WASHINGTON — Frederic "Rick" L. Ballard Jr., who helped transform his great-grandfather's small law office into the national firm of Ballard Spahr with more than 500 lawyers and a sizeable public finance practice, died unexpectedly on Sunday, May 11 at age 72.
He had been battling lung cancer for almost two years, although few were aware of this, and had insisted on continuing to work through the illness, emailing and calling colleagues the day before he died.
Lawyers in the muni market were shocked and said Ballard was a highly respected lawyer who mentored many, wrote a go-to book on arbitrage (ABCs of Arbitrage), and contributed significantly to projects undertaken by the National Association of Bond Lawyers and the American Bar Association's tax-exempt financing committee.
"He was a terrific guy," said Walter St. Onge, a partner at Edwards Wildman Palmer LLP on Boston and former NABL president. "It's terrible loss for our industry and his colleagues at Ballard, at NABL and across the country."
"He was an outstanding practitioner, a scholar, and tremendous contributor to the public finance industry and to NABL in particular, " said Allen Robertson, current NABL president and partner at Robinson, Bradshaw & Hinson, P.A. in Charlotte, N.C., who noted Ballard was one of the few to ever win two of the group's most prestigious awards.
In presenting Ballard with the Bernard P. Friel Medal for Service in Public Finance in 2005, Foster Clark, a partner at Balch & Bingham LLP in Birmingham, Ala., and former NABL president, quipped, "I believe we can all agree that Rick Ballard has done more than any other person in the history of western civilization to educate the Treasury Department and the IRS about the law and regulations affecting tax-exempt bonds."
He also won the Frederick O. Kiel Distinguished Service Award in 2007.
Ballard joined Ballard Spahr's Philadelphia office as an associate in 1966. He became a partner in 1973, following his father and grandfather — both named Frederic L. Ballard — into the firm, which was founded in the late 1800s by his great-grandfather, Ellis Ames Ballard. In 1978, he established the firm's first office outside of Philadelphia, in Washington, D.C. He served as managing partner of that office from 1978 to 1995, as chair of the firm's public finance department from 1995 to 2000 and as chair of the firm's financial planning and management department from 2000 to 2006. He most recently was practice leader of the firm's tax and exempt organizations groups.
Robertson said Ballard was "a great teacher, a real mentor and friend to bond lawyers across the country."
There were several testimonials along these lines. "Rick was always the consummate gentleman, a renaissance man, and always generous with his time. He will be missed by all of us," said Dave Caprera, a partner at Kutak Rock in Denver. "The first time I worked with Rick, I was a young tax lawyer and I told him that I disagreed with his tax analysis. Now, he could have dismissed me as being the brash punk that I was, but rather he proceeded to spell out, with patience and intellectual honesty, why he thought the way he did. I always appreciated the fact that he treated others with respect, sometimes more than they deserved."
Hobby Presley, a partner at Balch & Bingham and former NABL president, had a similar experience. "He was the consummate scholar of the law and a true gentleman," Presley said. "When I was a fledgling bond lawyer he treated me with kindness, never condescending or dismissive about my obvious lack of experience. He never hurried me through my lame questions, never tired of leading me in the right direction. I admired him for that and was honored to consider him a real friend."
Richard Chirls, a partner at Orrick, Herrington & Sutcliffe in New York, and a former NABL president, said Ballard, "volunteered for programs, worked hard on them and provided tremendous insight." Chirls said he worked with him on several transactions. "He was a pleasure to work with, always respectful of everyone in the transaction."
"Rick was always there, able and willing to get the project accomplished," when working on NABL and ABA initiatives, said Carol Lew, a partner at Stradling Yocca Carlson & Rauth in Newport Beach, Calif., and a former NABL president. "He was prolific, patient and creative and has helped shape the law of tax-exempt bonds."
Howard Zucker, a partner at Hawkins, Delafield & Wood in New York, and a former NABL president, summed up the sentiments of many when he said, "Rick's passing is a great loss to all who knew him. He was a giant in the profession and the classiest person in the municipal bond industry."
He was known for his dedicated community service and his lifelong support of women's issues, following in the footsteps of his mother, Ernesta Drinker Ballard, who founded the Philadelphia chapter of the National Organization for Women and co-founded Women's Way, an influential funding organization. Ballard and his wife received the first Visionary Award from the Washington Area Women's Foundation in 2013 for their longtime service to the organization. He and his wife were involved in a play-reading group, where he was both producer and actor, and he had a passion for the arts, literature and baseball, according to his firm and colleagues.
In addition to his wife, of 39 years, Ballard is survived by his daughter, Annie Ballard; his stepsons, William and Robert Dunning; his sisters, Sophie Ballard Bilezikian, Ernesta Ballard and Alice Ballard; and two grandchildren.
A service to celebrate Ballard's life will be held in late May or June. Details will follow on Ballard Spahr's website. Memorial donations in his name can be made to the following organizations: Washington Area Women's Foundation, 1313 H St., NW, Suite 1000, Washington, D.C. (202) 347-7737 and Samaritan Inns (Development Office) 2523 14th St., NW, Washington, D.C. 20009.
