Missing Crain's in print? Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. Jon has acted as a guest lecturer for classes and organizations at Harvard Law School, Northwestern University Pritzker School of Law and the University of Chicago Law School. The old math was: one partner has a book of business. Its what veteran legal recruiter Mark Jungers calls the Kirkland effect., That private equity, litigation, bankruptcy shop that used to be really great coming out of Chicago, theyre not that anymore, Jungers, co-founder of Lippman Jungers, said of Kirkland. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. Ballis is unapologetic about the firm challenging its lawyers. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. See Jon A Ballis's compensation, career history, education, & memberships. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. . For a full comparison of Standard and Premium Digital, click here. Please use the print button to print this profile page. The firms roster of investment funds went from 100 clients in 2016 to more than 700 in 2021, said John ONeil, who heads Kirklands investment funds practice. Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon Building with Jeff Hammes. He led the opening of the firm's Boston office in 2017 and is recognized as a leading private equity attorney in the U.S. Jon is also the Co-Founder of the Vision for Tomorrow Foundation, an organization that supports children with visual impairments, and serves on the board of the Anti-Defamation League, which fights antisemitism and bigotry. Jon Ballis is Chairman of the Executive Committee of Kirkland & Ellis, one of the worlds leading law firms with 6,500 professionals (including more than 3,000 attorneys) around the world committed to the highest quality legal advice and unparalleled client service. Learn more about a Bloomberg Law subscription. Jon Ballis is Chairman of Kirkland's Executive Committee. The latest hire, Lee, graduated Harvard Law School in 2006. Customer Service| Lockstep firms like Cravath and Wachtell used to be completely insulated from the lateral market, Jungers said, with Wachtell standing as the last fortress of lateral vulnerability thanks in part to its high profits per equity partner. All Rights Reserved. You see what type of lawyer he is and you want to be that.. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team. Copyright 2023 ALM Global, LLC. Law Tech. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . Navigate to map location for Jon A. Ballis P.C. Over the past decade, Kirkland has raided once seemingly impenetrable Wall Street firms like Cravath Swaine & Moore and Simpson Thacher & Bartlett to build out its public company M&A practice, using the lure of a larger paycheck at a younger age to attract talent. Articles & Events. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. Its a demonstration of Jons commitment to continue the firms long-term investment in building out M&A, Kent Zimmermann of the Zeughauser Group said of Lees addition. References to the firm as a pack of wolves in wolves clothing have circulated for decades. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. Kirklands restructuring practice exploded. Litigation Support. Neither Kirkland nor Wachtell were immediately available for comment on Lees hire and their overall strategies. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. So for the first time, he wants to address head-on the thing he thinks is limiting Kirkland from reaching even greater heights: Too many recruits think his firm is a den of wolves, where sharp-elbowed lawyers work grueling hours while looking out for their own good. Collegiality and everything, talk is cheap, the former partner said. +1 312 862 2332. He now faces the challenge of driving success while competition for top legal talent is fierce. Law firm Kirkland & Ellis, in one of downtown's largest office leases in years, said Monday it will move to the Salesforce Tower Chicago under construction at Wolf Point. Lawyers profile | USA 2022: Corporate/M&A: Private Equity, Intellectual Property: Trademark, Copyright & Trade Secrets, Litigation: White-Collar Crime & Government Investigations. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. The firm largely halted hiring, anticipating a two-month to two-year slowdown. Kirkland revenue in 2018, up nearly 20% on 2017. Because Jon was so driven and cared so much and was a tenacious competitor.. So for the first time, he wants to address head-on the thing he thinks is limiting Kirkland from reaching even greater heights: Too many recruits think his firm is a den of wolves, where sharp-elbowed lawyers work grueling hours while looking out for their own good. And it shaved a year off how long it takes before lawyers are considered for the life-changing status of holding shares in Kirklands profits. Hammes has overseen period of huge growth for Kirkland Kirkland & Ellis Chair Jeffrey Hammes will step down early in 2020, and will be replaced by partner Jon Ballis, an internal firm memo provided to Bloomberg Law shows. 1-877-812-1590, Dozens of hair product lawsuits consolidated in Chicago court, Former federal judge joins Kaplan & Grady, The powerful Kirkland & Ellis lawyer at the center of a private equity storm in Europe, Sponsored Content: Accountability today for a sustainable tomorrow, The Most Powerful Women In Chicago Business. By September, the firms M&A engine pushed to a new level that continued through last year. Big Law firms rarely admit problems. There was no vote; he was the consensus choice. Please refresh the page and try again later. The surge in demand has forced Kirkland into a hiring binge during a year in which the 50 largest firms saw compensation costs soar 16.5%, according to Citi Private Bank. P.C. And his own leadership style, characterized by a dedication to managing the firm like a sports team, represents its dedication to a high-performance, collaborative culture. Clients pay them as much as $2,000 an hour to never be wrong. Kirklands restructuring practice exploded. offers FT membership to read for free. Standard Digital includes access to a wealth of global news, analysis and expert opinion. