Rival firm leaders had questioned whether he would continue Kirklands aggressive hiring strategy. "[T]he Kirkland . Kirklands restructuring practice exploded. Simply log into Settings & Account and select "Cancel" on the right-hand side. Jon Ballis, who practices law in Chicago, Illinois, was selected to Super Lawyers for 2005, 2008 - 2023. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. The firm also provides training, mentoring, and leadership opportunities for diverse attorneys through its Diversity Leadership Series. 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. Law Tech. I will tell you with full candor, I see tremendous opportunity and upside.. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. 151 Best Lawyers: Ones to Watch in America awards. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. Location. organisation There is an arrogance that were the best. Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. Kirklands gross revenue in 2019 surpassed $4.1 billion. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Ballis was selected the firms chairman in 2018 by a group of senior partners. Kirkland & Ellis' new chairman Jon Ballis has wasted little time making his mark, poaching a rising star dealmaker away from one of Big Law's most untouchable firms this week, despite a global pandemic slowing the economy and scaring rivals away from making big-dollar hires. When he departed from the role, at least six of the firms global management committee members joined Kirkland from rival firms. 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. 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. Your article was successfully shared with the contacts you provided. USA: Regional Spotlight. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. 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. 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. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. 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. 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. Its not a good culture, said one former share partner who left the firm recently. Its a major challenge for a firm that only expects its workload to grow. Were like college sports: The players pick us, he said. Kirklands restructuring practice exploded. 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. But he wants them to believe that at Kirkland theyll be doing it with a group of people who play well together. Contact Us| Three months later, he learned shed joined a different firm. Details. As a high school senior, Ballis captained the Highland Park High School basketball team to a 1-23 record. That conversation happens often. But the worst-case scenario never panned out. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. High-quality journalism isn't free. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? The firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Jon Ballis is Chairman of Kirkland's Executive Committee. But he wants them to believe that at Kirkland theyll be doing it with a group of people who play well together. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. Ballis is unapologetic about the firm challenging its lawyers. 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. Jon Ballis is Chairman of the Executive Committee of Kirkland & Ellis, one of the world's 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. 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. The firm largely halted hiring, anticipating a two-month to two-year slowdown. 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. Big Law firms rarely admit problems. High Net Worth. Commitment to these priorities has helped Kirkland deepen its practice area expertise, extend its worldwide reach and earn industry recognition for workplace culture, including placements on the prestigious Notable Diverse Leaders in Law, Notable Leaders in Sustainability, and Best Law Firms for Women lists. View. Chicago, IL 60601 The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. And thats how I know that this reputational thing is a problem.. Missing Crain's in print? Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. 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 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. 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. P.C. Jon Ballis's email address j*****@kirkland.com 312560.. | Show email & phone number >>> Rocketreach finds email, phone & social media for 450M+ professionals. Jon Ballis . The potential hire demurred, telling Ballis she wasnt planning to leave her firm. 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. Bloomberg Markets Americas. 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. Learn more about a Bloomberg Law subscription. Aug 30, 2021 Kirkland & Ellis, Chicago's largest law firm, announced Monday it is moving its Chicago office to a new 60-story building currently under construction. . In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. Deal activity in the first half of the year hit $2.5 trillion, more than double the $1.2 trillion announced in the first half of 2020, according to data compiled by Bloomberg. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. Today, only two major law firms maintain a pure lockstep model. 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 . Law.com Editors and Analysts Offer Top Trends to Watch for 2023. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland 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. 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. 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. 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. He liked how private equity clients expected him to solve their problems, rather than just offer advice. 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. Jon Ballis is chairman-elect of Kirkland & Ellis global management executive committee and will become chairman in 2020. Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. Work. 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. Morning Docket Morning Docket: 12.12.18 . Theyve always said theyre continuing to invest in it and this is putting their money where their mouth is.. offers FT membership to read for free. And if you dont want to work together, were not your kind of firm.. Jon Ballis is Chairman of Kirkland's Executive Committee. Chairman, Kirkland & Ellis LLP. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. He served as chair-elect for a year. 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. They were followed by Sean Rodgers from Simpson Thacher in 2013. Try for free at rocketreach.co . Kirkland partner Jon Ballis is named to Private Equity Manager's list of the 30 private equity lawyers identified by the industry and their . By September, the firms M&A engine pushed to a new level that continued through last year. Working at Wachtell, a firm founded in 1965 on a handshake,"still pays handsomely. Please refresh the page and try again later. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. We use 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. 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. The original version of this story was published on International. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. The American Lawyer has also named Kirkland to its A-List for 10 years running. The Super Lawyers selection process takes into account peer . Because Jon was so driven and cared so much and was a tenacious competitor.. They service that book of business, and they collect revenues for it, ONeil said. analyse how our Sites are used. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Were Goldman Sachs or McKinsey of the law firm world. 