I hate the term book of business.. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. 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. Litigation Support. 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. Customer Service| We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. Learn more about a Bloomberg Law subscription. Kirklands restructuring practice exploded. 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. 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. 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. Jon A Ballis is Partner at Kirkland & Ellis LLP. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. There was no vote; he was the consensus choice. I know this sounds insecure, but I hear often that you are a tough place to work, and its not worth it, Ballis said in a series of interviews in recent months. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. But early in the pandemic, lockdowns and closed courtrooms threatened to make that kind of growth an impossibility. You see what type of lawyer he is and you want to be that.. Its not a good culture, said one former share partner who left the firm recently. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. He is a member of Chicagos Civic Committee, the Commercial Club of Chicago, the Economic Club and Legal Aid Chicago's Justice Circle. Were Goldman Sachs or McKinsey of the law firm world. 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. at https://www.kirkland.com/lawyers/b/ballis-jon-a-pc, Share profile for Jon A. Ballis P.C. This peer designation is awarded only to a select number of accomplished attorneys in each state. 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.. We can destroy everybody else, and lets actually go destroy other people.. https://www.law.com/2018/12/07/kirkland-ellis-names-new-chairman-to-replace-jeffrey-hammes/. Copyright 2023 ALM Global, LLC. It fostered internal competition, Kirkland partners said, creating fiefdoms managed by individual partners wary of losing money by sharing clients. 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. Collegiality and everything, talk is cheap, the former partner said. 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. 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. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. 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. 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. 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. Hammes has been chairman of the firm's 15-member Global Management Executive Committee since 2010. Because Jon was so driven and cared so much and was a tenacious competitor.. Some partners at the worlds largest law firm earn more than $20 million a year, according to a former shareholder. 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. Please refresh the page and try again later. 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. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. 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. Visit the website for Jon A. Ballis P.C. Since joining Kirkland in 2005, Ballis' practice has focused on. Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. 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. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). 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. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. Collegiality and everything, talk is cheap, the former partner said. That makes Ballis task all the more difficult. Ballis, a member of the firm's 15-lawyer management committee, had been rumored to . As a high school senior on Chicagos north side, Ballis captained the Highland Park High School basketball team to a 1-23 record. Jon Ballis is Chairman of Kirklands Executive Committee. P.C. You may change or cancel your subscription or trial at any time online. Its very dependent upon who you are. 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. We have a system that demands a lot from people, gives them a lot of responsibility, and requires people to work together, Ballis said. Were like college sports: The players pick us, he said. E-mail oureditor Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. And thats how I know that this reputational thing is a problem.. 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. Your article was successfully shared with the contacts you provided. 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 . Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. 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. That is valuable for them, said a source close to Kirkland who declined to be named to preserve relationships within the firm. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. To Hammes, it meant young, talented partners could feel stymied. Click below to see everything we have to offer. The firm largely halted hiring, anticipating a two-month to two-year slowdown. Articles. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. He wants people like him who relish the hard work. 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. References to the firm as a pack of wolves in wolves clothing have circulated for decades. Expert Focus. But early in the pandemic, lockdowns and closed courtrooms threatened to make that kind of growth an impossibility. As a high school senior, Ballis captained the Highland Park High School basketball team to a 1-23 record. 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. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. Not a Bloomberg Law Subscriber?Subscribe Now. Morning Docket Morning Docket: 12.12.18 . Join Facebook to connect with Jon Ballis and others you may know. Deal activity in the first half of the year hit $2.5 trillion, more than double the $1.2 trillion announced in the first half of 2020, according to data compiled by Bloomberg. Join Law.com now! Kirkland has discovered they can hire very good, younger lawyers from other firms who work out as very good lawyers on Kirkland matters. Click here to get the full experience on your screen. About; Map. Work. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. He wants people like him who relish the hard work. 151 Best Lawyers: Ones to Watch in America awards. But Kirkland was No. I will tell you with full candor, I see tremendous opportunity and upside.. Clients pay them as much as $2,000 an hour to never be wrong. 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. 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. . Premium access for businesses and educational institutions. Are Kirkland & Ellis New Partners Ready for Squid Game 2.0? 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. Jons passion and commitment to excellence carries into his philanthropic activities and board positions. All Rights Reserved. He now faces the challenge of driving success while competition for top legal talent is fierce. (Adds additional reporting in paragraph 14 and Andy Calder quote in paragraph 15. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. The old math was: one partner has a book of business. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. They service that book of business, and they collect revenues for it, ONeil said. Spotlight Guides. The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. offers FT membership to read for free. Navigate to map location for Jon A. Ballis P.C. Im not surprised at all he ended up being very successful, Gray said of Ballis. 2, with equity partners making an average of $5.2 million. Since joining Kirkland in 2005, Ballis practice has focused on leveraged buyouts of public and private companies as well as strategic mergers and acquisitions. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. Soon after he became kirklands chairman in 2020, Ballis captained the Highland Park high school basketball team to former... Firm has taken steps to become a more diverse partner classes internally, she said good, younger lawyers other! Watch in America awards passion and Commitment to excellence carries into his philanthropic activities and positions... Ready for Squid Game 2.0 closed courtrooms threatened to make that kind growth! 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