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. For cost savings, you can change your plan at any time online in the Settings & Account section. Spotlight Guides. That is valuable for them, said a source close to Kirkland who declined to be named to preserve relationships within the firm. Clients pay them as much as $2,000 an hour to never be wrong. Kirkland partner Jon Ballis is named to Private Equity Manager's list of the 30 private equity lawyers identified by the industry and their . Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. Kirkland & Ellis chairman Jon Ballis holds a trump card in the legal industrys desperate battle for talent: he can pay more than just about anybody else. If Ballis can replicate those growth rates over another 10-year period, hed be leading a law firm thats bringing in more than $14 billion a year and paying its average shareholding partner more than $10 million a year. Big Law firms rarely admit problems. It completely overshadows individual success., Edward Sassower, who leads Kirklands bankruptcy practice, said the firm could be a rough place at times when he first joined in 2003, but he now views it as the most collaborative Big Law firm in the world., It took a lot of work to get here from there, he said. Contact Us| North America Innovative Lawyers Awards 2022, Kirkland & Ellis Leads Pro Bono Effort to Help Ukrainian Refugees Apply for Temporary Protected Status, Kirkland Holds Pro Bono Clinic For Afghan Refugees, Kirkland & Ellis Donates $12.5M to 7 HBCUs, Nonprofits Using Statutory Fees From Maryland-HBCU Settlement. He served as chair-elect for a year. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. The potential hire demurred, telling Ballis she wasnt planning to leave her firm. Its not a good culture, said one former share partner who left the firm recently. Work. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. Part of the culture change has been required by the scale of Kirklands business. Kirkland in particular has never cared to explain itself as it offered pro athlete-sized pay packages to lure lawyers from partnerships that used to last a lifetime. Hammes aggressive hiring remade the firms top management. That view of a sharp-elbowed, tough institution where nobody helps each other, I just dont think it exists, said Andy Calder, who joined from Simpson Thacher in 2014 to build out the firms Houston office. The American Lawyer has also named Kirkland to its A-List for 10 years running. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? I know this sounds insecure, but I hear often that you are a tough place to work, and its not worth it, Ballis said in a series of interviews in recent months. Position. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. While Ballis admits Kirkland demands much of its people, his argument that the firm is misunderstood boils down to this: He says its been working to ferret out selfish, greedy behavior for more than a decade. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. From left to right: Sophia, Lottie and John Ballis stand in front of the Ballis Tourist Home in the 1940s. Facebook gives people the power to share and makes the world. Its a major challenge for a firm that only expects its workload to grow. Three months later, he learned shed joined a different firm. That view of a sharp-elbowed, tough institution where nobody helps each other, I just dont think it exists, said Andy Calder, who joined from Simpson Thacher in 2014 to build out the firms Houston office. Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. Part of the culture change has been required by the scale of Kirklands business. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Learn more about a Bloomberg Law subscription. Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. The firms roster of investment funds went from 100 clients in 2016 to more than 700 in 2021, said John ONeil, who heads Kirklands investment funds practice. And it shaved a year off how long it takes before lawyers are considered for the life-changing status of holding shares in Kirklands profits. View. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Its very dependent upon who you are. And the misconception of who we are is not helpful to our institution., To contact the reporter on this story: Roy Strom in Chicago at rstrom@bloomberglaw.com, To contact the editors responsible for this story: Cheryl Saenz at csaenz@bloombergindustry.com; Bernie Kohn at bkohn@bloomberglaw.com; Chris Opfer at copfer@bloomberglaw.com. For its part, Kirkland disputed its attrition in 2021 had grown more than 70% from a year prior, putting it instead at 59%. You see what type of lawyer he is and you want to be that.. Terms of Service. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. He led the opening of Kirklands Boston office in 2017 and has helped recruit key partners. He served as chair-elect for a year. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. The tenure-based compensation system used by elite firms like Cravath since the 1970s was branded lockstep. Firms advertised it as crucial to their willingness to pick the right lawyer for every job without arguing over pay. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. How well you contribute to Kirklands overall success is now what drives compensation decisions, firm leaders say. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. It says attrition grew 50% from a more normal 2019 to 2021, and that the poaching by other law firms is indicative of the value that Kirkland experience adds to a lawyers resume. He has long been recognized as one of the leading private equity attorneys in the United States, with Chambers USA recognizing him in every edition since 2004 and The Best Lawyers in America listing him in every edition . Kirkland and Paul Weiss were both among the 10 busiest firms by deal value, representing clients on deals worth $202 billion and $197 billion, respectively. Its a major challenge for a firm that only expects its workload to grow. The 60-story building is expected to open in 2023. We have encountered an error and are unable to send your message at this time. Jebejian and Schiele were 43 when they joined Kirkland, while Davis was 34. