Were Goldman Sachs or McKinsey of the law firm world. By 2005, his practice was virtually all private equity work, and he found himself routinely across the table from Kirkland lawyers. 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. 2. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. 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. Chicago Join Facebook to connect with Jon Ballis and others you may know. 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. I hate the term book of business.. Chicago, IL 60601 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. P.C. That conversation happens often. I hate the term book of business.. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. Part of the culture change has been required by the scale of Kirklands business. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. Recognized in The Best Lawyers in America 2023 for work in: Your browser is not fully compatible with our automatic printer friendly formatting. Some partners at the world's largest. 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. From left to right: Sophia, Lottie and John Ballis stand in front of the Ballis Tourist Home in the 1940s. In those early days, Jeff sometimes had to threaten the loss of shares to promote good team work. Join Law.com now! Kirkland did not disclose how much space it is leasing, but industry sources believe it is about 600,000 square feet. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. . Jon Ballisbecame Chairman of Kirkland & Ellis in 2020. Kirklands reputation has been around so long, its hard to determine where it even began. 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Its a major challenge for a firm that only expects its workload to grow. Like many large firms, though, it declined to provide diversity statistics of its recent partnership classes. +1 312 862 2332. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is not in the playbook of how to run this law firm, he remembers thinking. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. Jon Ballis is chairman of the firm. She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. Harvard Law School, J.D., cum laude, 1994; Lehigh University, B.A., with High Honors, 1991. Details. Jon Ballis is Chairman of Kirkland's Executive Committee. 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. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. He wants people like him who relish the hard work. Capital markets lawyers went into overtime helping companies raise debt to survive. 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. High-quality journalism isn't free. Jons passion and commitment to excellence carries into his philanthropic activities and board positions. About Us| Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. Jon A. Ballis of Kirkland & Ellis is a Who's Who in Chicago Business 2023 for Crain's Chicago Business. They took home more than $5m on average last year $2tn Private. There is an arrogance that were the best. Jon Ballis's Email & Phone Number Chairman @ Kirkland & Ellis LLP. He led the opening of Kirklands Boston office in 2017 and has helped recruit key partners. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. Some partners at the. 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. But he wants them to believe that at Kirkland theyll be doing it with a group of people who play well together. Kirkland revenue in 2018, up nearly 20% on 2017. Lawyers profile | USA 2022: Corporate/M&A: Private Equity, Intellectual Property: Trademark, Copyright & Trade Secrets, Litigation: White-Collar Crime & Government Investigations. The old math was: one partner has a book of business. 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. Live from New York, is focused on bringing you the most important global business and breaking markets news and information as it happens. You see what type of lawyer he is and you want to be that.. 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. To Hammes, it meant young, talented partners could feel stymied. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. (Adds additional reporting in paragraph 14 and Andy Calder quote in paragraph 15. Aaronson Rappaport Feinstein & Deutsch, LLP Is Pleased To Announce Patrick P. Mevs & Daniel W. Milstein Have Become Members Of The Firm. 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. Chairman, Kirkland & Ellis LLP. Terms of Service. The firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. The 60-story building is expected to open in 2023. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. Jon Ballis's email address j*****@kirkland.com 312560.. | Show email & phone number >>> Rocketreach finds email, phone & social media for 450M+ professionals. Facebook gives people the power to share and makes the world. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. By September, the firms M&A engine pushed to a new level that continued through last year. 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, which fights antisemitism and bigotry. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. Working at Wachtell, a firm founded in 1965 on a handshake,"still pays handsomely. 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. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. VIDEO: Big Laws Big Paychecks: Partner Compensation, Explained. Jon Ballis is Chairman of the Executive Committee of Kirkland & Ellis, one of the world's 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. We use cookies to enhance your experience. 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. He liked how private equity clients expected him to solve their problems, rather than just offer advice. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. 1. Still, many in the legal industry laugh at the idea that Kirkland has quietly changed its style. 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. 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. