Tom Borman, LawFuel contributing editor
The battle for top lawyers shows no sign of easing as A&O Shearman’s exodus continues with the firm suffering another senior casualty with global fund finance co-head Fiona Cumming leaving to join Weil Gotshal & Manges in London.
The move gives Weil another heavyweight in one of the fastest-growing areas of legal practice, advising private equity sponsors, lenders and investment funds on increasingly sophisticated financing structures. Weil described fund finance as a strategic growth area, saying Cumming’s arrival would strengthen its expanding cross-border finance practice.
The departure also underlines the competitive pressure facing A&O Shearman. According to Law.com Compass data, the firm has now lost 17 partners during 2026, a figure that will inevitably fuel questions about post-merger integration following the combination of Allen & Overy and Shearman & Sterling.
Weil recently announced it’s new ‘counsel class’ to speed up the ability for senior lawyers to reach partnership in the lucrative firm.
While partner movement is hardly unusual in today’s legal market, the loss of a global practice co-head carries greater significance. Fund finance has become one of the hottest sectors in legal services as private credit continues its rapid expansion, prompting aggressive recruitment by US firms keen to build elite London finance teams.
For Weil, the hire is another statement that it intends to compete aggressively for premium transactional work. For A&O Shearman, it is another reminder that completing a merger is one challenge. Keeping the star players afterwards is another altogether.
The US BigLaw Pull
US firms continue to use deep compensation pools to target high-performing partners from Magic Circle rivals, particularly in private capital, fund finance and restructuring. For A&O Shearman, retaining key talent may prove just as important as delivering the promised benefits of its landmark merger.