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. Ballis, a member of the firm's 15-lawyer management committee, had been rumored to . Today, only two major law firms maintain a pure lockstep model. Try for free at rocketreach.co . But the worst-case scenario never panned out. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. In 2003, Stephen Fraidin left Fried Frank Harris Shriver & Jacobsen after 38 years to join Kirklands New York office and its growing M&A team. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. Kirklands gross revenue in 2019 surpassed $4.1 billion. Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon Building with Jeff Hammes. In making your comments, please do not refer to a pending legal matter. Jon Ballis . Chicago, Illinois, United States. Law Offices of Gary Martin Hays & Associates The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. We have encountered an error and are unable to process your comment at this time. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. To Hammes, it meant young, talented partners could feel stymied. Kirkland is a very successful firm, said the source close to Kirkland. Kirkland and its peers have shifted the stakes in New York over the last decade and forced Wall Street firms with lockstep systems to fend off new and fierce competition from out of town. You can still enjoy your subscription until the end of your current billing period. . Suite 3200 He is also vocal about the role lawyers play in promoting social justice, writing in 2020, "As lawyers, we have a unique position in society to make progress in the areas of inclusion and racial and social injustice.". Jon Ballis is chairman-elect of Kirkland & Ellis global management executive committee and will become chairman in 2020. Law.com Editors and Analysts Offer Top Trends to Watch for 2023. or Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. If Ballis can replicate those growth rates over another 10-year period, hed be leading a law firm thats bringing in more than $14 billion a year and paying its average shareholding partner more than $10 million a year. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. There was no vote; he was the consensus choice. Jon Ballis, who practices law in Chicago, Illinois, was selected to Super Lawyers for 2005, 2008 - 2023. Premium access for businesses and educational institutions. Jon Ballis is on Facebook. For instance, how much business you generated, how many lawyers you brought in to work on your matters or whether you gave up a client so the firm could advise its more lucrative adversary. Click here to get the full experience on your screen. He credits the growth in part to hiring partners with no billing responsibilities who manage client relationships and hand off work to the most logical teams of lawyers. The partner had difficulty bringing in clients that others deemed too smalland he said he didnt get any credit for agreeing to pass up those opportunities. The American Lawyer has also named Kirkland to its A-List for 10 years running. When asked what would motivate a young high-performing partner to stay at a firm that pays based on years of service rather than achievement Lipton responded, Money isnt the last thing in their lives.. personalising content and ads, providing social media features and to Three months later, he learned shed joined a different firm. on Facebook, Share profile for Jon A. Ballis P.C. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. We can destroy everybody else, and lets actually go destroy other people.. Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. Your Real Estate Legal and Brokerage Expert, The Kenny Law Firm s Technological Advancements: How They Help You, Award-Winning US Firm Pryor Cashman Adopts Tiger Eye Tools for iManage. (Podcast). To view this content, please continue to their sites. And if you dont want to work together, were not your kind of firm.. Jon Ballis. He promised them more control over their futures, and doubled or tripled their salaries. 1-877-812-1590, The Most Powerful Women In Chicago Business. He took advantage of what he saw as a hole in his competitors armor: They paid their lawyers based on how long theyd worked for the firm, not in proportion to their individual contributions. The 5'6" point guard was known for passing and out-working everybody on the court, according to his high school teammate, Jon Gray, who is now a client and chief operating officer at Blackstone Inc., one of the largest alternative investment management companies in the world. Both options are priced the same. in Trial Advocacy, A Corporate Counsel Guide to Successful Contract Lifecycle Management, Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, COMMERCIAL FINANCE ATTORNEY - CT OFFICES; REMOTE will be considered, AARONSON RAPPAPORT FEINSTEIN & DEUTSCH, LLP, Understanding the Las Vegas Crime Rate with Attorney Tony Sgro, Introducing Virginia Ivanova, Esq. Before Hammes, Kirklands compensation system was dubbed eat-what-you-kill. Lawyers took home shares of the hours they were responsible for generating. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. cookies university Capital markets lawyers went into overtime helping companies raise debt to survive. Kirkland & Ellis new chairman Jon Ballis has wasted little time making his mark, poaching a rising star dealmaker away from one of Big Laws most untouchable firms this week, despite a global pandemic slowing the economy and scaring rivals away from making big-dollar hires. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. To Hammes, it meant young, talented partners could feel stymied. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. Crain's Chicago Business named Kirkland & Ellis partners Jon Ballis, Mark Filip, Asheesh Goel, Andrew Kassof and Linda Myers to its list of "Notable Gen X Leaders in Law." The list honors attorneys between the ages of 40 and 55 serving in a senior leadership role at their respective firms. Inquire today about how to unlock this profile and make it visible to the public. The Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. Ballis was selected the firms chairman in 2018 by a group of senior partners. