Summary
Ares Management Corporation (ARES) has announced a significant leadership transition, appointing R. Kipp deVeer and Blair Jacobson as Co-Presidents, effective February 5, 2025. This move sees Michael J Arougheti stepping down from the President role, though he will continue as Chief Executive Officer and a member of the Board. Both new Co-Presidents are seasoned leaders within Ares, bringing extensive experience from various credit and investment groups within the firm. This appointment reflects a strategic alignment of operational leadership at the presidential level, likely aimed at further enhancing the company's growth and operational efficiency across its diverse investment strategies. Investors should note that the continuity of Michael J Arougheti as CEO ensures a stable strategic vision, while the elevation of deVeer and Jacobson suggests a deepening of the management bench and a clear path for succession and specialized leadership within the organization.
Key Highlights
- 1Ares Management Corporation appoints R. Kipp deVeer and Blair Jacobson as Co-Presidents, effective February 5, 2025.
- 2Michael J Arougheti transitions from President to continue solely as CEO and Board member.
- 3Both deVeer and Jacobson are existing Partners and have held significant leadership roles within Ares' credit and investment groups.
- 4Mr. deVeer previously led the Ares Credit Group and has a background in private equity and investment banking.
- 5Mr. Jacobson previously served as Co-Head of European Credit and has experience in private debt, equity, and investment banking.
- 6The company issued a press release on February 5, 2025, to announce these leadership changes.