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Ares Commercial Real Estate Corp (ACRE.N)

ACRE.N on New York Stock Exchange

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26 Jul 2016
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Summary

Name Age Since Current Position

Robert Rosen

69 2015 Chairman of the Board, Interim Co-Chief Executive Officer

John Jardine

64 2015 President, Co-Chief Executive Officer, Director

Tae-Sik Yoon

47 2012 Chief Financial Officer

Michael Weiner

63 2012 Vice President, General Counsel

Michael Arougheti

43 2014 Non-Executive Director

Rand April

65 2016 Independent Director

Caroline Blakely

60 2014 Independent Director

William Browning

61 2014 Independent Director

John Bryant

50 2012 Independent Director

James Skinner

62 2016 Independent Director

Biographies

Name Description

Robert Rosen

Mr. Robert L. Rosen is Chairman of the Board, Interim Co-Chief Executive Officer of the Company. He was Chairman of the Board of Ares Commercial Real Estate Corporation., effective October 17, 2014. Mr. Rosen is managing partner of RLR Capital Partners, which invests principally in the securities of publicly traded North American companies. From 1987 to present, Mr. Rosen has been CEO of RLR Partners, LLC, a private investment firm with interests in financial services, healthcare media and multi industry companies. He has served as a director of Ares Capital Corporation since 2004 and previously served as a director of Sapient Corporation. Mr. Rosen is also an Operating Advisor to the Ares Management Private Equity Group. In 1998, Mr. Rosen founded National Financial Partners (NYSE: NFP) ("NFP"), an independent distributor of financial services to high net worth individuals and small to medium sized corporations. He served as NFP's CEO from 1998 to 2000 and as its Chairman until January 2002. From 1989 to 1993, Mr. Rosen was Chairman and CEO of Damon Corporation, a leading healthcare and laboratory testing company that was ultimately sold to Quest Diagnostics. From 1983 to 1987, Mr. Rosen was Vice Chairman of Maxxam Group. Prior to that, Mr. Rosen spent twelve years at Shearson American Express in positions in research, investment banking and senior management, and for two years was Assistant to Sanford Weill, the then Chairman and CEO of Shearson. Mr. Rosen is a member of the NYU Stern School of Business Board of Overseers.

John Jardine

Mr. John W. Jardine is President, Co-Chief Executive Officer, Director of Ares Commercial Real Estate Corporation. Since joining Ares in 2013, Mr. Jardine has led the debt origination strategy for ACRE, including its mortgage banking subsidiary ACRE Capital LLC. Mr. Jardine is a seasoned real estate investor, having spent more than 20 years at TIAA-CREF, where he negotiated and closed large transactions and oversaw the performance of several multi-billion dollar commercial real estate portfolios. Mr. Jardine also led the formation of TIAA Realty, Inc., a private real estate investment trust. Prior to joining Ares, Mr. Jardine was a Managing Director with C-III Asset Management, a primary and special loan servicer. Additionally, Mr. Jardine worked as a Managing Director focusing on commercial mortgage-related credit strategies for ZAIS Group, an investment management company focused on specialized credit strategies.

Tae-Sik Yoon

Mr. Tae-Sik Yoon has been appointed as Chief Financial Officer of Ares Commercial Real Estate Corporation., effective July 09, 2012. Mr. Yoon has more than 20 years of commercial real estate finance, investment banking and legal experience with private and public companies. Mr. Yoon also serves as Chief Financial Officer of Ares Real Estate Group and is on the Ares Real Estate Group's U.S. Equity, Europe/India Equity, and Real Estate Debt Investment Committees. Prior to joining Ares Management in July 2012, Mr. Yoon served as Senior Vice President of Akridge, a privately held commercial real estate investment and services company, where he was responsible for its capital markets activities since 2010, including the development of funds, joint ventures and capital relationships. From 1999 to 2009, Mr. Yoon held various positions at J.E. Robert Companies, Inc. and its affiliates, including as Managing Director from 2003 to 2005 and Chief Financial Officer from 2005 to 2009, and was involved in the formation and management of several real estate private equity funds, a public commercial mortgage REIT (JER Investors Trust Inc.) and the firm's operating platforms in the U.S. and abroad. Mr. Yoon also served in the real estate investment banking group at Morgan Stanley & Co. from 1989 to 1991, and again from 1997 to 1999, and was an attorney at the law firm of Williams & Connolly LLP from 1994 to 1997.

