Ballis is unapologetic about the firm challenging its lawyers. There is an arrogance that were the best. But Kirkland was No. Jon A Ballis is Partner at Kirkland & Ellis LLP. 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. Jon A. Ballis P.C. That is valuable for them, said a source close to Kirkland who declined to be named to preserve relationships within the firm. As a high school senior, Ballis captained the Highland Park High School basketball team to a 1-23 record. The original version of this story was published on International. By September, the firms M&A engine pushed to a new level that continued through last year. That will ultimately help the firm achieve its goal of promoting more diverse partner classes internally, she said. * Kirkland & Ellis will have a new leader soon, but that doesn't mean the firm's lateral hiring spree will end. The latest hire, Lee, graduated Harvard Law School in 2006. on Facebook, Share profile for Jon A. Ballis P.C. (Podcast). 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. Brian F Richards Paul Hastings LLP16 Years Ranked. Lawyers profile | USA 2022: Corporate/M&A: Private Equity, Intellectual Property: Trademark, Copyright & Trade Secrets, Litigation: White-Collar Crime & Government Investigations. VIDEO: Big Laws Big Paychecks: Partner Compensation, Explained. Anti-Defamation League, Civic Committee, Commercial Club of Chicago, Economic Club, Illinois Holocaust Museum, Legal Aid Chicago Justice Circle, Vision for Tomorrow Foundation. Jon Ballis Chairman Kirkland & Ellis LLP I, Jon Ballis, personally commit to the following: Personal Commitment. 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. Ballis was selected the firms chairman in 2018 by a group of senior partners. organisation ), Pandemic Generation of Junior Lawyers Win Power Amid Talent War, Kirkland Passes Wachtell as Big Laws Top Global Dealmaker (1). Three months later, he learned shed joined a different firm. 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. Jon Ballis's email address j*****@kirkland.com 312560.. | Show email & phone number >>> Rocketreach finds email, phone & social media for 450M+ professionals. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. He served as chair-elect for a year. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. That makes Ballis task all the more difficult. Jon Ballis is Chairman of Kirkland's Executive Committee. The potential hire wouldve filled a hole in the firms antitrust practice, convincing regulators that transformational corporate deals wont harm consumers. As a high school senior on Chicagos north side, Ballis captained the Highland Park High School basketball team to a 1-23 record. 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. 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. in Trial Advocacy, A Corporate Counsel Guide to Successful Contract Lifecycle Management, Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, COMMERCIAL FINANCE ATTORNEY - CT OFFICES; REMOTE will be considered, AARONSON RAPPAPORT FEINSTEIN & DEUTSCH, LLP, Understanding the Las Vegas Crime Rate with Attorney Tony Sgro, Introducing Virginia Ivanova, Esq. Kirkland revenue in 2018, up nearly 20% on 2017. They service that book of business, and they collect revenues for it, ONeil said. The rest have been forced to pay their most important lawyers more money so they wont be plucked away. But the worst-case scenario never panned out. Jebejian and Schiele were 43 when they joined Kirkland, while Davis was 34. This is not in the playbook of how to run this law firm, he remembers thinking. 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. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. Articles & Events. Theres no sign Kirkland or other Big Law firms will be asking their lawyers to work less. Some partners at the worlds largest law firm earn more than $20 million a year, according to a former shareholder. If youre a private equity guy with a couple of big clients, Im sure everyone is very collegial at that level.. Global Practice Guides. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. To view this content, please continue to their sites. Join Law.com now! Big Law firms rarely admit problems. Revenue in 2020 grew more than 16% while profits per partner soared nearly 20% to $6.2 million. Chicago, Illinois, United States. Site Map, Advertise| 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. Diversity initiatives at Kirkland & Ellis include an Inclusive Leadership discussion series, a women's leadership initiative, and programs for diverse 1Ls and 2Ls. Kirkland & Ellis was named an LCLD Top Performer in 2013, 2015, 2016, 2017, 2018, and 2022. He served as chair-elect for a year. Part of the culture change has been required by the scale of Kirklands business. Chairman, Kirkland & Ellis LLP. Theyre a nightmare for the Wall Street firms.. 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. Soon after he became Kirklands chairman in 2020, Ballis remembers, he tried to woo a partner from a rival firm in London. Big Law firms are facing a retention crisis and Kirkland is no exception. The old math was: one partner has a book of business. Its not a good culture, said one former share partner who left the firm recently. He wants people like him who relish the hard work. 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. That makes Ballis task all the more difficult. 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. Melissa Hutson, a member of Kirklands executive committee, said Kirkland has hired a dozen senior women and diverse partners recently. 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. Our Team Account subscription service is for legal teams of four or more attorneys. He has acted as a guest lecturer at Harvard Law School, Northwestern University Law School and the University of Chicago Law School. The description of its so-called eat-what-you kill compensation system, which has bred part of its reputation, is a mischaracterization, he says. You can still enjoy your subscription until the end of your current billing period. 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. Terms of Service. 