Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. To view this content, please continue to their sites. You can still enjoy your subscription until the end of your current billing period. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Were like college sports: The players pick us, he said. 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. They service that book of business, and they collect revenues for it, ONeil said. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. And the misconception of who we are is not helpful to our institution.. The firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. Try for free at rocketreach.co . Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. 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. Its very dependent upon who you are. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. 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. 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. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Before Hammes, Kirklands compensation system was dubbed eat-what-you-kill. Lawyers took home shares of the hours they were responsible for generating. We have encountered an error and are unable to process your comment at this time. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. 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. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. This sky-high profitability coupled with the firms merit-based compensation system, which allows them to pay certain rainmakers more than those at a lockstep firm, has proven potent. By September, the firms M&A engine pushed to a new level that continued through last year. 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. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. Don't miss the crucial news and insights you need to make informed legal decisions. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. 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. View. 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. 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. Jon Ballis, who practices law in Chicago, Illinois, was selected to Super Lawyers for 2005, 2008 - 2023. 2023 Leadership Council on Legal Diversity. They were followed by Sean Rodgers from Simpson Thacher in 2013. Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Some partners at the. 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. References to the firm as a pack of wolves in wolves clothing have circulated for decades. Big Law firms are facing a retention crisis and Kirkland is no exception. Its a classic Kirkland move a young up and comer from a major firm. Big Law firms are facing a retention crisis and Kirkland is no exception. 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. Kirklands restructuring practice exploded. Kirkland is a very successful firm, said the source close to Kirkland. 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. Anti-Defamation League, Civic Committee, Commercial Club of Chicago, Economic Club, Illinois Holocaust Museum, Legal Aid Chicago Justice Circle, Vision for Tomorrow Foundation. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Kirkland revenue in 2018, up nearly 20% on 2017. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. The Super Lawyers selection process takes into account peer . By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. Ballis, a member of the firm's 15-lawyer management committee, had been rumored to . 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. I will tell you with full candor, I see tremendous opportunity and upside.. Collegiality and everything, talk is cheap, the former partner said. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. 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. 151 Best Lawyers: Ones to Watch in America awards. License our industry-leading legal content to extend your thought leadership and build your brand. Capital markets lawyers went into overtime helping companies raise debt to survive. Law Tech. New private equity funds formed to take advantage of distressed opportunities. Lawyers profile | USA 2022: Corporate/M&A: Private Equity, Intellectual Property: Trademark, Copyright & Trade Secrets, Litigation: White-Collar Crime & Government Investigations. 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. Jon Ballis is Chairman of Kirkland's Executive Committee. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. 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. 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. 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. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. Click here to get the full experience on your screen. 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. Were Goldman Sachs or McKinsey of the law firm world. Location. Were Goldman Sachs or McKinsey of the law firm world. ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). The latest hire, Lee, graduated Harvard Law School in 2006. The Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. Kirklands reputation has been around so long, its hard to determine where it even began. 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. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. Jon A. Ballis P.C. And thats how I know that this reputational thing is a problem.. Three months later, he learned shed joined a different firm. Position. Log in to access all of your BLAW products. I will tell you with full candor, I see tremendous opportunity and upside.. Hammes has been chairman of the firm's 15-member Global Management Executive Committee since 2010. Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. 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. Collegiality and everything, talk is cheap, the former partner said. (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. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. Its a major challenge for a firm that only expects its workload to grow. Premium access for businesses and educational institutions. He promised them more control over their futures, and doubled or tripled their salaries. He now faces the challenge of driving success while competition for top legal talent is fierce. 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. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. 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. 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. 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. 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. For a full comparison of Standard and Premium Digital, click here. 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. Kirkland & Ellis was named an LCLD Top Performer in 2013, 2015, 2016, 2017, 2018, and 2022. Expert Focus. 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. 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