Ariel Investments has added Heather Tookes, a finance professor at Yale School of Management, to its board of directors. Tookes has been on the faculty of Yale School of Management since 2004, and much of her research focuses on understanding the ways in which credit market frictions can impact firms’ financing decisions. “We have great admiration for her work and believe she will bring a valuable perspective to our board and investment effort,” said John Rogers, Ariel's founder, chairman and CIO.