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. To contact the reporter on this story: Meghan Tribe in New York at mtribe@bloomberglaw.com; Roy Strom in Chicago at rstrom@bloomberglaw.com, To contact the editors responsible for this story: Rebekah Mintzer at rmintzer@bloomberglaw.com; Tom P. Taylor at ttaylor@bloomberglaw.com. Its an important job for law firms these days, and especially for the firm that last year handled more M&A deals than anybody. Still,many in the legal industry laugh at the idea that Kirkland has quietly changed its style. Neither Kirkland nor Wachtell were immediately available for comment on Lees hire and their overall strategies. Some partners at the world's largest. Law Tech. Jon Ballis is Chairman of Kirklands Executive Committee. The firm resets partners allocation of shares every other year, and the key questions reward behavior that leaders view as putting the firm first. 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. He eliminated the concept of billing partners who earn credit for work done by clients they brought into the fold. 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. Shed be part of a team at Kirkland doing more important, interesting work than anywhere else, Ballis told her. Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon Building with Jeff Hammes. 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 Covid-19 pandemic was declared a national emergency just 68 days into his job as chairman. 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. Work. Im not surprised at all he ended up being very successful, Gray said of Ballis. Jon joined Kirkland in 2005 and served in a variety of leadership roles at the Firm before being named Chairman in 2020. From left to right: Sophia, Lottie and John Ballis stand in front of the Ballis Tourist Home in the 1940s. Ballis, a member of the firm's 15-lawyer management committee, had been rumored to . Big Law firms are facing a retention crisis and Kirkland is no exception. About; Map. All Rights Reserved. Click below to see everything we have to offer. Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms financials, staffing, clients, news and events. 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 . - 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 Jon Ballis, 49, will succeed Hammes in early 2020, according to a memo sent to all Kirkland employees Dec. 7. Chairman @ Kirkland & Ellis . Thats the definition of success here, said Sophia Hudson, who joined Kirkland from Davis Polk, a long-time lockstep firm, in 2018. The firm hired more than 400 associates in 2021, according to data from Leopard Solutions. Ballis is a founder and director of the Vision for Tomorrow Foundation and serves on the boards of the Anti-Defamation League and the Illinois Holocaust Museum & Education Center. Harvard Law School, J.D., cum laude, 1994; Lehigh University, B.A., with High Honors, 1991. Debevoise Is Ready, Napoli Shkolnik Sues Own Attorney, Alleging 'Quiet Quitting', 'It Was Every Lawyers Nightmare': Florida Attorney Faces $2.3M Verdict Against Him. 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 Ballis is chairman-elect of Kirkland & Ellis' global management executive committee and will become chairman in 2020. 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. LexisNexis and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information. Jon A. Ballis of Kirkland & Ellis is a Who's Who in Chicago Business 2023 for Crain's Chicago Business. Kirklands restructuring practice exploded. She joined from Cravath, which paid its average partner $4.6 million that year, data compiled by The American Lawyer show. Kirklands reputation has been around so long, its hard to determine where it even began. The demands of billing 2,500 to 3,000 hours a year, though, has come at a cost. Name a rivalWachtell, Lipton, Rosen & Katz; Cravath, Swaine & Moore; Simpson Thacher & Bartlettand Kirkland has poached from them. Since joining Kirkland in 2005, Ballis practice has focused on leveraged buyouts of public and private companies as well as strategic mergers and acquisitions. Jon Ballisbecame Chairman of Kirkland & Ellis in 2020. Premium access for businesses and educational institutions. And his reasons for making the sales pitch are pragmatic: Kirklands reputation is making it harder to win the next game on his schedule. Jon has long been recognized as one of the leading private equity attorneys in the United States by major legal publications. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. Its a major challenge for a firm that only expects its workload to grow. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. 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. offers FT membership to read for free. Now thats such a part of who we are that it happens naturally.. Missing Crain's in print? You see what type of lawyer he is and you want to be that.. Ballis joined Kirkland after a recruiting lunch at the Mid-America Club atop Chicagos 83-floor Aon Building with Jeff Hammes. Chicago, IL 60601 2023 Leadership Council on Legal Diversity. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. 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. 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. Jon A Ballis Chairman Kirkland & Ellis (International) Jon Ballis is Chairman of the Firm's Executive Committee, the governing body of Kirkland & Ellis. Clients pay them as much as $2,000 an hour to never be wrong. Litigator Sandra Goldstein was paid $11 million a year to join Kirkland in 2018, according to the New York Times. 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. (Adds additional reporting in paragraph 14 and Andy Calder quote in paragraph 15. Navigate to map location for Jon A. Ballis P.C. Click here to get the full experience on your screen. He is a highly-experienced practitioner who is well versed in representing private equity firms in substantial transactions. Still, many in the legal industry laugh at the idea that Kirkland has quietly changed its style. Its not a good culture, said one former share partner who left the firm recently. The firms hiring strategy acknowledges the bargaining power junior lawyers now hold. Some partners at the world's largest law firm earn more than $20 million a year, according to a former shareholder. Check if your university Your article was successfully shared with the contacts you provided. Or more attorneys, J.D., cum laude, 1994 ; Lehigh,. Has bred part of a team at Kirkland doing more important, interesting work than anywhere else Ballis... Hard to determine where it even began surprised at all he ended up being very successful, Gray said Ballis. 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