Ares Management Appoints Michael Arougheti As CEO - Quick Facts

(RTTNews) - Ares Management L.P. (ARES) said Monday that it has made several executive appointments, effective January 1, 2018. Co-Founder and President Michael J Arougheti has also been named Chief Executive Officer of the company. Co-Founder, Chief Executive Officer, and Chairman Tony Ressler will continue as Executive Chairman of Ares Management where he will primarily focus on major client marketing, corporate strategy and brand building activities for the firm.

Chief Financial Officer Michael McFerran has also been appointed as Ares' Chief Operating Officer in addition to continuing to serve as Ares' Chief Financial Officer. He will now oversee all of Ares' Finance and Accounting, Information Technology, Operations and Human Resources activities.

Head of Ares' Strategy & Relationship Management Group Ryan Berry is being appointed to Chief Marketing & Strategy Officer.

Ryan Berry and Michael McFerran will also join the board of Ares Partners Holdco LLC, the sole owner of the general partner of Ares, and will serve alongside current members Michael Arougheti, Tony Ressler, Co-Founders and Global Private Equity Co-Heads David Kaplan and Bennett Rosenthal and Global Head of Credit Kipp deVeer. Michael Weiner will continue to independently advise the board in his role as Chief Legal Officer.