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Ares Management names CEO

Ares Management LP has made several executive appointments, effective Jan. 1, 2018.

The company named co-founder and President Michael Arougheti CEO. He has served as director and president of the company since 2014. Co-founder, CEO and Chairman Tony Ressler will continue as executive chairman of the company and will primarily focus on major client marketing, corporate strategy and brand-building activities.

CFO Michael McFerran will additionally serve as COO. He joined the company in 2015.

Ryan Berry, who is currently strategy and relationship management group's head, was named chief marketing and strategy officer. Berry joined Ares in 2005. Berry and McFerran will also join the board of Ares Partners Holdco LLC, the sole owner of Ares' general partner.