Apollo Expands Leadership Team
Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE:APO) today announced the expansion of its executive leadership team with the elevation of Scott Kleinman and James Zelter to serve as Co-Presidents.
In connection with these appointments, the current roles of Leon Black, Chairman, Chief Executive Officer and Founder, Josh Harris, Senior Managing Director and Co-Founder, and Marc Rowan, Senior Managing Director and Co-Founder, will continue with respect to Apollo’s strategic leadership and investment committee decision-making.
The appointments of Mr. Kleinman and Mr. Zelter to the newly created positions of Co-President will be effective as of January 1, 2018, and they will report to Mr. Harris.
In their new capacities, Mr. Kleinman and Mr. Zelter will have full responsibility for all of Apollo’s revenue-generating and investing businesses. Mr. Kleinman will focus on Apollo’s equity and opportunistic businesses, and Mr. Zelter will focus on Apollo’s credit and yield businesses. They both will continue to serve on the investment committees in their respective areas of focus.
“Scott and Jim are two of the most talented investors and managers in the industry, and their promotions reflect a natural progression of their distinguished careers,” said Mr. Black. “This new leadership structure affirms and strengthens the inherent power of our integrated global investment platform with $242 billion of total assets under management across Credit, Private Equity and Real Assets and a deep bench of world-class talent that we continue to develop and promote at Apollo.”
Mr. Harris said, “Scott has been with Apollo for more than two decades, and he has played a critical role in driving the growth of our private equity business while maintaining a best-in-class investment track record. Jim joined Apollo more than a decade ago, and he has done an extraordinary job overseeing the growth of our credit business into one of the world’s largest alternative credit platforms.”
Mr. Kleinman and Mr. Zelter said, “We are honored to be given the opportunity to take on this new role. We look forward to jointly leading Apollo’s revenue-generating and investing businesses, and working closely with the founders and the members of the Management Committee to continue to deliver value to investors and drive Apollo forward as one of the world’s leading alternative investment managers.”
In addition to Messrs. Harris, Kleinman, and Zelter, the other members of the Management Committee include: Gary Parr, Senior Managing Director; Joseph Azelby, Global Head of Real Assets; Lisa Bernstein, Global Head of Human Capital; Anthony Civale, Lead Partner and Chief Operating Officer - Credit; Stephanie Drescher, Global Head of Business Development and Investor Relationship Management; Martin Kelly, Chief Financial Officer; Gernot Lohr, Senior Partner; Sanjay Patel, Head of Europe; and John Suydam, Chief Legal Officer.