All Business
Kirkland & Ellis chairman Jeffrey Hammes
Photo by Saverio Truglia
Photo by Saverio Truglia
Four
years ago, Kirkland & Ellis celebrated its 100 anniversary with a
beautiful glossy book about the history of the company. The
book ended with the one sharp requested 18 current and former members
of the "Works Council" Kirkland that the Executive Committee was then
called.
17 men and one woman should be different forms of legal reserve, with one exception. Jeffrey Hammes, which is characterized by his beaming smile, soft thick hair, once again, the public expression of abundance, and it seems as if he had wandered in the Convention of television news.
The following year, he was elected Hammes President Kirkland.
It is not surprising that 54-year-old is different from your typical large company lawyer. Hammes, who began his career as an accountant, you see only as a lawyer. An entrepreneur at heart, as he will tell you. In fact, one of the most amazing things with him is that he stayed a long time in Kirkland based in Chicago. Many of those who know him should be bolted to the business world.
In a sense, he said, having moved away from the exercise of private equity by leaps and bounds, and clients such as Bain Capital, becoming the first full-time officer of Kirkland & Ellis, succeeded in Washington, DC, and advocate Thomas Yannucci. This March, he began his second term for three years as Chairman of the Executive Committee for the general management of the company.
With sales jumped about 11 percent to more than $ 1.9 billion in the last year, and profits per partner rose 7 percent to 3.25 million, Kirkland has the second highest PPP American company based out of New York. But it's not good enough for the intensely competitive Hammes. He said he wants to go head-to-head with New York companies, which means fighting them on M & A on the grass. Last year, the company achieved its intentions clear when hooked M & A specialists Sarkis Jebejian, from Kravat, Swaine & Moore and Taurie Zeitzer Manhattan office of Latham and Watkins. In March the company turned its head again when working Blackstone Group LP Kirkland partner David Fox lateral chest سكادن, Arps, Slate, Meagher and Vela to advise on the presentation of the $ 25 billion company Dell Inc mission was a hit Kirkland, who wanted a long time to break the circle closeup of Blackstone for a great price.
With the construction of the M & A team, Hammes focuses on raising profile of the company in Asia, and most likely, and the recruitment of more stars side. They are also working to change the culture in Kirkland, where the partners have been known to compete with each other as they strive to the best of other companies. While some of the existing partners insist that the sharp-angled famous in the corporate culture has changed for the better, it can be that old habits do not die easily. Partners can like today to describe the company as "entrepreneurship", but the entrepreneurial spirit of the person to be "eat what you kill," on the other mental.
In spite of the culture of Kirkland served over the decades, the company now believes he can do better if their partners to spend less time competing against each other and more time at work. To the surprise of many, it Hammes, who climbed the ladder with blood on his elbows, which is leading a campaign for cultural reform. , "Made Jeff this transformation is incredible," said Mark Tresnowski, a partner Kirkland former who is now director of the General Counsel to the client Madison Dearborn Partners, "and was aggressive enough to climb the ladder, but when I got to the top, it has become institutional too. Had a zero tolerance for infighting. "
But in the end, it was business acumen that Hammes paid in the top. "Jeff has the uncanny ability to see around corners," says private equity partner Matthew Steinmetz, who took over the Pine relationship. "That is why he is respected he was a leader."
Unlike the larger-than-life lawyers from the older generation of Kirkland, Hammes not appear any desire to relax and chat about the saga of Kirkland & Ellis. Interviews this approach as a PowerPoint presentation: and contains information that must be transmitted, not a story. Unlike Yannucci, who at least acted like enjoyed talking with the press, Hammes take interviews with all the ease of a man about to have his front teeth بكماشات rusty.
Snowy day in March, Hammes responds to a reporter in a conference room with modern Kirkland seat on North LaSalle Street in Chicago, where the company occupies 26 floors overlooking the Chicago River. Asked if he could be difficult to download a young lawyer, Hammes says, "Yes," looks back and waits for the next question.
This difference between the two leaders could be due in part to the nature of their practices. Initially used lawsuit modify Yannucci in dealing with journalists, a specialized language. Hammes private equity clients are intensely private and are wary of public scrutiny. Although the people who know Hammes say he is very funny, and this is part of his character is not on the screen.
