Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. 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. 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. (Adds additional reporting in paragraph 14 and Andy Calder quote in paragraph 15. About; Map. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. That makes Ballis task all the more difficult. The firm also provides training, mentoring, and leadership opportunities for diverse attorneys through its Diversity Leadership Series. Try for free at rocketreach.co . 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. Chicago, IL 60601 Morning Docket Morning Docket: 12.12.18 . Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. (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. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. 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. 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. 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. Rivals bemoan the Kirklandization of law, painting the firm and the lawyers it hires as mercenaries. Three months later, he learned shed joined a different firm. He served as chair-elect for a year. Premium access for businesses and educational institutions. This is not in the playbook of how to run this law firm, he remembers thinking. We support credit card, debit card and PayPal payments. E-mail oureditor Big Law firms rarely admit problems. You can still enjoy your subscription until the end of your current billing period. Jon Ballis's email address j*****@kirkland.com 312560.. | Show email & phone number >>> Rocketreach finds email, phone & social media for 450M+ professionals. Its not a good culture, said one former share partner who left the firm recently. 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. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. Big Law firms are facing a retention crisis and Kirkland is no exception. Hammes worked hard to break that culture, Kirkland partners said. Jon Ballis, 49, will succeed Hammes in early 2020, according to a memo sent to all Kirkland employees Dec. 7. Facebook gives people the power to share and makes the world. 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. Were like college sports: The players pick us, he said. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Collegiality and everything, talk is cheap, the former partner said. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? And the misconception of who we are is not helpful to our institution.. Its a major challenge for a firm that only expects its workload to grow. 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. 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. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . Contact Us| The 60-story building is expected to open in 2023. 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. VIDEO: Big Laws Big Paychecks: Partner Compensation, Explained. Anti-Defamation League, Civic Committee, Commercial Club of Chicago, Economic Club, Illinois Holocaust Museum, Legal Aid Chicago Justice Circle, Vision for Tomorrow Foundation. He led the opening of Kirklands Boston office in 2017 and has helped recruit key partners. All those hires had been made under Kirklands former chairman, Jeffrey Hammes, a former private equity dealmaker considered a bold leader willing to cut big checks. (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. To Hammes, it meant young, talented partners could feel stymied. Articles & Events. Hammes aggressive hiring remade the firms top management. Jon Ballis . Global Practice Guides. Chairman @ Kirkland & Ellis . 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. 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. Kirkland has discovered they can hire very good, younger lawyers from other firms who work out as very good lawyers on Kirkland matters. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. Im not surprised at all he ended up being very successful, Gray said of Ballis. 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. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. * Kirkland & Ellis will have a new leader soon, but that doesn't mean the firm's lateral hiring spree will end. Copyright 2023 ALM Global, LLC. 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 . Taiwan Will Give Tourists Perks Worth $165 Each to Boost Economy. They service that book of business, and they collect revenues for it, ONeil said. Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon Building with Jeff Hammes. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Before Hammes, Kirklands compensation system was dubbed eat-what-you-kill. Lawyers took home shares of the hours they were responsible for generating. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. Terms of Service. 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. Now thats such a part of who we are that it happens naturally.. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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. The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! Its very dependent upon who you are. 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. I hate the term book of business.. The potential hire demurred, telling Ballis she wasnt planning to leave her firm. You see what type of lawyer he is and you want to be that.. Jon Ballis, a Chicago-based corporate partner who has become one of Kirkland's best-known private equity lawyers, will take over as leader of the world's highest-grossing firm in 2020. The original version of this story was published on International. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. Please consider subscribing to Crain's. - 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 Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. 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. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. The old math was: one partner has a book of business. 130 E. Randolph St. 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. As a high school senior, Ballis captained the Highland Park High School basketball team to a 1-23 record. analyse how our Sites are used. That conversation happens often. Part of the culture change has been required by the scale of Kirklands business. (Podcast). 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. Chicago, IL 60601 cookies 1. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. Jon Ballis. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. See Jon A Ballis's compensation, career history, education, & memberships. 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. But the worst-case scenario never panned out. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. Capital markets lawyers went into overtime helping companies raise debt to survive. For a full comparison of Standard and Premium Digital, click here. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. Compare Standard and Premium Digital here. 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. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. The potential hire demurred, telling Ballis she wasnt planning to leave her firm. To Hammes, it meant young, talented partners could feel stymied. 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. Ballis was selected the firms chairman in 2018 by a group of senior partners. He served as chair-elect for a year. He now faces the challenge of driving success while competition for top legal talent is fierce. 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. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. 130 E. Randolph St. 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. Work. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. 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. 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. (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. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. 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. 2, with equity partners making an average of $5.2 million. 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. 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. Ballis was selected the firms chairman in 2018 by a group of senior partners. Neither Kirkland nor Wachtell were immediately available for comment on Lees hire and their overall strategies. Not a Bloomberg Law Subscriber?Subscribe Now. or 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. 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. This peer designation is awarded only to a select number of accomplished attorneys in each state. There was no vote; he was the consensus choice. 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 industrys desperate battle for talent: he can pay more than just about anybody else. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. 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. The American Lawyer has also named Kirkland to its A-List for 10 years running. High-quality journalism isn't free. Three months later, he learned shed joined a different firm. Jon Ballis, chairman of K&E's executive committee, said in a statement, "Paul and Erin have been valued colleagues. Still, many in the legal industry laugh at the idea that Kirkland has quietly changed its style. 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. Jon Ballis is Chairman of Kirkland's Executive Committee. How well you contribute to Kirklands overall success is now what drives compensation decisions, firm leaders say. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Big Law firms are facing a retention crisis and Kirkland is no exception. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. 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. Are Kirkland & Ellis New Partners Ready for Squid Game 2.0? 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. university 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. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. Recognized in The Best Lawyers in America 2023 for work in: Your browser is not fully compatible with our automatic printer friendly formatting. The firm largely halted hiring, anticipating a two-month to two-year slowdown. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. Now thats such a part of who we are that it happens naturally.. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. The Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. 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. Log in to access all of your BLAW products. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. Brian F Richards Paul Hastings LLP16 Years Ranked. 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. Spotlight Guides. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. Part of its reputation, is a mischaracterization, he remembers thinking Staff! Number of accomplished attorneys in Each state lawyers in America 2023 for work done by they. Credit for work done by clients they brought into the fold bundles are curated by CLE and! Year ending in March months later, he says consensus choice math was: one partner has branding! & Newest partners Hammes in early 2020, Ballis remembers, he learned shed a... 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