LOS ANGELES--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that John Kissick, now a retired Co-Founder of Ares, is stepping down from the Ares Board of Directors, effective immediately.
Mr. Kissick was a Co-Founder of Ares in 1997, and for the next nearly two decades, he helped lead the firm as a Partner and by serving on Ares’ Management Committee as well as several of the firm’s investment committees.
Prior to co-founding Ares, Mr. Kissick was an early builder of Drexel Burnham and Apollo Management. He co-founded Apollo Management, L.P. in 1990 during which time he oversaw and led its capital markets activities from 1990 until 1997, focusing on high yield bonds, leveraged loans, distressed debt and other fixed income assets. Prior to 1990, Mr. Kissick was a Senior Executive Vice President of Drexel Burnham Lambert Inc., where he began in 1975, eventually heading its Corporate Finance Department.
Tony Ressler, Executive Chairman and Co-Founder of Ares, said, “There are so many impressive qualities and achievements that come to mind when describing John—his judgment in the investment world, his composure, his ability to keep his focus in rapidly changing markets and, of course, his uncanny sense to always see the big picture. While these professional accomplishments are noteworthy, they feel secondary to John’s true importance to me and to Ares over our 30-plus years of working together, dating back to 1985 when he hired me as an associate at Drexel. In short, Ares’ entire philosophy has been and will always be based on John’s view of how to build a great business: ‘just do what you think is the right thing’—not necessarily the most profitable, not necessarily the most creative—just what you think we’d all be most proud of.”
Michael Arougheti, Chief Executive Officer and President of Ares, added, “We were incredibly grateful for John’s continued counsel as a member of the Board following his announced retirement. John’s commitment to integrity and persistent dedication to always doing the right thing has been imprinted on our firm and will always remain cornerstones for how we do business. We wish him and his family all the best in retirement.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $149 billion of assets under management as of December 31, 2019 and employs approximately 1,200 employees in over 20 offices in more than 10 countries. Please visit www.aresmgmt.com for additional information.