Hammes describes the company's growth strategy with the buzz words of a businessman. "We tend to grow by extension of products, instead of getting a completely new business," he said. Hammes often likes to "A-" Players lawyers who provide a full range of skills to mention clients, including the so-called "sticky", which means the ability to get hired back often.
Kirkland's success has been based during the past 30 years on its disciplined strategy. He focused on a small number of groups a very lucrative practice where they can excel: litigation, private equity, bankruptcy and intellectual property. This balance has enabled the company to grow in all economic climates. Even in 2008 and 2009, when it increased revenue and profit most large companies Diving revenues Kirkland and earnings per partner remained stable. The company also exceeded market growth since 2000 Kirkland rose from the sixteenth to fifth place on our total revenues cards retained equity partner compensation is very competitive. Since 2000, she was ranked among the top 10 companies in profits per partner in the law p 100, which is in seventh place in our table.
In recent years, the company added Kirkland M & A work in the public mix of basic practice through lateral hires a large chain. "Our goal is currently in New York and public M & A", as he says Hammes. "We did not do. Pause to integrate people came on board."
It has got to change the rules of the game of lateral movement Real Fox سكادن, who came up with small Daniel partner and Wolf 2009 Kirkland. Fox, 55, a mercurial and charismatic lawyer who knows all the right people welded M New York scene. Through the relationship with Bristol-Myers Squibb Company Fox convinced the company to try to reach an agreement Kirkland. The company has since moved a large part of the M & A work in Kirkland. Last year, Fox, Bristol-Myers represented in the acquisition of Amylin Pharmaceuticals LLC $ 6350000.
The offer came Blackstone for Dell to Fox through its association with John Finley, legal director of Blackstone, who is a former partner at Simpson Thacher & Bartlett. (Simpson, outside counsel used to Blackstone, was because it represents a conflict of competing bidders Silver Lake Partners).
Since the arrival of Fox, Kirkland rose to M & A charts. In the past year, and was senior counsel in the volume of business in the United States, with 265 delivers up to fourth place in 2009. In the rankings finest deal values in the United States, the company achieved a leap even more impressive, rising from 52 in place in 2009 to sixth place in 2012, with $ 127 billion in transactions. (The classification is based on the Mergermarket data.)
Fox Hammes be favorable credits without being intrusive. "He does not try to guess or pre-empt," says Fox, "and understand this work in a way I've never seen someone understand, this is not a small thinker. Focuses on that they really think is driving the action."
In the Companies Act, and the main engine of the company, this is talent. When it comes to hiring the talent side, Kirkland has the advantage. The company has a group of the largest partner compensation from several companies, including most of the companies in New York: Although many companies in New York and have spread remuneration 3:01 or 4: 1, ratio 8:1 Kirkland. This means that the key partners of Kirkland do much more than the highest paid partners for a number of competing companies. Kirkland and its partners can provide targeted the generous side bump above what they are doing now. "It's nice to have a tool in the toolkit," says Hammes on the structure of compensation from Kirkland.
Related: How huge class actions outside Kirkland helps the bottom line.
This tool has a coil in Kirkland enviable wages side chain in recent years. In 2009, for example, fell Marc Philippe, Deputy Attorney General and former U.S. Federal District Court judge, who was a partner سكادن before his government service. In Kirkland, Philip has played a major role in the large-scale distribution of BP represent in any dispute about the disaster and the Deepwater Horizon.
Kirkland also brought in eight lateral partners to its Hong Kong office in 2011, luring M & A and capital markets Lawyers سكادن, Latham, Allen & Overy. Financial markets were cool in Hong Kong in recent times, but seven years in office recently addressed the large private equity transactions. "Recruitment team in Hong Kong is the largest lateral movement we did at one time," says Hammes. "I do not see us doing what we did in Hong Kong in anywhere else."
That the company can hire high-priced stars side can be risky, and not all the movements of society worked. Only this March, San Francisco M & A partner Michael Ringlr, only lasted a few weeks before Kirkland pulled back to Wilson سونسيني the Goodrich and Rosati. The company says simply "decided to continue his 17-year career in سونسيني Wilson" Ringlr and wished him good luck. The Ringlr did not respond to a request for comment.