Michael Weiner

Mr. Michael D. Weiner serves as Vice President, General Counsel of Ares Commercial Real Estate Corporation. Mr. Weiner is the Executive Vice President and Chief Legal Officer of Ares Management GP LLC, Ares' general partner. Mr. Weiner joined Ares Management in September 2006 and is a member of its Management Committee. He may from time to time serve as an officer, director or principal of entities affiliated with Ares Management or of investment funds managed by Ares Management and its affiliates. Mr. Weiner has been an officer of Ares Capital Corporation since 2006, including General Counsel from September 2006 to January 2010, and also serves as Vice President of Ares Dynamic Credit Allocation Fund, Inc. and Ares Multi-Strategy Credit Fund, Inc. Previously, Mr. Weiner served as General Counsel to Apollo Management L.P. and had been an officer of the corporate general partner of Apollo since 1992. Prior to joining Apollo, Mr. Weiner was a partner in the law firm of Morgan, Lewis & Bockius specializing in corporate and alternative financing transactions, securities law, as well as general partnership, corporate and regulatory matters. Mr. Weiner has served from time to time on the boards of directors of several corporations. Mr. Weiner also serves on the Board of Governors of Cedars-Sinai Medical Center in Los Angeles.

Michael Arougheti

Mr. Michael J. Arougheti serves as Non-Executive Director of Ares Commercial Real Estate Corporation. Mr. Arougheti is a Co-Founder of Ares Management, L.P. [NYSE: ARES] ("Ares Management" or "Ares"), Co-Head of its Direct Lending Group and a member of its Management Committee. He serves as a director and President of Ares Management GP LLC and also serves as Co-Chairman of the Board Directors and Executive Vice President of Ares Capital Corporation. Mr. Arougheti may from time to time serve as an officer, director or principal of entities affiliated with Ares Management or of investment funds managed by Ares Management and its affiliates. Prior to joining Ares Management in 2004, Mr. Arougheti was employed by Royal Bank of Canada from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee. Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle-market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. Mr. Arougheti joined Royal Bank of Canada in October 2001 from Indosuez Capital, where he was a Principal and an Investment Committee member, responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. Prior to joining Indosuez in 1994, Mr. Arougheti worked at Kidder, Peabody & Co., where he was a member of the firm's Mergers and Acquisitions Group. Mr. Arougheti also serves on the boards of directors of Investor Group Services, Riverspace Arts, a not-for-profit arts organization and Operation Hope, a not-for- profit organization focused on expanding economic opportunity in underserved communities through economic education and empowerment.

Rand April

Mr. Rand Scott April is Independent Director of the Company. He was a Partner of Skadden, Arps, Slate, Meagher & Flom LLP, an international law firm, from 1981 until 2013 and served as the Managing Partner of Skadden’s Los Angeles office from 1994 until 2012. Subsequent to Mr. April’s retirement as a Partner in 2013 he was Of Counsel of Skadden until April 2016. During his time at Skadden, Mr. April had an extensive real estate and finance practice, regularly advising both U.S. and international clients in transactions involving a wide variety of real estate asset classes. He has extensive experience with the public and private offering of various types of real estate securities, including REIT and securitized debt offerings. Mr. April is also a longtime board member and former Chairman of Public Counsel Law Center, the nation’s largest pro bono law firm serving the indigent, where he was interim President and Chief Executive Officer in 2015, and is a board member of Town Hall Los Angeles, where he served as Chairman from 2010 to 2011. He currently serves as a member of the Advisory Board of the Los Angeles Sports and Entertainment Commission. Mr. April holds a B.A., phi beta kappa, from Northwestern University and a J.D. from Columbia University School of Law, where he was a Harlan Fiske Stone Scholar.

Caroline Blakely

Ms. Caroline E. Blakely is an Independent Director of Ares Commercial Real Estate Corporation. Ms. Blakely is a partner in the Real Estate Group at Cassin & Cassin LLP, a law firm providing legal services that focus on real estate finance, real estate transactions and private client services. Prior to joining Cassin & Cassin LLP, Ms. Blakely served as a Vice President of the multifamily business of the Federal National Mortgage Association ("Fannie Mae") from April 1999 to October 2013. In this capacity, Ms. Blakely defined the strategic direction for Fannie Mae's growing asset management and counterparty responsibilities. In addition, Ms. Blakely was responsible for mitigating the financial and operational risk of 24 DUS Lenders, including assessing the counterparty's capital adequacy to share risk with Fannie Mae. She initiated performing note sales and negotiated the first sale of multifamily mortgage servicing rights. Ms. Blakely also served as Chief Marketing Officer of National Cooperative Bank ("NCB") and as Senior Managing Director of NCB's Corporate Banking and Commercial Real Estate Divisions from 1992 to 1999, during which time she served as a member of NCB's Executive Committee and as President of NCB Capital Corporation. In 1980, Ms. Blakely founded a law firm specializing in structured finance and real estate lending for acquisition, development and construction loans, where she practiced until 1992. Ms. Blakely currently serves on the executive committee of the Urban Land Institute's Women's Leadership Initiative and volunteers on the Board of Trustees for Global Communities, a non-profit organization specializing in international development and microfinance.

