Ares recruits new CFO from KKR

Ares Management has appointed Michael McFerran as executive vice president, chief financial officer and treasurer, effective March 23. McFerran will assume firm-wide CFO and treasurer responsibilities at the $86 billion alternative investment firm. He was previously the chief financial and operating officer at KKR’s credit group.

At Ares, McFerran takes over the role from Daniel Nguyen, Ares Management’s current chief financial officer and treasurer, who will remain with the firm and take on the responsibilities of chief financial officer within Ares’ private equity and tradable credit groups. The chief financial officer roles for direct lending and real estate will continue to be overseen by Penni Roll and Tae-Sik Yoon, respectively. Roll will also continue as chief financial officer of the Ares Capital Corporation (ARCC) BDC and Yoon will remain the chief financial officer of Ares Commercial Real Estate Corporation (ACRE).

McFerran had been with KKR since 2005. Prior to joining KKR, he spent most of his career at Ernst & Young in its financial services industry practice, where he specialized in providing assurance and advisory services to a diverse mix of financial services firms.

“We are confident that his leadership, expertise and deep knowledge of finance and accounting, including his significant public company experience, will benefit Ares and its employees and investors as we continue to grow our platform,” said president of Ares Management Michael Arougheti in a statement.