With regard to the culture of Kirkland, Hammes recognizes that the company needs to work on promoting further cooperation. "We're not perfect," he said. "We are good at recognizing where we need to improve." Now, said Hammes, "We rely on different skills to put the best team on the pitch. This is what customers want." To this end, the partners who can prove that they have included other partners in the questions of their clients are rewarded now in the time of compensation.
Hammes grew up in middle-class homes in Milwaukee. His father worked in the construction industry and his mother was a housewife. The first in his family to go to college, he studied at the University of Wisconsin-Madison, where he majored in accounting. After graduating from university, he worked as an accountant at Arthur Andersen, and then decided to go to law school. Hammes enrolled in the Faculty of Law at DePaul University in Chicago, after his first year he was transferred to a school is the best school at Northwestern University with the law.
Unlike many in Kirkland, Hammes was not on the revision of the law did not graduate from law school with academic honors. Became Leonard Loventhal, which, was in the class of 1985 Hammes northwest, friends with him because they share a desire to go into business. "It is exceptional, and very bright, and eight standard deviations from the base," said Loventhal. Hammes also remembers one of the few friends willing to take study leave to watch movies with him: "It was very good in law school without having to work hard," added Loventhal: 'I never thought that it would be in the law as long as it was, it's much different Most lawyers What surprised me is that it has not made the leap Bain or KKR or build his own private equity firm ... "
Although Kirkland in 1985 was primarily a litigation company, Hammes took a job there to work with the private equity group is small but growing, led by the legendary Jack Levin. Hammes has quickly become God, work ethic and perseverance. He "was جوجيتير," recalls 78-year-old Levin. "Do you want to move faster him? Of course he did. I love him."
"I did not think I'd be a lawyer in the long term," says Hammes. "I thought I would check out a few years, then start a business. Was Kirkland [then] place young, energetic, with a lot of people who were leading too. Have a series of projects is very me." But because of the early success to him in Kirkland, Hammes decided not to join the business world. "and I was able to make customer relationships for clients of private equity at the beginning of my career," he said. "He just got better every year."
"Jeff has always been driven significantly," says Alex Dimitrief, which began as an associate summer with Hammes, the Kirkland partner, and is now Vice President and General Counsel of the Company GE Energy ". Jeff was great to take the best interval be underestimated," says Dimitrief, This effect, which compares to President Ronald Reagan. "He does not wear his mind on his sleeve, and he seems like a funny man you want to get a beer with. You do not realize that this is a very intelligent person and difficult, and it just picked the pocket. Guests love it."
After making an extraordinary partner shares (or "partner nonshare," as they are called in Kirkland) in 1991, and become a partner in the work four years later, he oversaw Hammes booming private equity practice for customers such as bathroom and Madison Dearborn Partners. At a time when his career tinnitus, he decided to take a big risk. In 2002, he went to the Executive Committee and told them that he wants to open an office in San Francisco, which was still reeling from the collapse of the Internet bubble, and where many of the third-party company in the city sank. Hammes - which can not provide the Executive Committee does not compete with companies in the San Francisco Bay Area to work from venture capital and start-up companies. But he discovered that there is a need to catch up with the evolving private equity lawyers. "What was missing, there was a possibility to perform more complex operations, LBO", says Hammes. "It's like doing heart surgery. You should do every day to be good."
The office opened in 2003 with some of the Hammes "A-players", including David and Stephen breach partners Oetgen. But in an unusual development, and Hammes not plan to move to involve the San Francisco Bay Area itself, in part, because he does not want to uproot his family. (He was the son of four Hammes, including triplets males.) Instead, he will oversee the Chicago office, and spend about one week a month in the San Francisco Bay area, staying at the Four Seasons and other luxury hotels.
Oetgen Hammes remembers not only to customers laser during his travels, but I like to ease things in the office, taking together to drink and throw a party. "I used to joke that when I worked for Jeff in Chicago, and it was hard ass. It can get steamed really even about things," says Oetgen, who left recently to become deputy Kirkland Chief Executive Officer and General Counsel at Golden Gate Capital, but when it came Hammes to San Francisco, Oetgen remember, people wanted to have a good time: "in a strange way, it was like Santa Claus is coming to town."
