Paul G. Joubert
Ares ManagementAbout Paul G. Joubert
Paul G. Joubert is an independent director of Ares Management Corporation and an audit committee financial expert. He has deep assurance and accounting leadership experience from PricewaterhouseCoopers (PwC), is Founding Partner of EdgeAdvisors (since 2008), and Venture Partner at Converge Venture Partners (since 2014). Age 77; Director since May 2014; B.A. from Northeastern University.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| PricewaterhouseCoopers LLP (PwC) | Partner, Assurance; led Technology, InfoCom & Entertainment (Northeast); Partner-in-Charge, Northeast Middle Market; Chief of Staff to PwC U.S. Vice-Chairman | 1971–Jul 2008 | Led regional practice; senior operating leadership; finance/accounting depth |
| Stream Global Services Inc. | Director; Audit Committee Chair | Jul 2008–Mar 2014 | Chaired audit; oversight of financial reporting |
| Phaseforward | Director | May 2009–Sep 2010 | Board service through acquisition by Oracle |
| Ares Commercial Real Estate Corporation (ACRE) | Director; Audit Committee Chair | Apr 2012–Jun 2014 | Chaired audit; governance alignment with Ares affiliate |
| EdgeAdvisors | Founding Partner | Jul 2008–Present | Management consulting leadership |
| Converge Venture Partners | Venture Partner | Mar 2014–Present | Early-stage investing advisory |
External Roles
- Professional and civic involvement: Boston Museum of Science; National Association of Corporate Directors; Massachusetts Innovation and Technology Exchange (director); Northeastern University Entrepreneurship Program.
Board Governance
| Attribute | Details |
|---|---|
| Director Class/Independence | Class II; Board determined independent (NYSE) in Apr 2024 and Apr 2025 |
| Committees | Audit (Chair); Compensation (member); Conflicts (member) |
| Financial Expert | Board determined Joubert qualifies as “audit committee financial expert” |
| Meeting Activity | Board held 8 formal meetings in FY2024; each director attended ≥75%; all directors attended the 2024 Annual Meeting |
| Controlled Company | Ares is a NYSE “controlled company” and avails certain governance exemptions; independent audit & conflicts committees |
Fixed Compensation
| Component | 2023 | 2024 | Notes |
|---|---|---|---|
| Annual director retainer (policy) | $300,000 | $300,000 | Payable in cash and equity; policy figure |
| Cash fees earned | $130,000 | $170,000 | Actual cash received |
| Audit Committee Chair cash retainer (policy) | $40,000 | $40,000 | Chair premium |
| Audit Committee member cash retainer (policy) | $25,000 | $25,000 | For other members; Joubert is Chair |
| Nominating & Governance member cash retainer (policy) | $15,000 | $15,000 | Joubert not listed as member in 2025 |
Performance Compensation
| Equity Award | Grant Date | Units | Grant Date Fair Value | Vesting |
|---|---|---|---|---|
| Independent director annual equity grant | Jul 27, 2023 | 1,732 | $174,222 | 100% on first anniversary |
| Independent director annual equity grant | Aug 1, 2024 | 1,173 | $179,704 | 100% on first anniversary |
- No options or PSUs for directors; equity grants are time-based restricted units with one-year vesting; no performance metrics are tied to director equity.
Other Directorships & Interlocks
| Company | Role | Status |
|---|---|---|
| Phaseforward | Director | Historical (acquired by Oracle 2010) |
| Stream Global Services Inc. | Director; Audit Chair | Historical (to 2014) |
| Ares Commercial Real Estate Corporation (ACRE) | Director; Audit Chair | Historical (to 2014) |
- No current public company directorships disclosed beyond Ares. No related-party transactions disclosed for Joubert; Board independence review flagged Mr. Lynton’s advisory fees, not Joubert.
Expertise & Qualifications
- Assurance and audit leadership (PwC); governance and financial reporting oversight (multiple audit chair roles); venture advisory; recognized audit committee financial expert. Education: B.A., Northeastern University.
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | Unvested Director Units Outstanding (12/31/2024) | Ownership Guidelines | Compliance |
|---|---|---|---|---|---|
| Paul G. Joubert | 40,129 | <1% | 1,173 | 3x cash component of annual retainer required | All directors met or on track |
- Hedging/pledging/margin restrictions apply to directors under insider trading policy; prohibited without prior approval.
Compensation Structure Analysis
| Metric | 2023 | 2024 | Commentary |
|---|---|---|---|
| Total director compensation (cash + equity) | $344,222 | $349,704 | Mix skewed to equity retainer; modest YoY increase in equity fair value |
| Cash vs Equity mix | $130,000 vs $174,222 | $170,000 vs $179,704 | Cash increased; equity broadly stable; no options or performance equity |
- No tax gross-ups, options repricing, or discretionary director bonuses disclosed; equity grants remain time-based.
Governance Assessment
- Strengths:
- Independent director with audit committee financial expert designation; chairs audit committee; broad accounting leadership background.
- High engagement: serves on three key committees (Audit chair; Compensation; Conflicts); Board/committee meeting cadence robust; general director attendance ≥75% and full annual meeting participation.
- Ownership alignment: equity retainer with one-year vest; director stock ownership guidelines (3x cash retainer) met/on track; firm prohibits hedging/pledging without approval.
- Considerations:
- Controlled-company structure centralizes voting power with Holdco members; while audit and conflicts committees are fully independent, overall nomination/governance committee includes non-independent directors, which can limit independent influence on board composition.
- RED FLAGS:
- None disclosed specific to Joubert (no related-party transactions, pledging, or Section 16 issues cited). Note: Board’s independence review specifically identified an advisory fee for another director, not Joubert.
Implication: Joubert’s audit chairmanship and financial expertise bolster Ares’ financial reporting oversight—an important confidence signal for investors—though the controlled-company status should be weighed when assessing overall board independence and shareholder influence.