William Browning

Mr. William L. Browning is an Independent Director of Ares Commercial Real Estate Corporation. Mr. Browning has dedicated his time to serving on boards of directors since January 2012. From 1999 to January 2012, Mr. Browning was a senior client service partner at Ernst & Young LLP, a global leader in assurance, tax, transaction and advisory services. From 2008 to 2012, Mr. Browning served as the managing partner for Ernst & Young LLP's Los Angeles office, which at the time of his departure was Ernst & Young LLP's second largest practice in the Americas and the largest public accounting firm in Los Angeles with over 1,200 professionals and over $400 million in annual revenues. Mr. Browning's extensive industry sector experience includes: real estate and REITs, financial services (commercial banks, asset management, consumer finance, credit card and mortgage companies), private equity, energy (upstream/downstream, refining and natural gas), engineering and construction, and technology. Before joining Ernst & Young LLP, Mr. Browning began his professional career with Arthur Andersen & Co. in 1976, where he was admitted to partnership in 1987 and named office managing partner of its Oklahoma office in 1994. At Arthur Andersen & Co. in Oklahoma and in Los Angeles, California, Mr. Browning served clients in a wide variety of industries and led the firm's domestic banking practice and regulatory compliance practice. Mr. Browning serves on the board of directors of McCarthy Holdings, the holding company for McCarthy Building Companies, Inc., one of the top 10 U.S. commercial builders and the oldest American construction company, the board of directors of Parsley Energy, Inc., an independent oil and natural gas company, as well as on the board of directors of Community Bank, based in Pasadena, California and Blackbrush Oil and Gas LP, based in San Antonio, Texas. Mr. Browning is also an adjunct professor at Southern Methodist University in Dallas.

John Bryant

Mr. John Hope Bryant is an Independent Director of Ares Commercial Real Estate Corporation,, since April 2012. Mr. Bryant is the founder, chairman, and chief executive officer of Operation HOPE, America's first non-profit social investment banking organization which began in May 1992 and operates as a global provider of financial dignity and economic empowerment tools and services to low-wealth individuals. Mr. Bryant is also the founder and chief executive officer of Bryant Group Companies, Inc., a private holding company which began in 1991 and invests principally in its own operations, partnerships, companies and opportunities, including Bryant Group Real Estate, LLC. On February 26, 2014, Mr. Bryant was appointed by U.S. President Barack Obama to serve on his new U.S. President's Advisory Council on Financial Capability for Young Americans, focused on the next generation of young leaders. Mr. Bryant is also the author of HOW THE POOR CAN SAVE CAPITALISM and LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World. He was the recipient of an Honorary Doctorate Degree of Human Letters from Paul Quinn College of Dallas, TX, in April 2008.

James Skinner

Mr. James E. Skinner is Independent Director of the Company. He held various senior management positions with The Neiman Marcus Group LLC from June 2005 until his retirement in March 2016, including serving as Vice Chairman between May 2015 and March 2016, Executive Vice President, Chief Operating Officer and Chief Financial Officer between October 2010 and May 2015, and prior to that date served as Executive Vice President and Chief Financial Officer of The Neiman Marcus Group, Inc. from October 2001 to October 2005. Mr. Skinner served as Senior Vice President and Chief Financial Officer of CapRock Communications Corp. in 2000, and served as Executive Vice President, Chief Financial Officer and Treasurer of CompUSA Inc. from 1994 until 2000. Mr. Skinner also served as a partner with Ernst & Young from 1987 until 1991. Mr. Skinner serves on the board of directors of Fossil Group, Inc. (NASDAQ:FOSL), a global design, marketing and distribution company of consumer fashion accessories. Mr. Skinner holds a B.B.A. from Texas Tech University and is a certified public accountant in Texas.