Unlike Los Angeles station from Kirkland, who fought a long battle the San Francisco office was a success from the start. She was born Golden Gate Capital, Pine-offs, and more than half of the work of the Office for several years. The company has also developed a busy practice of patent litigation, led by Stephen Johnson, who drew a function of Apple Inc., Cisco Systems, Inc. and Intel Corporation. Today, the two offices the San Francisco Bay area for the company (which now include Palo Alto) has 110 lawyers. Hammes, who joined the Executive Committee in 2004, called the project "one of the most rewarding I've done things in Kirkland."
Strong-willed Kirkland partners have struggled in the past with the handover of power. Even today, the company did not have a practice group leaders or office managers. Such bureaucracy, the company says, would undermine his entrepreneurial spirit, leadership can be named is also a disadvantage.
When Hammes Kirkland joined in 1985, the company was governed by the Wrestling Federation of Chicago leaders, including Levin, Howard Crane, William child and Donald Kempf. "We have to juggle has been called a strong position to discuss," Levine Kempf, now retired, puts it this way: "It was not governed by Kirkland known."
In 1987, The American Lawyer examined Gay Jervey dynamic force and the overall corporate culture in the "win without a head." Unknown partner then proudly Kirkland described as "a ruthless capitalist." Partner Emily نيكلين, the only woman on the board of the company until three years ago, and called on his fellow partners "Wolves in Wolves", which in this day still causes partners to shudder. Kirkland also entered the 21st century, the company still has no official leader, despite the fact that Levin worked facto administration partner. (Chancellor has admitted to private equity firms for a long time gasping leave phone messages in a circle.) Committee meetings chaired alternately partner company, which has hampered its decision quickly and decisively. Kirkland has hired a consulting firm and agonized about whether to create the post of president. When the decision was made at the end of the day in 2001, and rose unlikely candidate to the top.
Washington, DC, and advocacy Yannucci was not the strongest partner in Kirkland, but has been approved by the various factions. "It is in Brussels, but even better!" Exclaimed former partner Paul Cappuccio, referring to the seat of power of the European Union, "and I got it because he was the person most respected, who was not a leader in Chicago" Cappuccio, executive vice president and now general counsel for Time Warner Inc., and added: "proved Yannucci to be president ideal for visits was treated not as a position of power, but as an honest broker and the listener, "says litigation partner Jay يفكوويتز: .." Tom was a true statesman, and was a skilled manager of people. "
The nine-year tenure Yannucci, continued to practice while the company has doubled in size and opened offices in Munich and Hong Kong and laid the foundation for Shanghai. Kirkland stepped up to the public interest, and the program continued its tradition of rigorous training partner. Now 63, Yannucci oversees Pro Bono Program of the company, teaches at Georgetown University Law Center, representing clients such as Siemens AG and Facebook Inc.On the basis of its success in San Francisco, on the strength of a private clinic emerged shares Kirkland Hammes generally as the option most likely to succeed Yannucci. But when exploiting its executive committee, delighted everyone. "Some of the litigants were afraid of death Jeff," said former Dimitrief partner. "There has always been a dispute against the division of the company, and some concern that litigants can enhance business practice. Heard that even some of the biggest skeptics around since."
The lawsuit praised يفكوويتز, who sits on the Executive Committee, and the leadership qualities of Hammes: "Jeff has boundless energy and combines strategic thinking with great tactical skills to transactions maker." . Philip lawsuit, which is also a member of the steering committee, Hammes described as "a man honest incredibly," which is "very, very clear," Philip about anything but optimistic about the future of the company, "Kirkland is a place where the best days are not to come and there is no Downton Abbey feel Kirkland. "
Hammes has a limited time to achieve its goals of building M & A and practices Asia, and, as he said, "to be seen by customers as the largest, the value of the timing, the company focused on service in the world." In Kirkland, where the focus is on young people, and members of the Executive Committee resign in 60. "There are a few things Jeff is a good man in the right place to Kirkland," says Dimitrief in GE. Hammes is not only smart and strategic, he said, but he is not afraid to take risks and drive.