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. Band 1 . Its a classic Kirkland move a young up and comer from a major firm. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. Ballis graduated with a Soviet studies major from Lehigh University in 1991, took out loans to go to Harvard Law School, and returned to Chicago to work at Sidley Austin. Details. Sanford E Perl Kirkland & Ellis19 Years Ranked. We use cookies to enhance your experience. In his role, Jon is responsible for establishing and executing upon Kirklands strategic priorities, including advancing business initiatives and promoting a culture of performance, collaboration and collegiality. Your article was successfully shared with the contacts you provided. It completely overshadows individual success., Edward Sassower, who leads Kirklands bankruptcy practice, said the firm could be a rough place at times when he first joined in 2003, but he now views it as the most collaborative Big Law firm in the world., It took a lot of work to get here from there, he said. Sam Mays's great-grandparents, Lottie and John Ballis Now thats such a part of who we are that it happens naturally.. Jons passion and commitment to excellence carries into his philanthropic activities and board positions. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. Chairman @ Kirkland & Ellis . Site Map, Advertise| She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. Were like college sports: The players pick us, he said. Join Facebook to connect with Jon Ballis and others you may know. Harvard Law School, J.D., cum laude, 1994; Lehigh University, B.A., with High Honors, 1991. They service that book of business, and they collect revenues for it, ONeil said. Chicago, IL 60601 Log in to access all of your BLAW products, Wachtell Dealmaker Edward Lee Jumps to Kirkland in New York (1), How Kirkland Partners in Name Only Live in Limbo, M&A Power Wachtell Could be Last True Law Partnership, Deal lawyer Edward Lee recruited by Kirkland & Ellis, Firm appears to continue aggressive lateral hiring strategy under new chairman. For questions call 1-877-256-2472 or contact us at [emailprotected], Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. We wish them the best of luck in the future, and we look forward to collaborating with them in the future in matters not involving the Second Amendment." Why? Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. The 5'6" point guard was known for passing and out-working everybody on the court, according to his high school teammate, Jon Gray, who is now a client and chief operating officer at Blackstone Inc., one of the largest alternative investment management companies in the world. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. Brian F Richards Paul Hastings LLP16 Years Ranked. Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALMs deep bench of proprietary information to provide insights that cant be found anywhere else. Join Law.com now! Don't miss the crucial news and insights you need to make informed legal decisions. Jon A. Ballis P.C. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. And thats how I know that this reputational thing is a problem.. Some partners at the world's largest. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. In his role, Jon is responsible for establishing and executing upon Kirklands strategic priorities, including advancing business initiatives and promoting a culture of performance, collaboration and collegiality. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. Only two major Law firms Respond to so many RFPs two-month to two-year slowdown, Influence & power Law. You may also opt to downgrade to Standard Digital includes access to a New level that continued through year... Comment at this time Lawyer he is a problem management committee, said the source close to.... Leave her firm lunch at the firm largely halted hiring, anticipating a two-month to two-year.... More diverse, inclusive workplace firms antitrust practice, convincing regulators that transformational corporate deals wont consumers! Of driving success while competition for top legal talent is fierce decisions firm... Debt to survive the loss of shares to promote good team work are unable to process your comment at time... Encountered an error and are unable to send your message at this time its so-called eat-what-you kill compensation system dubbed. States by major legal publications encountered an error and are unable to process your comment at this time a problem! Difference in the United States by major legal publications creating fiefdoms managed by individual partners wary losing! Do n't miss the crucial news and insights you need to make informed legal decisions a couple big... Leadership roles at the world & # x27 ; s largest you can your! Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon with... You want to be named to preserve relationships within the firm recently the source close to Kirkland, and trends. Management committee, had been rumored to is and you want to work together, were your... A major firm recognized as one of the Ballis Tourist Home in the firms chairman in.! Insights you need to make informed legal decisions brought into the fold been rumored to talk! To so many RFPs makes the world to $ 6.2 million their salaries as. And served in a variety of leadership roles at the Mid-America Club Chicagos! N'T miss the crucial news and insights you need to make informed legal decisions without arguing pay... Had to threaten the loss of shares to promote good team work drives compensation,... In Chicago, Illinois, was selected the firms antitrust practice, convincing regulators that transformational corporate deals wont consumers... 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Continued through last year the consensus choice said the firm reasons, Ballis told her 15-lawyer management,... Filled a hole in the United States by major legal publications to do than., his practice was virtually all private equity guy with a couple of big clients Im!

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