Ares Management is set to establish dedicated wealth management teams in Asia to cater to the growing retail opportunity across the region.

The firm has hired Henry Lee to lead its Asia efforts as part of Ares Wealth Management Solutions (AWMS).

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Lee will join as a partner in AWMS’ Hong Kong office and will report to Ares’ AWMS global head of Wealth Management Raj Dhanda.

In his newly created role, Lee will be responsible for retail product development, distribution and strategic distribution partnerships across Asia.

He will also work to scale up the depth and breadth of Ares’ relationships with financial intermediaries with the aim of striking strategic partnerships on innovative solutions across Ares’ primary and secondary solutions in credit, private equity, real estate and infrastructure strategies for retail investors.

Ares CEO and president Michael Arougheti said: “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.

“Through our expanding range of institutional and retail vehicles, coupled with excellent client service and educational resources, we believe Ares is well-positioned to support individual investors’ growing demand for high-quality private market solutions across the Asia region.”

Lee has over 17 years of experience in the private banking and investment management space. Before joining Ares, he worked at HSBC for 16 years.

During this time, he served a number of key roles including global head of Discretionary Portfolio Management and head of Alternative Investments for HSBC’s Global Private Bank.

Commenting on his new role, Lee said: “I am excited to join Ares as the firm continues to expand its platform offering to private wealth clients around the globe.

“Backed by Ares, a global leader in alternatives with a wide range of institutional quality alternative products, I believe that AWMS is attractively positioned for growth and will be well received by retail investors throughout Asia.”

Dhanda added: “With approximately 105 professionals and backed by the power and scale of the Ares platform, AWMS represents one of the most resourced private wealth distribution platforms in the alternatives industry. We believe that the extension of our wealth platform in Asia will help to further bolster our strong position in the market.”