"Since he took, you can see his fingerprints on everything," says Madison Dearborn Tresnowski. "It will be crucial. Strongly go after what you want."...
17 men and one woman should be different forms of legal reserve, with one exception. Jeffrey Hammes, which is characterized by his beaming smile, soft thick hair, once again, the public expression of abundance, and it seems as if he had wandered in the Convention of television news.
The following year, he was elected Hammes President Kirkland.
It is not surprising that 54-year-old is different from your typical large company lawyer. Hammes, who began his career as an accountant, you see only as a lawyer. An entrepreneur at heart, as he will tell you. In fact, one of the most amazing things with him is that he stayed a long time in Kirkland based in Chicago. Many of those who know him should be bolted to the business world.
In a sense, he said, having moved away from the exercise of private equity by leaps and bounds, and clients such as Bain Capital, becoming the first full-time officer of Kirkland & Ellis, succeeded in Washington, DC, and advocate Thomas Yannucci. This March, he began his second term for three years as Chairman of the Executive Committee for the general management of the company.
With sales jumped about 11 percent to more than $ 1.9 billion in the last year, and profits per partner rose 7 percent to 3.25 million, Kirkland has the second highest PPP American company based out of New York. But it's not good enough for the intensely competitive Hammes. He said he wants to go head-to-head with New York companies, which means fighting them on M & A on the grass. Last year, the company achieved its intentions clear when hooked M & A specialists Sarkis Jebejian, from Kravat, Swaine & Moore and Taurie Zeitzer Manhattan office of Latham and Watkins. In March the company turned its head again when working Blackstone Group LP Kirkland partner David Fox lateral chest سكادن, Arps, Slate, Meagher and Vela to advise on the presentation of the $ 25 billion company Dell Inc mission was a hit Kirkland, who wanted a long time to break the circle closeup of Blackstone for a great price.
With the construction of the M & A team, Hammes focuses on raising profile of the company in Asia, and most likely, and the recruitment of more stars side. They are also working to change the culture in Kirkland, where the partners have been known to compete with each other as they strive to the best of other companies. While some of the existing partners insist that the sharp-angled famous in the corporate culture has changed for the better, it can be that old habits do not die easily. Partners can like today to describe the company as "entrepreneurship", but the entrepreneurial spirit of the person to be "eat what you kill," on the other mental.
In spite of the culture of Kirkland served over the decades, the company now believes he can do better if their partners to spend less time competing against each other and more time at work. To the surprise of many, it Hammes, who climbed the ladder with blood on his elbows, which is leading a campaign for cultural reform. , "Made Jeff this transformation is incredible," said Mark Tresnowski, a partner Kirkland former who is now director of the General Counsel to the client Madison Dearborn Partners, "and was aggressive enough to climb the ladder, but when I got to the top, it has become institutional too. Had a zero tolerance for infighting. "
But in the end, it was business acumen that Hammes paid in the top. "Jeff has the uncanny ability to see around corners," says private equity partner Matthew Steinmetz, who took over the Pine relationship. "That is why he is respected he was a leader."
Unlike the larger-than-life lawyers from the older generation of Kirkland, Hammes not appear any desire to relax and chat about the saga of Kirkland & Ellis. Interviews this approach as a PowerPoint presentation: and contains information that must be transmitted, not a story. Unlike Yannucci, who at least acted like enjoyed talking with the press, Hammes take interviews with all the ease of a man about to have his front teeth بكماشات rusty.
Snowy day in March, Hammes responds to a reporter in a conference room with modern Kirkland seat on North LaSalle Street in Chicago, where the company occupies 26 floors overlooking the Chicago River. Asked if he could be difficult to download a young lawyer, Hammes says, "Yes," looks back and waits for the next question.
This difference between the two leaders could be due in part to the nature of their practices. Initially used lawsuit modify Yannucci in dealing with journalists, a specialized language. Hammes private equity clients are intensely private and are wary of public scrutiny. Although the people who know Hammes say he is very funny, and this is part of his character is not on the screen.
