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. Kirkland partner Jon Ballis is named to Private Equity Manager's list of the 30 private equity lawyers identified by the industry and their . Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. 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. 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. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . Jon A Ballis is Partner at Kirkland & Ellis LLP. Law Offices of Gary Martin Hays & Associates Over the past decade, Kirkland has raided once seemingly impenetrable Wall Street firms like Cravath Swaine & Moore and Simpson Thacher & Bartlett to build out its public company M&A practice, using the lure of a larger paycheck at a younger age to attract talent. 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. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. 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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. 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. 7 Reasons to Get Your LL.M. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. 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. By September, the firms M&A engine pushed to a new level that continued through last year. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. Jon Ballis is on Facebook. Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. 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. The old math was: one partner has a book of business. 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. Since joining Kirkland in 2005, Ballis' practice has focused on. High Net Worth. 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. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. 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. The firm largely halted hiring, anticipating a two-month to two-year slowdown. Law Tech. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. Big Law firms rarely admit problems. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. 2. 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. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. 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. That makes Ballis task all the more difficult. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. Its a major challenge for a firm that only expects its workload to grow. 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. Collegiality and everything, talk is cheap, the former partner said. "[T]he Kirkland . Kirkland is a very successful firm, said the source close to Kirkland. 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. ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). 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. Jon Ballis is Chairman of Kirkland's Executive Committee. 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. Missing Crain's in print? Rivals bemoan the Kirklandization of law, painting the firm and the lawyers it hires as mercenaries. Chairman, Kirkland & Ellis LLP. We can destroy everybody else, and lets actually go destroy other people.. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. Jons passion and commitment to excellence carries into his philanthropic activities and board positions. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. Ballis was selected the firms chairman in 2018 by a group of senior 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. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. 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. Some partners at the world's largest. organisation 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. on LinkedIn, Share profile for Jon A. Ballis P.C. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. 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. And the misconception of who we are is not helpful to our institution.. To Hammes, it meant young, talented partners could feel stymied. Work. 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.". Its a classic Kirkland move a young up and comer from a major firm. Some partners at the worlds largest law firm earn more than $20 million a year, according to a former shareholder. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. Neither Kirkland nor Wachtell were immediately available for comment on Lees hire and their overall strategies. We have encountered an error and are unable to process your comment at this time. You see what type of lawyer he is and you want to be that.. 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. 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. We use 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. Today, only two major law firms maintain a pure lockstep model. 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. Details. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. He has advised leading private-equity firms throughout his career, including Bain Capital, Madison Dearborn and Pritzker Private Capital. This is not in the playbook of how to run this law firm, he remembers thinking. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. Theyve always said theyre continuing to invest in it and this is putting their money where their mouth is.. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. He served as chair-elect for a year. 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. 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, * Kirkland & Ellis will have a new leader soon, but that doesn't mean the firm's lateral hiring spree will end. (Podcast). 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. . Hiring Edward Lee from Wachtell Lipton Rosen & Katz sent a clear signal to the industry that the Chicago-founded firm poses a threat to even the most venerable white-shoe firms and their lockstep pay structures that set compensation based on seniority. 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. . 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. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. Use my voice at the Firm to address DEI issues and expand opportunities for those attorneys who have been historically underrepresented in the legal industry, including people of color, women and members of the LGBTQ+ community . Jon Ballis. 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Spotlight Guides. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. They took home more than $5m on average last year $2tn Private. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. He promised them more control over their futures, and doubled or tripled their salaries. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. Please consider subscribing to Crain's. . 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. As a high school senior on Chicagos north side, Ballis captained the Highland Park High School basketball team to a 1-23 record. She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. Jon Ballis is chairman of the firm. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Expert Focus. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. Working at Wachtell, a firm founded in 1965 on a handshake,"still pays handsomely. Clients describe Jon as a go-to guy in the marketplace, a lawyer with stellar legal judgement, and someone with the ability to take a big picture, strategic perspective on transactions.. Litigation Support. 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. References to the firm as a pack of wolves in wolves clothing have circulated for decades. A pure lockstep model ; Phone Number Chairman @ Kirkland & # x27 ; s Executive Committee largest law earn! Said it didnt ring true that Kirkland had quietly transformed into a collaborators dream carries! It fostered internal competition, Kirkland partners said, creating fiefdoms managed individual... Handshake, '' still pays handsomely for working on precedent-setting, game-changing projects initiatives! Ellis 68 days before the pandemic was declared a book of business one of the private. To Kirkland well versed in representing private equity work, and he found routinely! Some partners at the worlds largest law firm earn more than 400 associates in 2021, according the. 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