Ares Wealth Management Solutions Expands Team and Global Footprint Mark Serocold Joins Firm to Lead EMEA Efforts

Rhea-AI Summary

Ares Management Corporation (NYSE: ARES) appointed Mark Serocold as Partner and Head of EMEA for Ares Wealth Management Solutions (AWMS) in London. Serocold, with nearly 20 years of private wealth distribution experience, previously worked at Blackstone. His role will focus on product development and strategic partnerships in EMEA, supported by additional hires in sales and client services. The wealth management sector is expected to see significant asset growth, increasing from $38 trillion in 2021 to $54 trillion by 2024, presenting opportunities for Ares.

Positive

• Mark Serocold's extensive experience in private wealth distribution could enhance Ares' strategic partnerships and product development in EMEA.
• The increasing investment from high net worth individuals in EMEA presents growth potential for Ares' wealth management solutions.

Negative

• None.

Mr. Serocold Joins Ares with Over 20 Years of Private Wealth Distribution Experience Across Europe and Asia to Support Rapidly Growing Base of Global Individual Investors

LONDON--(BUSINESS WIRE)-- Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that Mark Serocold has joined the firm as a Partner and Head of EMEA for Ares Wealth Management Solutions (“AWMS”). Based in London, Mr. Serocold’s newly created role will oversee product development, distribution and strategic partnerships across the EMEA region for AWMS. In addition to Mr. Serocold, Ares recently hired three additional team members across sales, client services and product development to support AWMS’s efforts in EMEA.

Mr. Serocold has nearly 20 years of private wealth distribution experience across Europe and Asia. Prior to joining Ares, Mr. Serocold spent the last four years as a Managing Director at Blackstone in London, where he helped build and oversee the firm’s Private Wealth Solutions Group in EMEA. Prior to joining Blackstone, Mr. Serocold was at Neuberger Berman supporting intermediary sales in both Hong Kong and London. Mr. Serocold graduated from the University of Bristol where he earned a B.A. in Spanish.

“High net worth individuals in Europe, the Middle East and Asia invested over $38 trillion of assets in 2021, and by 2024, are projected to have $54 trillion to put to work, with their allocation to private markets expected to double. With this significant growth opportunity for our industry, we are committed to building out dedicated wealth management teams that cater to the growing retail opportunity in these regions and Mark’s hiring is a key step in that process,” said Raj Dhanda, Ares’ Global Head of Wealth Management. “Bringing Mark’s extensive experience and accomplished record in private wealth solutions to Ares and the ongoing build out of his EMEA team reflect our commitment to expanding access to Ares’ industry-leading investment capabilities and market insights for individual investors.”

“I am thrilled to be joining Ares and helping lead one of the largest fundraising and client service teams dedicated to the wealth management channel amongst our peers,” said Mr. Serocold. “As Ares looks to strategically partner on innovative solutions across its credit, private equity, real estate and secondaries strategies for individual investors, I look forward to leveraging my experience in the private wealth solutions space to help expand the depth and breadth of its relationships with financial intermediaries.”

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) 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, please visit www.aresmgmt.com.

Ares Wealth Management Solutions

Ares Wealth Management Solutions (AWMS) oversees the product development, distribution, marketing and client management activities of investment offerings for the global wealth management channel. With a team of approximately 117 professionals and backed by the power and scale of the Ares platform, AWMS represents one of the most resourced wealth distribution and client service teams in the alternatives industry. AWMS’ mission is to provide advisors and their clients access to innovative, solutions-oriented investment opportunities, across the Ares platform of industry leading credit, private equity, real estate and secondaries strategies. Through our range of institutional and retail structures, coupled with excellent client service and educational resources, we help investors diversify their portfolios with private market solutions that seek to deliver consistent, long-term growth.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221101006351/en/

Media:

Europe

media.europe@aresmgmt.com



U.S.

Priscila Roney, +1 212-808-1185

or

Brittany Cash, +1 212-301-0347

Media@aresmgmt.com

Source: Ares Management Corporation

FAQ

What new position has Mark Serocold taken at Ares Management Corporation?

Mark Serocold is now the Partner and Head of EMEA for Ares Wealth Management Solutions.

What is the projected growth of assets for high net worth individuals in EMEA by 2024?

Assets for high net worth individuals in EMEA are projected to grow from $38 trillion in 2021 to $54 trillion by 2024.

How many new team members has Ares hired to support AWMS in EMEA?

Ares has recently hired three additional team members to support AWMS's efforts in EMEA.

Where is Ares Management Corporation headquartered?

Ares Management Corporation is headquartered in London.

What experience does Mark Serocold have prior to joining Ares Management Corporation?

Mark Serocold has nearly 20 years of experience in private wealth distribution, recently serving as Managing Director at Blackstone.