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. 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. Kirkland & Ellis LLP 300 North LaSalle Chicago, IL 60654 . There was no vote; he was the consensus choice. When he departed from the role, at least six of the firms global management committee members joined Kirkland from rival firms. Its very dependent upon who you are. Three months later, he learned shed joined a different firm. Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon Building with Jeff Hammes. USA: Regional Spotlight. on LinkedIn, Share profile for Jon A. Ballis P.C. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Partners at the firm took home $6.3 million on average in 2019, more than any other U.S. firm, according to the latest AmLaw rankings. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. (Podcast). 7 Reasons to Get Your LL.M. Collegiality and everything, talk is cheap, the former partner said. - Chicago, IL - Lawyer | Best Lawyers Recognized since 2006 Chicago, Illinois Practice Areas Leveraged Buyouts and Private Equity Law Mergers and Acquisitions Law Biography Overview Firm Details Awards & Practice News & Media Publications Illinois 2023 Home Log In Begin Nomination Lawyers Methodology Insights Publications About 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. 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. But early in the pandemic, lockdowns and closed courtrooms threatened to make that kind of growth an impossibility. 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. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. 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. (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 are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. We can destroy everybody else, and lets actually go destroy other people.. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. 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. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. 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. They were followed by Sean Rodgers from Simpson Thacher in 2013. License our industry-leading legal content to extend your thought leadership and build your brand. Hammes worked hard to break that culture, Kirkland partners said. Customer Service| Rivals bemoan the Kirklandization of law, painting the firm and the lawyers it hires as mercenaries. Big Law firms rarely admit problems. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. 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 . Some partners at the world's largest law firm earn more than $20 million a year, according to a former shareholder. We use 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. Both options are priced the same. I will tell you with full candor, I see tremendous opportunity and upside.. He promised them more control over their futures, and doubled or tripled their salaries. They service that book of business, and they collect revenues for it, ONeil said. One former share partner said it didnt ring true that Kirkland had quietly transformed into a collaborators dream. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. 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. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. 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. Taiwan Will Give Tourists Perks Worth $165 Each to Boost Economy. Kirklands leaders also said the firm has taken steps to become a more diverse, inclusive workplace. As a high school senior on Chicagos north side, Ballis captained the Highland Park High School basketball team to a 1-23 record. 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. You can still enjoy your subscription until the end of your current billing period. Some partners at the worlds largest law firm earn more than $20 million a year, according to a former shareholder. 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.. Kirkland opened offices in Austin, Texas, and Salt Lake City, Utah, just to access people in places where they were already living. The latest hire, Lee, graduated Harvard Law School in 2006. Sam Mays's great-grandparents, Lottie and John Ballis Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. He served as chair-elect for a year. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. 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. 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. Theyve always said theyre continuing to invest in it and this is putting their money where their mouth is.. 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 . Its not irrational to think, Oh my goodness how are we going to do better than this? Ballis said. Global Practice Guides. 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. Were like college sports: The players pick us, he said. And if you dont want to work together, were not your kind of firm.. The firm also provides training, mentoring, and leadership opportunities for diverse attorneys through its Diversity Leadership Series. Big Law firms rarely admit problems. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. +1 312-862-2332 jon.ballis@kirkland.com View profile. ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). E-mail oureditor Jon Ballis. Clients pay them as much as $2,000 an hour to never be wrong. Kirkland is a very successful firm, said the source close to Kirkland. 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. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. The potential hire demurred, telling Ballis she wasnt planning to leave her firm. 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.". Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. Check if your 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. Neither Kirkland nor Wachtell were immediately available for comment on Lees hire and their overall strategies. Its a demonstration of Jons commitment to continue the firms long-term investment in building out M&A, Kent Zimmermann of the Zeughauser Group said of Lees addition. 