Top Ares exec removed for inappropriate conduct

Former Ares exec loses more than $50m in unvested compensation.

Jarrod Phillips was appointed new chief financial officer of Ares Management after Michael McFerran, Ares’ highly compensated CFO, COO, was removed for engaging in inappropriate conduct, according to company filings. Ares estimated that McFerran left behind more than $50 million in compensation that would have vested by 2026.

Email prepared by Jack Willoughby