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. 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. Ballis is unapologetic about the firm challenging its 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. Details. 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 since 2006. He has advised leading private-equity firms throughout his career, including Bain Capital, Madison Dearborn and Pritzker Private Capital. Kirkland did not disclose how much space it is leasing, but industry sources believe it is about 600,000 square feet. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. 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. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. Jon Ballis is Chairman of Kirkland's Executive Committee. Copyright 2023 ALM Global, LLC. 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. Neither Kirkland nor Wachtell were immediately available for comment on Lees hire and their overall strategies. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . Jon Ballisbecame Chairman of Kirkland & Ellis in 2020. Now thats such a part of who we are that it happens naturally.. 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. 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. 2023 Leadership Council on Legal Diversity. Ballis is a founder and director of the Vision for Tomorrow Foundation and serves on the boards of the Anti-Defamation League and the Illinois Holocaust Museum & Education Center. You see what type of lawyer he is and you want to be that.. Hammes aggressive hiring remade the firms top management. Clients describe Jon as a go-to guy in the marketplace, a lawyer with stellar legal judgement, and someone with the ability to take a big picture, strategic perspective on transactions.. 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. This is not in the playbook of how to run this law firm, he remembers thinking. Kirklands gross revenue in 2019 surpassed $4.1 billion. For its part, Kirkland disputed its attrition in 2021 had grown more than 70% from a year prior, putting it instead at 59%. Kirklands reputation has been around so long, its hard to determine where it even began. But Kirkland was No. Its not a good culture, said one former share partner who left the firm recently. on LinkedIn, Share profile for Jon A. Ballis P.C. Check if your ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). 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. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. 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. Our Team Account subscription service is for legal teams of four or more attorneys. 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 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. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. The potential hire demurred, telling Ballis she wasnt planning to leave her firm. 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. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. 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 firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. Don't miss the crucial news and insights you need to make informed legal decisions. Were Goldman Sachs or McKinsey of the law firm world. Customer Service| She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. 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. Location. 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. From 2009 to 2019, the firms revenue increased 11.5% per year on average while its profits per equity partner rose 7.6%, the American Lawyer reported. High-quality journalism isn't free. Hammes led the firm from 2009 to 2019, and is credited with orchestrating Kirklands rise to the top by cutting huge checks to lure up-and-coming partners from the most prominent Wall Street firms. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. Not a Bloomberg Law Subscriber?Subscribe Now. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. The original version of this story was published on International. The 60-story building is expected to open in 2023. The Super Lawyers selection process takes into account peer . But he wants them to believe that at Kirkland theyll be doing it with a group of people who play well together. Kirklands restructuring practice exploded. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. 151 Best Lawyers: Ones to Watch in America awards. Missing Crain's in print? For a full comparison of Standard and Premium Digital, click here. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. Ballis was selected the firms chairman in 2018 by a group of senior partners. As a high school senior, Ballis captained the Highland Park High School basketball team to a 1-23 record. Some partners at the. . Access to additional free ALM publications, 1 free article* across the ALM subscription network every 30 days, Exclusive discounts on ALM events and publications, Brought to you by Temple University Beasley School of Law. 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. 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 . Three months later, he learned shed joined a different firm. Global Practice Guides. +1 312 862 2332. Capital markets lawyers went into overtime helping companies raise debt to survive. Kirkland has discovered they can hire very good, younger lawyers from other firms who work out as very good lawyers on Kirkland matters. The latest hire, Lee, graduated Harvard Law School in 2006. Listen to Roy Strom read his story. Im not surprised at all he ended up being very successful, Gray said of Ballis. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Terms of Service. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. We have encountered an error and are unable to send your message at this time. Big Law firms rarely admit problems. 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. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. Ballis, who became chair in January, is a lateral hire himself, joining from Sidley Austin in 2005. 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. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. Visit the website for Jon A. Ballis 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. From 2009 to 2019, the firms revenue increased 11.5% per year on average while its profits per equity partner rose 7.6%, the American Lawyer reported. Chicago, Illinois, United States. Expert Focus. 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. Thats roughly four times the number the firm hired in 2020, even as two-thirds of the associates it lost last year departed to rival firms, according to a Bloomberg Law analysis of LinkedIn profiles. Because Jon was so driven and cared so much and was a tenacious competitor.. The firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. He promised them more control over their futures, and doubled or tripled their salaries. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. Jon Ballis, 49, will succeed Hammes in early 2020, according to a memo sent to all Kirkland employees Dec. 7. The firm largely halted hiring, anticipating a two-month to two-year slowdown. Hammes led the firm from 2009 to 2019, and is credited with orchestrating Kirklands rise to the top by cutting huge checks to lure up-and-coming partners from the most prominent Wall Street firms. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? Jon A. Ballis P.C. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. Ballis rallied more than half a dozen partners Kirkland hired from other firms who said the culture theyd been warned about just didnt meet their reality at the firm. Kirkland & Ellis chairman Jon Ballis holds a trump card in the legal industry's desperate battle for talent: he can pay more than just about anybody else. 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. Inquire today about how to unlock this profile and make it visible to the public. Harvard Law School, J.D., cum laude, 1994; Lehigh University, B.A., with High Honors, 1991. The American Lawyer has also named Kirkland to its A-List for 10 years running. He promised them more control over their futures, and doubled or tripled their salaries. 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. https://www.law.com/2018/12/07/kirkland-ellis-names-new-chairman-to-replace-jeffrey-hammes/. Kirkland is a very successful firm, said the source close to Kirkland. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. And if you dont want to work together, were not your kind of firm.. Click below to see everything we have to offer. More than 325 of its associates left in 2021up more than 70% from 2020, according to data from Leopard Solutions and a Bloomberg Law analysis of LinkedIn profiles. 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. 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. That makes Ballis task all the more difficult. In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. Much and was a tenacious competitor was virtually all private equity work, and doubled tripled. Firms will be asking their lawyers to work less jon Ballisbecame Chairman of Kirkland & Ellis 2020. Them more control over their futures, and doubled or tripled their salaries.. Hammes aggressive hiring remade firms. He promised them more control over their futures, and he found routinely! 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