Hammes describes the company's growth strategy with the buzz words of a businessman. "We tend to grow by extension of products, instead of getting a completely new business," he said. Hammes often likes to "A-" Players lawyers who provide a full range of skills to mention clients, including the so-called "sticky", which means the ability to get hired back often.
Kirkland's success has been based during the past 30 years on its disciplined strategy. He focused on a small number of groups a very lucrative practice where they can excel: litigation, private equity, bankruptcy and intellectual property. This balance has enabled the company to grow in all economic climates. Even in 2008 and 2009, when it increased revenue and profit most large companies Diving revenues Kirkland and earnings per partner remained stable. The company also exceeded market growth since 2000 Kirkland rose from the sixteenth to fifth place on our total revenues cards retained equity partner compensation is very competitive. Since 2000, she was ranked among the top 10 companies in profits per partner in the law p 100, which is in seventh place in our table.
In recent years, the company added Kirkland M & A work in the public mix of basic practice through lateral hires a large chain. "Our goal is currently in New York and public M & A", as he says Hammes. "We did not do. Pause to integrate people came on board."
It has got to change the rules of the game of lateral movement Real Fox سكادن, who came up with small Daniel partner and Wolf 2009 Kirkland. Fox, 55, a mercurial and charismatic lawyer who knows all the right people welded M New York scene. Through the relationship with Bristol-Myers Squibb Company Fox convinced the company to try to reach an agreement Kirkland. The company has since moved a large part of the M & A work in Kirkland. Last year, Fox, Bristol-Myers represented in the acquisition of Amylin Pharmaceuticals LLC $ 6350000.
The offer came Blackstone for Dell to Fox through its association with John Finley, legal director of Blackstone, who is a former partner at Simpson Thacher & Bartlett. (Simpson, outside counsel used to Blackstone, was because it represents a conflict of competing bidders Silver Lake Partners).
Since the arrival of Fox, Kirkland rose to M & A charts. In the past year, and was senior counsel in the volume of business in the United States, with 265 delivers up to fourth place in 2009. In the rankings finest deal values in the United States, the company achieved a leap even more impressive, rising from 52 in place in 2009 to sixth place in 2012, with $ 127 billion in transactions. (The classification is based on the Mergermarket data.)
Fox Hammes be favorable credits without being intrusive. "He does not try to guess or pre-empt," says Fox, "and understand this work in a way I've never seen someone understand, this is not a small thinker. Focuses on that they really think is driving the action."
In the Companies Act, and the main engine of the company, this is talent. When it comes to hiring the talent side, Kirkland has the advantage. The company has a group of the largest partner compensation from several companies, including most of the companies in New York: Although many companies in New York and have spread remuneration 3:01 or 4: 1, ratio 8:1 Kirkland. This means that the key partners of Kirkland do much more than the highest paid partners for a number of competing companies. Kirkland and its partners can provide targeted the generous side bump above what they are doing now. "It's nice to have a tool in the toolkit," says Hammes on the structure of compensation from Kirkland.
Related: How huge class actions outside Kirkland helps the bottom line.
This tool has a coil in Kirkland enviable wages side chain in recent years. In 2009, for example, fell Marc Philippe, Deputy Attorney General and former U.S. Federal District Court judge, who was a partner سكادن before his government service. In Kirkland, Philip has played a major role in the large-scale distribution of BP represent in any dispute about the disaster and the Deepwater Horizon.
Kirkland also brought in eight lateral partners to its Hong Kong office in 2011, luring M & A and capital markets Lawyers سكادن, Latham, Allen & Overy. Financial markets were cool in Hong Kong in recent times, but seven years in office recently addressed the large private equity transactions. "Recruitment team in Hong Kong is the largest lateral movement we did at one time," says Hammes. "I do not see us doing what we did in Hong Kong in anywhere else."
That the company can hire high-priced stars side can be risky, and not all the movements of society worked. Only this March, San Francisco M & A partner Michael Ringlr, only lasted a few weeks before Kirkland pulled back to Wilson سونسيني the Goodrich and Rosati. The company says simply "decided to continue his 17-year career in سونسيني Wilson" Ringlr and wished him good luck. The Ringlr did not respond to a request for comment.
