He wants people like him who relish the hard work. Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. Ballis is unapologetic about the firm challenging its lawyers. Chicago, IL 60601 Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. The latest hire, Lee, graduated Harvard Law School in 2006. Jon Ballis is chairman-elect of Kirkland & Ellis global management executive committee and will become chairman in 2020. Jon Ballis is Chairman of Kirklands Executive Committee. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. 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. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. Still, many in the legal industry laugh at the idea that Kirkland has quietly changed its style. Collegiality and everything, talk is cheap, the former partner said. Hes someone who makes you want to run through walls and he does it by earning it, David Hutchins, a former Kirkland lawyer whos now a client at Bain Capital, said of Ballis. 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. We use Because Jon was so driven and cared so much and was a tenacious competitor.. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Jon Ballis is Chairman of Kirkland's Executive Committee. That conversation happens often. This is not in the playbook of how to run this law firm, he remembers thinking. 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. But he wants them to believe that at Kirkland theyll be doing it with a group of people who play well together. Chicago, Illinois, United States. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Some partners at the world's largest law firm earn more than $20 million a year, according to a former shareholder. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. Expert Focus. Law Tech. 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. High-quality journalism isn't free. How Kirkland Partners in Name Only Live in Limbo, Kirkland & Ellis hard-charging culture dubbed wolves in wolves clothing, Chairman wants to soften that image as firms battle for talent. . Rivals bemoan the Kirklandization of law, painting the firm and the lawyers it hires as mercenaries. Theyve always said theyre continuing to invest in it and this is putting their money where their mouth is.. Jon A. Ballis P.C. 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. (Bloomberg) 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. Please consider subscribing to Crain's. E-mail oureditor Big Law firms rarely admit problems. 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 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. 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 . 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. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Its not a good culture, said one former share partner who left the firm recently. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. But theres good reason to believe the firm did even better in 2021, considering that it set a record for activity levels in its M&A practice, according to data compiled by Bloomberg. Law Offices of Gary Martin Hays & Associates 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. 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. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? 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. 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. Kirkland, along with some other out-of-town firms like Sidley Austin and Latham & Watkins, has used aggressive lateral recruiting to draw from New Yorks dealmaking talent pool. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. Taiwan Will Give Tourists Perks Worth $165 Each to Boost Economy. 1. Its a classic Kirkland move a young up and comer from a major firm. There is an arrogance that were the best. Big Law firms are facing a retention crisis and Kirkland is no exception. We have encountered an error and are unable to process your comment at this time. New private equity funds formed to take advantage of distressed opportunities. 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.". Still,many in the legal industry laugh at the idea that Kirkland has quietly changed its style. https://www.law.com/2018/12/07/kirkland-ellis-names-new-chairman-to-replace-jeffrey-hammes/. Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. 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. 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. When he departed from the role, at least six of the firms global management committee members joined Kirkland from rival firms. 2010 - 2023 Best Lawyers All Rights Reserved. Inquire today about how to unlock this profile and make it visible to the public. He wants people like him who relish the hard work. See Jon A Ballis's compensation, career history, education, & memberships. Click here to get the full experience on your screen. 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. Kirklands reputation has been around so long, its hard to determine where it even began. Jon Ballis, chairman of K&E's executive committee, said in a statement, "Paul and Erin have been valued colleagues. Click below to see everything we have to offer. Chicago
Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Kirklands restructuring practice exploded. 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. Jon Ballis is on Facebook. He led the opening of Kirklands Boston office in 2017 and has helped recruit key partners. E-mail oureditor Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. All Rights Reserved. at https://www.kirkland.com/lawyers/b/ballis-jon-a-pc, Share profile for Jon A. Ballis P.C. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. There was no vote; he was the consensus choice. 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He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. 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 . Now thats such a part of who we are that it happens naturally.. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. Today, only two major law firms maintain a pure lockstep model. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. Learn more about a Bloomberg Law subscription. 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. Since joining Kirkland in 2005, Ballis practice has focused on leveraged buyouts of public and private companies as well as strategic mergers and acquisitions. - Chicago, IL - Lawyer | Best Lawyers Recognized since 2006 Chicago, Illinois Practice Areas Leveraged Buyouts and Private Equity Law Mergers and Acquisitions Law Biography Overview Firm Details Awards & Practice News & Media Publications Illinois 2023 Home Log In Begin Nomination Lawyers Methodology Insights Publications About Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. offers FT membership to read for free. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. For its part, Kirkland disputed its attrition in 2021 had grown more than 70% from a year prior, putting it instead at 59%. Click here to get the full experience on your screen. Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms financials, staffing, clients, news and events. Because Jon was so driven and cared so much and was a tenacious competitor.. 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. Listen to Roy Strom read his story. Join Facebook to connect with Jon Ballis and others you may know. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Jon Ballis is chairman-elect of Kirkland & Ellis' global management executive committee and will become chairman in 2020. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. and other data for a number of reasons, such as keeping FT Sites reliable and secure, The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! Capital markets lawyers went into overtime helping companies raise debt to survive. Please refresh the page and try again later. Before Hammes, Kirklands compensation system was dubbed eat-what-you-kill. Lawyers took home shares of the hours they were responsible for generating. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. Clients pay them as much as $2,000 an hour to never be wrong. Litigation Support. Today, only two major law firms maintain a pure lockstep model. They took home more than $5m on average last year $2tn Private. Rival firm leaders had questioned whether he would continue Kirklands aggressive hiring strategy. 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. 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. 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.. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. Kirkland partner Jon Ballis is named to Private Equity Manager's list of the 30 private equity lawyers identified by the industry and their . But early in the pandemic, lockdowns and closed courtrooms threatened to make that kind of growth an impossibility. Kirkland has discovered they can hire very good, younger lawyers from other firms who work out as very good lawyers on Kirkland matters. 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. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. He has acted as a guest lecturer at Harvard Law School, Northwestern University Law School and the University of Chicago Law School. He now faces the challenge of driving success while competition for top legal talent is fierce. LexisNexis and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. Three months later, he learned shed joined a different firm. The old math was: one partner has a book of business. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. Ballis, a member of the firm's 15-lawyer management committee, had been rumored to . Harvard Law School, J.D., cum laude, 1994; Lehigh University, B.A., with High Honors, 1991. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. Don't miss the crucial news and insights you need to make informed legal decisions. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. 2, with equity partners making an average of $5.2 million. 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. 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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. The Super Lawyers selection process takes into account peer . Ballis was selected the firms chairman in 2018 by a group of senior partners. 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. Its not a good culture, said one former share partner who left the firm recently. The 1.2 million-square-foot. You may change or cancel your subscription or trial at any time online. 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. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. 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. Working at Wachtell, a firm founded in 1965 on a handshake,"still pays handsomely. High Net Worth. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. 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. Are Kirkland & Ellis New Partners Ready for Squid Game 2.0? And thats how I know that this reputational thing is a problem.. The American Lawyer has also named Kirkland to its A-List for 10 years running. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. 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. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. 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. Partners recently see everything we have to offer diverse, inclusive workplace its A-List 10. Fiefdoms managed by individual partners wary of losing money by sharing clients industry... Before Hammes, Kirklands compensation system used by elite firms like Cravath since the 1970s was branded.... 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