Kirklands gross revenue in 2019 surpassed $4.1 billion. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. We have encountered an error and are unable to process your comment at this time. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. The firm largely halted hiring, anticipating a two-month to two-year slowdown. From left to right: Sophia, Lottie and John Ballis stand in front of the Ballis Tourist Home in the 1940s. 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Try for free at rocketreach.co . Law Offices of Gary Martin Hays & Associates 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. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. 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. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. He liked how private equity clients expected him to solve their problems, rather than just offer advice. Kirklands restructuring practice exploded. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. personalising content and ads, providing social media features and to 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. 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. 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. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. Work. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. Global Practice Guides. 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. Jon Ballis, 49, will succeed Hammes in early 2020, according to a memo sent to all Kirkland employees Dec. 7. "[T]he Kirkland . 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. 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. Copyright 2023 ALM Global, LLC. 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. 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. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). Jon Ballis became Chairman of Kirkland & Ellis in 2020.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 . 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. Navigate to map location for Jon A. Ballis P.C. For its part, Kirkland disputed its attrition in 2021 had grown more than 70% from a year prior, putting it instead at 59%. 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. She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. He wants people like him who relish the hard work. And if you dont want to work together, were not your kind of firm.. P.C. (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. We can destroy everybody else, and lets actually go destroy other people.. He served as chair-elect for a year. 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. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. Its a classic Kirkland move a young up and comer from a major firm. Jon A Ballis is Partner at Kirkland & Ellis LLP. 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. Facebook gives people the power to share and makes the world. Hammes worked hard to break that culture, Kirkland partners said. Site Map, Advertise| The potential hire demurred, telling Ballis she wasnt planning to leave her firm. Kirklands reputation has been around so long, its hard to determine where it even began. Big Law firms rarely admit problems. Some partners at the worlds largest law firm earn more than $20 million a year, according to a former shareholder. Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. 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. The Super Lawyers selection process takes into account peer . You can still enjoy your subscription until the end of your current billing period. Kirkland & Ellis was named an LCLD Top Performer in 2013, 2015, 2016, 2017, 2018, and 2022. 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.. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. Ballis was selected the firms chairman in 2018 by a group of senior partners. Spotlight Guides. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. 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. We have encountered an error and are unable to send your message at this time. Jon A. Ballis P.C. 151 Best Lawyers: Ones to Watch in America awards. 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. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. We support credit card, debit card and PayPal payments. Suite 3200 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. 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 rest have been forced to pay their most important lawyers more money so they wont be plucked away. The American Lawyer has also named Kirkland to its A-List for 10 years running. Jon Ballis, chairman of K&E's executive committee, said in a statement, "Paul and Erin have been valued colleagues. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Please consider subscribing to Crain's. But the worst-case scenario never panned out. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. In making your comments, please do not refer to a pending legal matter. Kirklands restructuring practice exploded. View. Im not surprised at all he ended up being very successful, Gray said of Ballis. Hammes has been chairman of the firm's 15-member Global Management Executive Committee since 2010. 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 . Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Please refresh the page and try again later. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. 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. Ballis was selected the firms chairman in 2018 by a group of senior partners. Click here to get the full experience on your screen. Terms of Service. References to the firm as a pack of wolves in wolves clothing have circulated for decades. Contact Us| Collegiality and everything, talk is cheap, the former partner said. Im not surprised at all he ended up being very successful, Gray said of Ballis. 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. Jon has acted as a guest lecturer for classes and organizations at Harvard Law School, Northwestern University Pritzker School of Law and the University of Chicago Law School. Its a major challenge for a firm that only expects its workload to grow. 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. By September, the firms M&A engine pushed to a new level that continued through last year. Were Goldman Sachs or McKinsey of the law firm world. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. 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. 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. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. Our Team Account subscription service is for legal teams of four or more attorneys. 1-877-812-1590, The Most Powerful Women In Chicago Business. Jon Ballis. 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. Jon A Ballis Kirkland & Ellis19 Years Ranked. (Adds additional reporting in paragraph 14 and Andy Calder quote in paragraph 15. The original version of this story was published on International. Jon Ballis . The American Lawyer has also named Kirkland to its A-List for 10 years running. Your article was successfully shared with the contacts you provided. Details. Why? 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 its part, Kirkland disputed its attrition in 2021 had grown more than 70% from a year prior, putting it instead at 59%. Standard Digital includes access to a wealth of global news, analysis and expert opinion. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Jebejian and Schiele were 43 when they joined Kirkland, while Davis was 34. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. 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. (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. 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. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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 & 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 . Women in Chicago Business successfully shared with the contacts you provided the candi Morris! Partners said in paragraph 15 compiled by the American Lawyer show its average partner $ million... A team at Kirkland & Ellis was named an LCLD Top Performer in 2013, 2015 2016... Well-Respected faculty in the 1940s to right: Sophia, Lottie and John Ballis stand in front of most! Lets actually go destroy other people all he ended up being very successful, Gray said Ballis! Work together, were not your kind of firm.. 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