The US-listed business is developing its wealth management arm in Asia.

Ares Management Corp, a New York-listed alternative investment house, has appointed a former senior HSBC figure to drive its business growth in Asia in the wealth management space.

The firm has appointed Henry Lee as head of Asia for Ares Wealth Management Solutions. He will be joining the Hong Kong office, and reporting to Raj Dhanda, Ares’ global head of wealth management in AWMS. In his newly-created role, Lee will oversee retail product development, distribution and strategic distribution partnerships across Asia. 

Lee worked at HSBC for 16 years, serving as global head of discretionary portfolio management and head of alternative investments for HSBC’s global private bank. Prior to that, he worked in varying capacities at HSBC’s Hong Kong and London offices. 

“Henry’s addition and the build-out of AWMS’ capabilities globally reflect our commitment to expanding access to Ares’ leading investment strategies and market insights for individual investors,” Michael Arougheti, chief executive and president of Ares, said.

The business had about $325 billion of assets under management as of 31 March, and a total of 2,100 staff in locations around the world.