Apollo World Administration has appointed Jim Zelter within the newly-created function of president, as a part of the agency’s five-year marketing strategy.
Zelter has been with Apollo since 2006 and led the construct out and growth of the corporate’s credit score platform. He has been co-president of Apollo Asset Administration since 2018.
John Zito has taken over as co-president of Apollo Asset Administration, the place he’ll serve alongside co-president Scott Kleinman. Zito will proceed to behave as head of credit score for Apollo.
“We’re wealthy for expertise at Apollo,” stated Marc Rowan, chief govt of Apollo World Administration. “These senior management appointments replicate that and can assist our ongoing evolution as a subsequent technology monetary companies agency.
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“Jim has been a key companion to me for practically twenty years and previous to becoming a member of the agency spent greater than 20 years in monetary companies.
“John is a gifted investor who has constructed a formidable credit score organisation with sturdy management; he will likely be a pure complement to Scott and his equities experience.”
Apollo has additionally introduced that as a part of its five-year plan, Rowan will stay in his function as chief govt for at the least one other 5 years.
Throughout this time, Zelter will work carefully with Rowan to drive Apollo’s marketing strategy and lead a lot of key strategic initiatives throughout its asset administration and retirement companies companies.
“Two of the largest traits we see within the subsequent 5 years are the convergence of private and non-private markets, and the altering function of economic establishments,” stated Rowan.
“These promotions strengthen our place for the longer term as we execute on our five-year plan and capitalise on these alternative units.”
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“I joined Apollo practically twenty years in the past and our evolution has been nothing in need of transformational,” added Zelter.
“We’ve crafted an bold, achievable technique and purpose-built a platform that responds to the fashionable wants of how establishments and people will allocate and make investments, how firms are financed, and the way forward for retirement and wealth technology.
“I’m excited and energized to tackle this new function and work with Marc and the administration crew to assist Apollo obtain our full potential as innovators in each different asset administration and retirement companies.”
Jay Clayton, chair of Apollo World Administration, stated that the brand new appointments replicate Apollo’s dedication to sturdy, shareholder-aligned stewardship of the enterprise.
“Our board enthusiastically helps this elevation of our subsequent technology,” he added.
“We’re finalising a five-year extension of Marc’s management of the agency. With Marc on the helm, the senior management crew in place, and our dozens of exceptional senior professionals throughout the agency, the board is assured now we have the expertise and alignment to ship on our five-year plan for all our stakeholders.”
Learn extra: Apollo: Non-public and public markets will proceed to converge