accordance with the regulator’s rules.

Gibson Dunn expects to make a statement on the moves later today. Weil Gotshal’s London office was approached for comment on UK aspects of the firm’s planned closure.