Kirkland & Ellis Hires Matthew Conway as Executive Comp Partner

Kirkland & Ellis has hired Matthew Conway as a partner in its executive compensation practice, poaching him from Latham & Watkins in a lateral move aimed squarely at the firm's private equity client base.

Conway will advise private equity sponsors, portfolio companies, corporate executives, and public and private businesses on compensation arrangements tied to complex transactions. His practice covers executive compensation, retention arrangements, equity incentives, and compensation-related matters that arise during mergers, acquisitions, and corporate deals.

The hire signals where Kirkland sees demand. Executive compensation has become a fixed feature of transactions involving management transitions, ownership changes, and financial sponsor investments.

What does the appointment change?

Kirkland says Conway's arrival strengthens its ability to coordinate executive compensation advice with its private equity, M&A, and tax practices. Jon A. Ballis, chairman of Kirkland's executive committee, framed the hire as a fit with the firm's existing machine.

"Matt is a terrific executive compensation lawyer with a practical, commercial approach that has earned the trust of leading sponsors, companies and executives," Ballis said. "Executive compensation issues are critical in complex transactions, especially as deal structures and market conditions evolve. Matt's experience will be a great fit with our premier private equity, M&A and tax teams, and we're excited to welcome him to Kirkland."

Takeaway: Kirkland is buying transactional depth, not building a new practice from scratch.

Why private equity cares about compensation lawyers

Private equity firms routinely build compensation structures designed to align management incentives with the financial performance and long-term objectives of portfolio companies. Those structures typically include equity participation, performance-based incentive programs, deferred compensation, and retention agreements.

Conway advises on the design and implementation of these arrangements, along with employment and separation agreements for executives. He also helps clients evaluate how compensation programs interact with broader strategic and financing objectives.

For businesses undergoing ownership changes, structured compensation can preserve leadership continuity and set incentives for incoming management teams. The caveat is standard in this field: a well-drafted plan is only as good as the deal economics underneath it.

Takeaway: compensation design is now inseparable from deal execution in sponsor-led transactions.

Section 409A expertise

Conway brings regulatory credentials beyond the deal table. He is a contributing author to Bloomberg's Section 409A Handbook, a professional reference on the rules governing nonqualified deferred compensation.

Section 409A compliance can carry significant consequences when companies structure deferred payments, equity awards, and other executive compensation programs. A misstep in deferral elections or payment timing can trigger immediate taxation plus penalties for executives — which is why this expertise commands fees.

Kirkland says this background adds specialized knowledge to its existing advisory platform.

Takeaway: the hire covers regulatory risk as well as deal structuring.

What Conway said about the move

Conway presented the switch as a platform play rather than a retreat from Latham.

"Kirkland's unparalleled transactional platform, exceptional talent and collaborative culture make it an ideal place to continue growing my practice advising clients on executive compensation, retention and incentive matters," Conway said. "I'm thrilled to join the Firm and look forward to working with my new colleagues across the platform."

He will work directly with executives on employment terms, incentive arrangements, and separation agreements, in addition to sponsor-side mandates.

What comes next

Kirkland expects Conway to collaborate with attorneys across its private equity, M&A, and tax teams while expanding relationships with financial sponsors and corporate clients. The firm's transactional business serves private equity firms, corporations, and investors involved in acquisitions, financing arrangements, and other strategic activity, and Conway adds capacity on compensation issues that surface throughout the investment lifecycle.

Neither firm disclosed the terms of the move or Conway's expected book of business. Kirkland's bet, restated plainly: as deal structures and market conditions grow more complex, compensation counsel becomes a required line item on every sponsor transaction — and the firm intends to sell that line item at scale.