Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. Jon Ballis is Chairman of Kirkland's Executive Committee. I hate the term book of business.. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. "[T]he Kirkland . Three months later, he learned shed joined a different firm. The important partners there, and even some of the partners who arent so important, make more than partners at any other law firm in the world, including Wachtell., Lockstep firms traditionally have relied on a strong cohesive culture and financials, believing clients belong to the firm and not to individuals. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. And the misconception of who we are is not helpful to our institution.. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. The American Lawyer has also named Kirkland to its A-List for 10 years running. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. Suite 3200 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. He now faces the challenge of driving success while competition for top legal talent is fierce. When he departed from the role, at least six of the firms global management committee members joined Kirkland from rival firms. To view this content, please continue to their sites. Candidates should Duane Morris LLP has an opening for Litigation Associate with 2-3 years of experience to join its Trial Practice Group in Houston. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. Jon Ballis is one of the young stars of the Kirkland & Ellis buyouts practice, and a standout player for private equity firms doing deals in America's third largest city of Chicago, centre of the . Premium access for businesses and educational institutions. The Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. Contact Us| Hammes has been chairman of the firm's 15-member Global Management Executive Committee since 2010. According to a 2018 profile of founding partner Martin Lipton, Wachtell has followed a set of principles including limiting attorney growth per year and avoiding recruitment from competitors. They were followed by Sean Rodgers from Simpson Thacher in 2013. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. I will tell you with full candor, I see tremendous opportunity and upside.. 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. High Net Worth. Visit the website for Jon A. Ballis P.C. 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. Today, only two major law firms maintain a pure lockstep model. Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. Join Law.com now! 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. Standard Digital includes access to a wealth of global news, analysis and expert opinion. They service that book of business, and they collect revenues for it, ONeil said. We have encountered an error and are unable to send your message at this time. (Bloomberg) 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. LinkedIn is the world's largest business network, helping professionals like Jon A. Ballis discover inside connections to recommended job candidates, industry experts, and business partners. Clients are incentivized to spread their work around, Jungers said, so if partners think they can take work with them and firms like Kirkland are willing to pay them millions more, theres a real question of whether culture will keep them from moving. To Hammes, it meant young, talented partners could feel stymied. The latest hire, Lee, graduated Harvard Law School in 2006. VIDEO: Big Laws Big Paychecks: Partner Compensation, Explained. And if you dont want to work together, were not your kind of firm.. Try for free at rocketreach.co . 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. He wants people like him who relish the hard work. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. 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.". Chairman, Kirkland & Ellis LLP. Its not a good culture, said one former share partner who left the firm recently. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. 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. Jon Ballisbecame Chairman of Kirkland & Ellis in 2020. Inquire today about how to unlock this profile and make it visible to the public. Rival firm leaders had questioned whether he would continue Kirklands aggressive hiring strategy. Big Law firms rarely admit problems. New private equity funds formed to take advantage of distressed opportunities. This looks very much like Kirkland being Kirklandcoronavirus or no coronavirustheyre staying true to form, said Janet Stanton, a partner at law firm management consultancy Adam Smith Esq. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. 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. Ballis, who became chair in January, is a lateral hire himself, joining from Sidley Austin in 2005. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. (Podcast). About Us| In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. How well you contribute to Kirklands overall success is now what drives compensation decisions, firm leaders say. 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. Check if your Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. 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. Are Kirkland & Ellis New Partners Ready for Squid Game 2.0? Spotlight Guides. Jons passion and commitment to excellence carries into his philanthropic activities and board positions. Now thats such a part of who we are that it happens naturally.. Over his 30-year career, he has been recognized as one of the leading private equity M&A attorneys in the United States and has represented many of the worlds leading private equity firms. Its a major challenge for a firm that only expects its workload to grow. Customer Service| Some partners at the. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . The American Lawyer has also named Kirkland to its A-List for 10 years running. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. Three months later, he learned shed joined a different firm. 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. We use You see what type of lawyer he is and you want to be that.. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. That conversation happens often. About; Map. In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. 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. Big Law firms are facing a retention crisis and Kirkland is no exception. Join Facebook to connect with Jon Ballis and others you may know. Its a major challenge for a firm that only expects its workload to grow. 