With regard to the culture of Kirkland, Hammes recognizes that the company needs to work on promoting further cooperation. "We're not perfect," he said. "We are good at recognizing where we need to improve." Now, said Hammes, "We rely on different skills to put the best team on the pitch. This is what customers want." To this end, the partners who can prove that they have included other partners in the questions of their clients are rewarded now in the time of compensation.
Hammes grew up in middle-class homes in Milwaukee. His father worked in the construction industry and his mother was a housewife. The first in his family to go to college, he studied at the University of Wisconsin-Madison, where he majored in accounting. After graduating from university, he worked as an accountant at Arthur Andersen, and then decided to go to law school. Hammes enrolled in the Faculty of Law at DePaul University in Chicago, after his first year he was transferred to a school is the best school at Northwestern University with the law.
Unlike many in Kirkland, Hammes was not on the revision of the law did not graduate from law school with academic honors. Became Leonard Loventhal, which, was in the class of 1985 Hammes northwest, friends with him because they share a desire to go into business. "It is exceptional, and very bright, and eight standard deviations from the base," said Loventhal. Hammes also remembers one of the few friends willing to take study leave to watch movies with him: "It was very good in law school without having to work hard," added Loventhal: 'I never thought that it would be in the law as long as it was, it's much different Most lawyers What surprised me is that it has not made the leap Bain or KKR or build his own private equity firm ... "
Although Kirkland in 1985 was primarily a litigation company, Hammes took a job there to work with the private equity group is small but growing, led by the legendary Jack Levin. Hammes has quickly become God, work ethic and perseverance. He "was جوجيتير," recalls 78-year-old Levin. "Do you want to move faster him? Of course he did. I love him."
"I did not think I'd be a lawyer in the long term," says Hammes. "I thought I would check out a few years, then start a business. Was Kirkland [then] place young, energetic, with a lot of people who were leading too. Have a series of projects is very me." But because of the early success to him in Kirkland, Hammes decided not to join the business world. "and I was able to make customer relationships for clients of private equity at the beginning of my career," he said. "He just got better every year."
"Jeff has always been driven significantly," says Alex Dimitrief, which began as an associate summer with Hammes, the Kirkland partner, and is now Vice President and General Counsel of the Company GE Energy ". Jeff was great to take the best interval be underestimated," says Dimitrief, This effect, which compares to President Ronald Reagan. "He does not wear his mind on his sleeve, and he seems like a funny man you want to get a beer with. You do not realize that this is a very intelligent person and difficult, and it just picked the pocket. Guests love it."
After making an extraordinary partner shares (or "partner nonshare," as they are called in Kirkland) in 1991, and become a partner in the work four years later, he oversaw Hammes booming private equity practice for customers such as bathroom and Madison Dearborn Partners. At a time when his career tinnitus, he decided to take a big risk. In 2002, he went to the Executive Committee and told them that he wants to open an office in San Francisco, which was still reeling from the collapse of the Internet bubble, and where many of the third-party company in the city sank. Hammes - which can not provide the Executive Committee does not compete with companies in the San Francisco Bay Area to work from venture capital and start-up companies. But he discovered that there is a need to catch up with the evolving private equity lawyers. "What was missing, there was a possibility to perform more complex operations, LBO", says Hammes. "It's like doing heart surgery. You should do every day to be good."
The office opened in 2003 with some of the Hammes "A-players", including David and Stephen breach partners Oetgen. But in an unusual development, and Hammes not plan to move to involve the San Francisco Bay Area itself, in part, because he does not want to uproot his family. (He was the son of four Hammes, including triplets males.) Instead, he will oversee the Chicago office, and spend about one week a month in the San Francisco Bay area, staying at the Four Seasons and other luxury hotels.
Oetgen Hammes remembers not only to customers laser during his travels, but I like to ease things in the office, taking together to drink and throw a party. "I used to joke that when I worked for Jeff in Chicago, and it was hard ass. It can get steamed really even about things," says Oetgen, who left recently to become deputy Kirkland Chief Executive Officer and General Counsel at Golden Gate Capital, but when it came Hammes to San Francisco, Oetgen remember, people wanted to have a good time: "in a strange way, it was like Santa Claus is coming to town."
