Ares Management LLC — Charles Steel has joined the Ares Private Equity Group as a managing director and will be based in London. Most recently, he served as an adviser to former U.K. Prime Minister Tony Blair on finance and business development at the Office of the Quartet Representative in Jerusalem. Steel previously worked at the Carlyle Group LP (NASDAQ: CG) from 2001 to 2010 in European leveraged buyouts. Prior to that, he was a member of the investment banking division of Goldman Sachs Group Inc. (NYSE: GS) since 1998. Ares is based in Los Angeles.
Bank of America Merrill Lynch (NYSE: BAC) — Tracy Caliendo is slated to join the New York investment bank in September. As a managing director, she will head the Americas equity hedge fund services division. Caliendo was with Goldman Sachs since 1997 where, most recently, she was a managing director and co-head of Americas electronic trading sales and coverage. She was also responsible for senior relationship management of its hedge fund business across the bank’s equity platform. She began her career as a financial analyst in Goldman’s prime brokerage group.