Ariel Investments Adds Diverse Expertise to Leadership Team

Carlos E. Calderon appointed Chief Financial Officer

Judy Smith to join Company Board of Directors

CHICAGO–(BUSINESS WIRE)–Ariel Investments, LLC (“Ariel” or “the firm”), a global value-based asset management firm, today announced the appointment of two new leaders.

Carlos E. Calderon has been appointed Chief Financial Officer, effective June 7, 2021. Calderon joins Ariel from Eaton Vance, a subsidiary of Morgan Stanley Investment Management. As Vice President and Director of Financial Planning and Analysis, he oversaw strategic planning and profitability, as well as the initiative investment committee for the multi-affiliate asset management and brokerage business. Calderon also managed mutual fund investment management reporting for both the Eaton Vance Management and Calvert Management fund boards. Prior to Eaton Vance, he held leadership roles at State Street Global Advisors and BNY Mellon supporting Global Investment Management, Global Product, Marketing and Wealth Management. He serves on the boards of various external affinity organizations, including the Junior Achievement of Northern New England Associate Board and City Year Seven Generations Board, and is a member of Association of Latino Professionals for America. Calderon earned his Bachelor of Business Administration in Corporate Finance from the Isenberg School of Management at the University of Massachusetts Amherst. Calderon will serve on the firm’s Operating Committee, and report to Co-CEO and President, Mellody Hobson.

Hobson commented: “We are delighted that Carlos is relocating to our corporate headquarters in Chicago. He will be a tremendous asset to Ariel’s operational leadership, bringing his deep expertise in financial strategies and systems.”

As the firm previously communicated on March 24, 2021, outgoing CFO Maureen Longoria will remain at Ariel until the end of Q2 2021 to ensure a seamless transition of responsibilities.

John W. Rogers, Jr., founder, Chairman, Co-CEO, and Chief Investment Officer, continued: “We would like to take another opportunity to express our deepest gratitude to Maureen for 16 years of exceptional partnership and service to the firm and our clients.”

Additionally, renowned strategic counselor Judy Smith has been appointed to Ariel’s Company Board of Directors. Smith is the founder and President of Smith & Company, an advisory firm with offices in Washington, D.C., Los Angeles, and New York. For over 25 years, she has counseled U.S. Presidents, global leaders, and Fortune 500 companies on a wide array of complex challenges and issues. A former federal prosecutor, Smith also served in the White House as Deputy Press Secretary to President George H. W. Bush. Prior to her legal career, Smith worked as a writer and public affairs specialist for several publications and private organizations headquartered in Washington, D.C. She earned her Bachelor of Science from Boston University and J.D. from American University’s Washington College of Law, where she was the first African American woman to serve as Executive Editor of the Law Review. Smith is the inspiration for the protagonist in the hit TV series, “Scandal,” for which she also served as Executive Producer. She is the author of the book, Good Self, Bad Self, published by Free Press, an imprint of Simon & Schuster, Inc.

Rogers and Hobson remarked: “Each day, Ariel benefits from the myriad of perspectives on our board. Judy will add incredibly rare and diverse experience to our team.”

Smith will join the Ariel Company Board of Directors, effective July 1, 2021. As the firm previously announced on March 24, 2021, members of the Ariel Company Board of Directors, as of Q3 2021, include: Martijn Cremers, PhD, Arne Duncan, Mellody Hobson, Valerie Jarrett, Fazal Merchant, John W. Rogers, Jr., Anthony D. Romero, Judy Smith, Heather Tookes, PhD, and Paula Wolff.

About Ariel Investments, LLC

Ariel Investments, LLC is a global value-based asset management firm founded in 1983. Ariel is headquartered in Chicago, with offices in New York City, San Francisco, and Sydney. As of March 31, 2021, Ariel’s firm-wide assets under management totaled approximately $16.2 billion. Ariel serves individual and institutional investors through five no-load mutual funds and 11 separate account strategies. For more information, please visit Ariel’s website at arielinvestments.com.

Contacts

Christina Sciarrino

Director of Communications

csciarrino@arielinvestments.com