Unlike Los Angeles station from Kirkland, who fought a long battle the San Francisco office was a success from the start. She was born Golden Gate Capital, Pine-offs, and more than half of the work of the Office for several years. The company has also developed a busy practice of patent litigation, led by Stephen Johnson, who drew a function of Apple Inc., Cisco Systems, Inc. and Intel Corporation. Today, the two offices the San Francisco Bay area for the company (which now include Palo Alto) has 110 lawyers. Hammes, who joined the Executive Committee in 2004, called the project "one of the most rewarding I've done things in Kirkland."
Strong-willed Kirkland partners have struggled in the past with the handover of power. Even today, the company did not have a practice group leaders or office managers. Such bureaucracy, the company says, would undermine his entrepreneurial spirit, leadership can be named is also a disadvantage.
When Hammes Kirkland joined in 1985, the company was governed by the Wrestling Federation of Chicago leaders, including Levin, Howard Crane, William child and Donald Kempf. "We have to juggle has been called a strong position to discuss," Levine Kempf, now retired, puts it this way: "It was not governed by Kirkland known."
In 1987, The American Lawyer examined Gay Jervey dynamic force and the overall corporate culture in the "win without a head." Unknown partner then proudly Kirkland described as "a ruthless capitalist." Partner Emily نيكلين, the only woman on the board of the company until three years ago, and called on his fellow partners "Wolves in Wolves", which in this day still causes partners to shudder. Kirkland also entered the 21st century, the company still has no official leader, despite the fact that Levin worked facto administration partner. (Chancellor has admitted to private equity firms for a long time gasping leave phone messages in a circle.) Committee meetings chaired alternately partner company, which has hampered its decision quickly and decisively. Kirkland has hired a consulting firm and agonized about whether to create the post of president. When the decision was made at the end of the day in 2001, and rose unlikely candidate to the top.
Washington, DC, and advocacy Yannucci was not the strongest partner in Kirkland, but has been approved by the various factions. "It is in Brussels, but even better!" Exclaimed former partner Paul Cappuccio, referring to the seat of power of the European Union, "and I got it because he was the person most respected, who was not a leader in Chicago" Cappuccio, executive vice president and now general counsel for Time Warner Inc., and added: "proved Yannucci to be president ideal for visits was treated not as a position of power, but as an honest broker and the listener, "says litigation partner Jay يفكوويتز: .." Tom was a true statesman, and was a skilled manager of people. "
The nine-year tenure Yannucci, continued to practice while the company has doubled in size and opened offices in Munich and Hong Kong and laid the foundation for Shanghai. Kirkland stepped up to the public interest, and the program continued its tradition of rigorous training partner. Now 63, Yannucci oversees Pro Bono Program of the company, teaches at Georgetown University Law Center, representing clients such as Siemens AG and Facebook Inc.On the basis of its success in San Francisco, on the strength of a private clinic emerged shares Kirkland Hammes generally as the option most likely to succeed Yannucci. But when exploiting its executive committee, delighted everyone. "Some of the litigants were afraid of death Jeff," said former Dimitrief partner. "There has always been a dispute against the division of the company, and some concern that litigants can enhance business practice. Heard that even some of the biggest skeptics around since."
The lawsuit praised يفكوويتز, who sits on the Executive Committee, and the leadership qualities of Hammes: "Jeff has boundless energy and combines strategic thinking with great tactical skills to transactions maker." . Philip lawsuit, which is also a member of the steering committee, Hammes described as "a man honest incredibly," which is "very, very clear," Philip about anything but optimistic about the future of the company, "Kirkland is a place where the best days are not to come and there is no Downton Abbey feel Kirkland. "
Hammes has a limited time to achieve its goals of building M & A and practices Asia, and, as he said, "to be seen by customers as the largest, the value of the timing, the company focused on service in the world." In Kirkland, where the focus is on young people, and members of the Executive Committee resign in 60. "There are a few things Jeff is a good man in the right place to Kirkland," says Dimitrief in GE. Hammes is not only smart and strategic, he said, but he is not afraid to take risks and drive.
"Since he took, you can see his fingerprints on everything," says Madison Dearborn Tresnowski. "It will be crucial. Strongly go after what you want."...
source. : The American Lawyer
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