U.S. investor Ares taps ex-SMBC executive to lead Japan expansion

NEW YORK -- Ares Management has appointed a former executive of Sumitomo Mitsui Banking Corp. to lead its Japan operations as it prepares to open an office in Tokyo this year, tapping into a growing appetite for private assets.

The U.S. firm said Monday that it had named Masahiko Oshima, a former SMBC deputy chairman, as partner and Japan chairman of its Asian arm. Oshima has also served as head of SMBC's global corporate banking unit and CEO of its European arm, giving him a deep background in international finance. He stepped down from his advisory position at SMBC as of Sunday.