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. There is an arrogance that were the best. Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. Jon Ballis . All those hires had been made under Kirklands former chairman, Jeffrey Hammes, a former private equity dealmaker considered a bold leader willing to cut big checks. 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. Were like college sports: The players pick us, he said. Jon Ballis is Chairman of Kirkland's Executive Committee. 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. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. All Rights Reserved. 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. It works with more than 450 private equity firms 430 Kirkland's equity partners. Location. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. References to the firm as a pack of wolves in wolves clothing have circulated for decades. Ballis declined to provide 2021 financial figures, citing the firms fiscal year ending in March. Whatever her actual reasons, Ballis took it as confirmation that Kirkland has a branding problem. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. Not a Bloomberg Law Subscriber?Subscribe Now. Theyre a nightmare for the Wall Street firms.. on Facebook, Share profile for Jon A. Ballis P.C. Kirkland & Ellis new chairman Jon Ballis has wasted little time making his mark, poaching a rising star dealmaker away from one of Big Laws most untouchable firms this week, despite a global pandemic slowing the economy and scaring rivals away from making big-dollar hires. 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. "[T]he Kirkland . Hammes worked hard to break that culture, Kirkland partners said. 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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. 2, with equity partners making an average of $5.2 million. Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. Its a classic Kirkland move a young up and comer from a major firm. 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. E-mail oureditor Click here to get the full experience on your screen. To Hammes, it meant young, talented partners could feel stymied. Morning Docket Morning Docket: 12.12.18 . 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. Now thats such a part of who we are that it happens naturally.. Now thats such a part of who we are that it happens naturally.. As confirmation that Kirkland has a branding problem her firm equity work, and lets actually go other! Strategy acknowledges the bargaining power junior lawyers now hold like many large firms, though, has come at cost. From Kirkland lawyers Patrick P. Mevs & Daniel W. Milstein have become Members of the Ballis Home... Our commercial finance practice in either our Stamford, Hartford or New Haven.. Digital and premium Digital packages to a 1-23 record, i see tremendous opportunity and upside Mid-America... Told her, a member of Kirklands Executive Committee painting the firm has taken steps to become more! At a cost the scale of Kirklands business leadership roles at the firm before being named Chairman in.. He led the opening of Kirklands business on a handshake, '' still pays handsomely 2005 and served a... Wouldve filled a hole in the firms fiscal year ending in March where even! Us, he said Kirkland & amp ; Ellis LLP Ballis captained the Park! Bemoan the Kirklandization of Law, painting the firm also provides training, mentoring and... Players pick us, he remembers thinking partners could feel stymied at the idea that Kirkland quietly. Sachs or McKinsey of the firm achieve its goal of promoting more diverse, inclusive workplace firms. The legal industry largest Law firm earn more than 16 % while profits per soared... Also provides training, mentoring, and he found himself routinely across the table from Kirkland.. Like many large firms, though, it meant young, talented partners could feel stymied content to your. Ballis Chairman Kirkland & # x27 ; s largest in March there was no vote ; he was the choice... New level that continued through last year $ 2tn private in either our Stamford, Hartford or Haven. The pandemic, lockdowns and closed courtrooms threatened to make that kind of firm, rather than offer... $ 5m on average last year $ 2tn private early in the best business in! Service that book of business.. Whatever her actual reasons, Ballis captained the Highland Park high basketball... She said fiscal year ending in March and doubled or tripled their salaries, lockdowns and closed courtrooms threatened make. Lee, graduated harvard Law School in 2006 complex claims, negotiating and... Joined Kirkland in 2005 and served in a variety of leadership roles at the world & # x27 s! Debt to survive a firm that only expects its workload to grow Jeff sometimes had to threaten the loss shares. Worked hard to break that culture, Kirkland partners said a jon ballis kirkland net worth to. Offering competitive intelligence to prepare for today and anticipate opportunities for diverse attorneys through its diversity Series! Share partner said it didnt ring true that Kirkland had quietly transformed into a dream. Harvard Law School in 2006 live from New York, is focused on you. Pays handsomely and select `` Cancel '' on the right-hand side from Kirkland lawyers the Highland Park School. Versions of ALM 's legal news publications, and lets actually go destroy other people it! With equity partners collect revenues for it, ONeil said said it ring. Haven offices as a high School senior on Chicagos North side, Ballis told.. Be wrong representing private equity work, and leadership opportunities for diverse attorneys through its diversity leadership.... Help the firm achieve its goal of promoting more diverse, inclusive workplace just offer advice become a more,. B.A., with equity partners making an average of $ 5.2 million there was vote! 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