Still,many in the legal industry laugh at the idea that Kirkland has quietly changed its style. The candi Duane Morris LLP has an opening in its Houston office for a corporate associate to join its growing practice. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. Law Offices of Gary Martin Hays & Associates 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. Ballis was selected the firms chairman in 2018 by a group of senior partners. Ballis, who became chair in January, is a lateral hire himself, joining from Sidley Austin in 2005. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. Since joining Kirkland in 2005, Ballis practice has focused on leveraged buyouts of public and private companies as well as strategic mergers and acquisitions. Theyve always said theyre continuing to invest in it and this is putting their money where their mouth is.. Recognized in The Best Lawyers in America 2023 for work in: Your browser is not fully compatible with our automatic printer friendly formatting. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. 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. Jon Ballis is one of the young stars of the Kirkland & Ellis buyouts practice, and a standout player for private equity firms doing deals in America's third largest city of Chicago, centre of the . Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. Your article was successfully shared with the contacts you provided. 1. See Jon A Ballis's compensation, career history, education, & memberships. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. Kirkland & Ellis was named an LCLD Top Performer in 2013, 2015, 2016, 2017, 2018, and 2022. 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.. Terms of Service. We have encountered an error and are unable to send your message at this time. on LinkedIn, Share profile for Jon A. Ballis P.C. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. on Facebook, Share profile for Jon A. Ballis P.C. To Hammes, it meant young, talented partners could feel stymied. Kirklands reputation has been around so long, its hard to determine where it even began. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. Location. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. All Rights Reserved. Jon Ballis is chairman-elect of Kirkland & Ellis global management executive committee and will become chairman in 2020. Jon Ballis, who practices law in Chicago, Illinois, was selected to Super Lawyers for 2005, 2008 - 2023. Expert Focus. Bloomberg Markets Americas. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. 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. Crain's Chicago Business named Kirkland & Ellis partners Jon Ballis, Mark Filip, Asheesh Goel, Andrew Kassof and Linda Myers to its list of "Notable Gen X Leaders in Law." The list honors attorneys between the ages of 40 and 55 serving in a senior leadership role at their respective firms. Brian F Richards Paul Hastings LLP16 Years Ranked. And if you dont want to work together, were not your kind of firm.. Ballis is unapologetic about the firm challenging its lawyers. 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. Rivals bemoan the Kirklandization of law, painting the firm and the lawyers it hires as mercenaries. 2. Its very dependent upon who you are. 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. But Ballis is making a statement in going after Kirklands first prominent hire from Wachtell, a New York firm known for its M&A prowess that rarely, if ever, loses its partners to rivals. Jon Ballis is chairman of the firm. He led the opening of Kirklands Boston office in 2017 and has helped recruit key partners. Work. 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. Copyright 2023 ALM Global, LLC. 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. 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. This is not in the playbook of how to run this law firm, he remembers thinking. cookies 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. Some partners at the world's largest. Im not surprised at all he ended up being very successful, Gray said of Ballis. 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. But the worst-case scenario never panned out. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. 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. Jon Ballisbecame Chairman of Kirkland & Ellis in 2020. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. Jon A. Ballis took charge at Kirkland & Ellis 68 days before the pandemic was declared. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. That conversation happens often. Were like college sports: The players pick us, he said. We can destroy everybody else, and lets actually go destroy other people.. Jon Ballis is Chairman of Kirklands Executive Committee. 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. The 60-story building is expected to open in 2023. 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. Big Law firms are facing a retention crisis and Kirkland is no exception. Part of the culture change has been required by the scale of Kirklands business. 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. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Kirklands restructuring practice exploded. 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. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. 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. That conversation happens often. New private equity funds formed to take advantage of distressed opportunities. Suite 3200 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. 2010 - 2023 Best Lawyers All Rights Reserved. To view this content, please continue to their sites. It works with more than 450 private equity firms 430 Kirkland's equity partners. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. Chicago, IL 60601 All Rights Reserved. Please refresh the page and try again later. 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. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. Harvard Law School, J.D., cum laude, 1994; Lehigh University, B.A., with High Honors, 1991. 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. That is valuable for them, said a source close to Kirkland who declined to be named to preserve relationships within the firm. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. 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. Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. 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. Learn more about a Bloomberg Law subscription. He has advised leading private-equity firms throughout his career, including Bain Capital, Madison Dearborn and Pritzker Private Capital. While pandemic loomed, Kirkland & Ellis boomed, Kirkland & Ellis inks massive Salesforce Tower lease, Kirkland, Winston face pushback on arbitration agreements, Target and Solo Cup are opening huge warehouses in the southwest suburbs, Widow of Richard Duchossois selling Inverness home, Four ways to get Michael Jordan's mansion sold at last, State Farm posts record $6.7 billion loss as inflation takes a toll, Walgreens Boots Alliance plans partial HQ sale. 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. 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. He served as chair-elect for a year. Log in to access all of your BLAW products. That makes Ballis task all the more difficult. 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. By September, the firms M&A engine pushed to a new level that continued through last year. He currently serves on the Boards of Directors of the Illinois Holocaust Museum & Education Center, the Anti-Defamation League, and the Vision for Tomorrow Foundation, an organization he co-founded in 2006 to focus on visual impairment in children. 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. Before Hammes, Kirklands compensation system was dubbed eat-what-you-kill. Lawyers took home shares of the hours they were responsible for generating. 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. They were followed by Sean Rodgers from Simpson Thacher in 2013. Click here to get the full experience on your screen. They service that book of business, and they collect revenues for it, ONeil said. 1-877-812-1590, The Most Powerful Women In Chicago Business. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. Inquire today about how to unlock this profile and make it visible to the public. offers FT membership to read for free. 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. Its a major challenge for a firm that only expects its workload to grow. He now faces the challenge of driving success while competition for top legal talent is fierce. 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. 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. In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. The American Lawyer has also named Kirkland to its A-List for 10 years running. Sanford E Perl Kirkland & Ellis19 Years Ranked. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. Jon A Ballis is Partner at Kirkland & Ellis LLP. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. 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 . References to the firm as a pack of wolves in wolves clothing have circulated for decades. And if you dont want to work together, were not your kind of firm.. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. High-quality journalism isn't free. Click below to see everything we have to offer. Facebook gives people the power to share and makes the world. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. The American Lawyer has also named Kirkland to its A-List for 10 years running. 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