– USA, NY – Ares Management Corporation (NYSE: ARES) today announced the appointment of Ashish Bhutani to its Board as an independent director, bringing the board to 11 members, of whom six are independent.
“Throughout his career, Ashish has been a transformative leader in building and managing global asset management businesses. With his demonstrated leadership in driving innovative and entrepreneurial cultures, we are confident that Ashish will bring invaluable experience, strategic vision and diverse insights to support Ares in its continued growth” said Executive Chairman and Co-Founder, Tony Ressler.
CEO, Michael Arougheti added, “Ashish brings deep industry knowledge, capital markets expertise, and senior management experience to our Board. We are pleased to continue to enhance the diverse representation on our Board. We look forward to leveraging Ashish’s perspective and unique skillset as we seek to advance our differentiated position within the alternative investment landscape while continuing to deliver significant shareholder value.”
About Ashish Bhutani
Ashish Bhutani is a longstanding executive in the global asset management industry with over 25 years of experience. Most recently, Mr. Bhutani served as Chairman and CEO of Lazard Asset Management, Vice-Chairman of Lazard Ltd, LAM’s parent company, and was a member of the Board of Directors of Lazard from 2010 through June 1, 2022. As of November 30, 2022, Lazard managed approximately $221.0 billion of assets across a wide range of global, regional, and country-specific strategies – both traditional and alternative – in listed equity and fixed income. Before joining Lazard in 2003, Mr. Bhutani worked at Wasserstein Perella Group and its successor company, Dresdner Kleinwort Wasserstein, where he was Co-CEO, of North America, and a member of the Global Executive Committee from 2001 through 2002. Mr. Bhutani served as Deputy Chairman of Wasserstein Perella Group and CEO of Wasserstein Perella Securities from 1994 to 2001. Mr. Bhutani joined Wasserstein Perella in 1989, after starting his career at Salomon Brothers in 1985.
“I am excited to join the Ares Board of Directors at such a significant inflection point for the business,” said Ashish Bhutani. “Ares has established a solid reputation in the global market today. I look forward to collaborating with my colleagues to support the Firm’s strategic plans for continued expansion and product development.”
Mr. Bhutani is active in several philanthropic organizations, primarily focused on hunger relief and education. He is a Board member of City Harvest and a Board member for Children’s Aid. Mr. Bhutani is also a member of the Council on Foreign Relations.
He holds a Bachelor of Science from Concordia College and a Master of Business Administration from Pace University.
About Ares Management Corporation
Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate, and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2022, Ares Management Corporation’s global platform had approximately $341 billion of assets under management, with over 2,450 employees operating across North America, Europe, Asia Pacific, and the Middle East.
For more information, visit www.aresmgmt.com.
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