So far, Kirkland hasn't missed a beat since a change at the top a little over a year ago. It is riding a deal-making boom, topping Wall Street bluebloods like Wachtell Lipton Rosen & Katz and running circles around Chicago competitors.
Can Jon Ballis, a lower-key successor to Jeffrey Hammes as chair, sustain the momentum as management of larger firms grows more complex? Kirkland has 2,900 lawyers, almost three times what it had 15 years ago, and it's not stopping there.
Kirkland's revenue gain in 2020 alone would put it among the top 100 U.S. law firms. Law firms of its ilk are benefiting from an anxious flight to quality. Profits per partner for the 100 largest were up 13 percent in last year versus 5 percent in 2019, according to the American Lawyer.