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. 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. During his career, Jon has handled matters on behalf of many of the leading private equity firms in the country, including Bain, Blackstone, Centerbridge, Cerberus, Hellman & Friedman, KKR, Madison Dearborn, Pritzker Group, Silver Lake, TPG, and Thomas H. Lee. He has acted as a guest lecturer at Harvard Law School, Northwestern University Law School and the University of Chicago Law School. Capital markets lawyers went into overtime helping companies raise debt to survive. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. Im not surprised at all he ended up being very successful, Gray said of Ballis. I will tell you with full candor, I see tremendous opportunity and upside.. Law Tech. Kirklands reputation has been around so long, its hard to determine where it even began. Clients pay them as much as $2,000 an hour to never be wrong. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. He served as chair-elect for a year. All Rights Reserved. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. By September, the firms M&A engine pushed to a new level that continued through last year. Sam Mays's great-grandparents, Lottie and John Ballis Private Equity Manager named him one of the top 10 private equity lawyers in the country and The Legal 500 U.S. selected Jon as one of only 10 private equity lawyers for its elite Leading Lawyers list. Still, many in the legal industry laugh at the idea that Kirkland has quietly changed its style. Because Jon was so driven and cared so much and was a tenacious competitor.. on Twitter, Navigate to map location for Kirkland & Ellis LLP, Call Kirkland & Ellis LLP at 312-862-2000, Visit the website for Kirkland & Ellis LLP, https://www.kirkland.com/lawyers/b/ballis-jon-a-pc. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. But now, Ballis finds that dangling eight-figure paychecks and the allure of doing billions of dollars worth of deals for private equity heavyweights like Bain Capital doesnt always cut it. Not a Bloomberg Law Subscriber?Subscribe Now. The old math was: one partner has a book of business. 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. Jon Ballis. Jon Ballis became Chairman of Kirkland & Ellis in 2020.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 . 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. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. But he wants them to believe that at Kirkland theyll be doing it with a group of people who play well together. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. But early in the pandemic, lockdowns and closed courtrooms threatened to make that kind of growth an impossibility. 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. There is an arrogance that were the best. 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.. How well you contribute to Kirklands overall success is now what drives compensation decisions, firm leaders say. Bloomberg Markets Americas. Capital markets lawyers went into overtime helping companies raise debt to survive. 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. And if you dont want to work together, were not your kind of firm.. For its part, Kirkland disputed its attrition in 2021 had grown more than 70% from a year prior, putting it instead at 59%. Bloomberg Markets live from New York, focused on bringing you the most important global business and breaking markets news and information as it happens. Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Don't miss the crucial news and insights you need to make informed legal decisions. We can destroy everybody else, and lets actually go destroy other people.. Kirkland & Ellis LLP's longtime chairman Jeffrey Hammes will retire in early 2020 and will be replaced by Jon Ballis, a Chicago-based private equity partner and member of the firm's . Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. This is not in the playbook of how to run this law firm, he remembers thinking. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. Since that hire, Kirkland has often focused on filling its roster with 30-and 40-something lawyers who are eager to build their own practice rather than wait in line under a lockstep regime. 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. 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. Jon A Ballis is Partner at Kirkland & Ellis LLP. Kirkland partner Jon Ballis is named to Private Equity Manager's list of the 30 private equity lawyers identified by the industry and their . 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. Articles & Events. He wants people like him who relish the hard work. Fellows ProgramFellows nominated:2022: Eric White; 2021: Shaun Mathew; 2020:Paul Tanaka; 2019: Luke Guerra; 2018: Erin Johnston; 2017: Joseph A. Loy; 2016: William Joseph Benitez; 2015: Atif Khawaja; 2014: Jeanne M. Heffernan; 2013:Barack S. Echols; 2012: Diana M. Torres;2011:Elizabeth L. Deeley, Pathfinder ProgramPathfinders selected:2022: Keli Huang,Danielle O'Neal;2021: Yimeng Dou, Eduardo Leal; 2020: East Berhane, Erika Lopez; 2019: Andrew Ohlert, Angel Torres; 2018: Beth Dalmut, Tushin Shah; 2017: Alexia Renee Brancato, Jonathan K. Tshiamala;2016: Tracie L. Bryant, Aparna Yenamandra; 2015: Vikas Didwania, Maggie Flores, 1L LCLD Scholars ProgramScholars hosted:2022:Victoria Rackley,Jasmeene Burton-Martin,Daniel Walker,Anthony Aguirre,Christopher Washington,Yasmeen Shrestha,Andrew Lin,Sonya Mattis,Hafzat Akanni,Kenneth Coleman,Cristian Pleters-Escobar;2021: Khash Goshtasbi, Jeffrey Cole, Lydia Seifeselassie, Jack Tubio, Jennifer Liu, Luv Karia, Nia Vogel, Daisy Almonte; 2020: Danielle Solaru, Eduardo Morera, Isabella Bergonzoli Jaramillo, Ashton Dubey, Naomi Duru, Matthew Guiang; 2019: Kiana Outen, Tamara Chin Loy, BreYanna Prince, Austin Fregene, Courtney Bibbs; 2018: Katelynn Adams, Princess Daisy Akita; 2017: Tina Chao, Eric Hwang,Malika Moore,Sahel Sra;2016: Claudia Diaz-Alemany, Suiwen Liang, Heather Lui, Yvette Sokei; 2014: Sarahi Constantine Padilla; 2013: Esther Lukman, Chautney McMillian, Success in Law School Mentoring ProgramMentors provided: 2021, 2020, 2019, 2017, 2016, 2015, 2014, 2013, 2012, AttendanceAnnual Meeting (2018, 2017, 2016, 2015), Communications: Ashley Post, Kate Slaasted. 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