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. Listen to Roy Strom read his story. Ballis is unapologetic about the firm challenging its lawyers. Collegiality and everything, talk is cheap, the former partner said. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. Ballis was selected the firms chairman in 2018 by a group of senior partners. 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. He now faces the challenge of driving success while competition for top legal talent is fierce. Capital markets lawyers went into overtime helping companies raise debt to survive. VIDEO: Big Laws Big Paychecks: Partner Compensation, Explained. The firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. 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. Navigate to map location for Jon A. Ballis P.C. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. 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. (Courtesy photos) Kirkland & Ellis Names New Chairman to Replace Jeffrey Hammes Jon Ballis, a Chicago-based corporate partner who has become one of Kirkland's best-known private equity. And the misconception of who we are is not helpful to our institution.. She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. Compare Standard and Premium Digital here. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . 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. Now thats such a part of who we are that it happens naturally.. He led the opening of Kirklands Boston office in 2017 and has helped recruit key partners. 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. You see what type of lawyer he is and you want to be that.. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. He wants people like him who relish the hard work. 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 . 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. We can destroy everybody else, and lets actually go destroy other people.. You see what type of lawyer he is and you want to be that.. 130 E. Randolph St. From left to right: Sophia, Lottie and John Ballis stand in front of the Ballis Tourist Home in the 1940s. 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. But many in Big Law have observed that the bonds that hold clients and lawyers to law firms arent the same as they used to be. . There was no vote; he was the consensus choice. 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. There is an arrogance that were the best. 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. E-mail oureditor 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. Some partners at the. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. By visiting our website or transacting with us, you agree to this. Check if your Jon Ballis. We have encountered an error and are unable to send your message at this time. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Kirkland has discovered they can hire very good, younger lawyers from other firms who work out as very good lawyers on Kirkland matters. 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. Its very dependent upon who you are. 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. Before Hammes, Kirklands compensation system was dubbed eat-what-you-kill. Lawyers took home shares of the hours they were responsible for generating. 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. Hammes worked hard to break that culture, Kirkland partners said. Jon Ballis is chairman-elect of Kirkland & Ellis' global management executive committee and will become chairman in 2020. Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. 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. Jon Ballis, 49, will succeed Hammes in early 2020, according to a memo sent to all Kirkland employees Dec. 7. We can destroy everybody else, and lets actually go destroy other people.. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. 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. The Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. 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. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. +1 312-862-2332 jon.ballis@kirkland.com View profile. But the worst-case scenario never panned out. Because Jon was so driven and cared so much and was a tenacious competitor.. 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. Join Law.com now! Click here to get the full experience on your screen. Im not surprised at all he ended up being very successful, Gray said of Ballis. Part of the culture change has been required by the scale of Kirklands business. Up-and-coming Cravath partner Sarkis Jebejian, whose client list includes Accenture, Bain Capital and Northrop Grumman, joined Kirkland in 2012, followed by Jonathan Davis in 2016 and Eric Schiele in 2018. Jon A. Ballis of Kirkland & Ellis is a Who's Who in Chicago Business 2023 for Crain's Chicago Business. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. 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. The 1.2 million-square-foot. Please use the print button to print this profile page. 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. References to the firm as a pack of wolves in wolves clothing have circulated for decades. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. Our Team Account subscription service is for legal teams of four or more attorneys. The old math was: one partner has a book of business. Site Map, Advertise| You can still enjoy your subscription until the end of your current billing period. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Today, only two major law firms maintain a pure lockstep model. https://www.law.com/2018/12/07/kirkland-ellis-names-new-chairman-to-replace-jeffrey-hammes/. See Jon A Ballis's compensation, career history, education, & memberships. Lawyers profile | USA 2022: Corporate/M&A: Private Equity, Intellectual Property: Trademark, Copyright & Trade Secrets, Litigation: White-Collar Crime & Government Investigations. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. In 2009, the firm poached one of Skaddens then-highest-paid partners, David Fox, along with Daniel Wolf, who made partner at Skadden at age 30. 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. We have encountered an error and are unable to process your comment at this time. That is valuable for them, said a source close to Kirkland who declined to be named to preserve relationships within the firm. 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. 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. To view this content, please continue to their sites. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. 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. Spotlight Guides. Suite 3200 Click below to see everything we have to offer. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. Its a major challenge for a firm that only expects its workload to grow. 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. 7 Reasons to Get Your LL.M. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. * Kirkland & Ellis will have a new leader soon, but that doesn't mean the firm's lateral hiring spree will end. New private equity funds formed to take advantage of distressed opportunities. Kirkland & Ellis was named an LCLD Top Performer in 2013, 2015, 2016, 2017, 2018, and 2022. Click below to see everything we have to offer. Anti-Defamation League, Civic Committee, Commercial Club of Chicago, Economic Club, Illinois Holocaust Museum, Legal Aid Chicago Justice Circle, Vision for Tomorrow Foundation. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. Chicago Customer Service| Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? The Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. 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