People Moves: Ares Management Corporation appoints Ashish Bhutani to Board of Directors
Company Release - Ares Management Corporation (NYSE: ARES) ("Ares") announced on Thursday that Ashish Bhutani has joined its Board of Directors (the "Board") as an independent director. With Mr. Bhutani's appointment, the Board now comprises 11 members, including six independent directors.
Mr. 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 Chief Executive Officer of Lazard Asset Management ("LAM"), Vice Chairman of Lazard Ltd ("Lazard"), 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. Prior to joining Lazard in 2003, Mr. Bhutani worked at Wasserstein Perella Group and its successor company, Dresdner Kleinwort Wasserstein, where he was Co-Chief Executive Officer, 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 Chief Executive Officer of Wasserstein Perella Securities from 1994 to 2001. Mr. Bhutani joined Wasserstein Perella in 1989, after starting his career at Salomon Brothers in 1985.
"Throughout his career, Ashish has been a transformative leader in building and managing global asset management businesses," said Tony Ressler, Executive Chairman and Co-Founder of Ares. "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."
"Ashish brings deep industry knowledge, capital markets expertise and senior management experience to our Board," said Michael Arougheti, Chief Executive Officer and President of Ares. "We are pleased to continue to enhance the diverse representation on our Board, and 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."
"I am excited to join the Ares Board of Directors at such a significant inflection point for the business," said Mr. Bhutani. "Ares has established a very strong reputation in the global market today and 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 a number of 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.
Source: Ares Company Release