CEO Marc Rowan to Enter Into 5-Year Employment Agreement Extension

Jim Zelter Named President of Apollo Global Management

John Zito Named Co-President of Apollo Asset Management Alongside Scott Kleinman

Apollo announced that Jim Zelter has been named President of Apollo Global Management, Inc. (AGM), the holding company for its asset management and retirement services businesses. The newly created role reflects Apollo’s continued operational expansion and its significant growth plans across both the Apollo Asset Management, Inc. (AAM) and Athene Holding Ltd. subsidiaries. As President, Zelter will work closely with AGM CEO Marc Rowan to drive Apollo’s recently announced five-year plan and lead a number of key strategic initiatives across its asset management and retirement services businesses.

In addition, John Zito has been named Co-President of AAM where he will serve alongside Scott Kleinman, Co-President of AAM. Kleinman and Zito will oversee all investing activity and day-to-day management of the asset management business. Zito will continue as Head of Credit for Apollo.

“We are rich for talent at Apollo. These senior leadership appointments reflect that and will support our ongoing evolution as a next generation financial services firm,” said CEO Marc Rowan. “Jim has been a key partner to me for nearly two decades and prior to joining the firm spent more than 20 years in financial services. John is a talented investor who has built an impressive credit organization with strong leadership; he will be a natural complement to Scott and his equities expertise.”

Rowan continued, “Two of the biggest trends we see in the next five years are the convergence of public and private markets, and the changing role of financial institutions. These promotions strengthen our position for the future as we execute on our five-year plan and capitalize on these opportunity sets.”

Jay Clayton, Chair of Apollo Global Management, said, “These appointments reflect Apollo’s commitment to strong, shareholder-aligned stewardship of the business, and our board enthusiastically supports this elevation of our next generation. We are finalizing a five-year extension of Marc’s leadership of the firm. With Marc at the helm, the senior leadership team in place, and our dozens of remarkable senior professionals across the firm, the board is confident we have the talent and alignment to deliver on our five-year plan for all our stakeholders.”

Jim Zelter said, “I joined Apollo nearly two decades ago and our evolution has been nothing short of transformational. We have crafted an ambitious, achievable strategy and purpose-built a platform that responds to the modern needs of how institutions and individuals will allocate and invest, how companies are financed, and the future of retirement and wealth generation. I am excited and energized to take on this new role and work with Marc and the management team to help Apollo achieve our full potential as innovators in both alternative asset management and retirement services.”

Jim Zelter joined Apollo in 2006 and led the build out and expansion of Apollo’s credit platform. He was named Co-President of AAM in 2018. John Zito joined Apollo in 2012 and serves as a Partner and head of Apollo’s credit business at AAM. Zito continues in these roles in addition to his new position as Co-President of AAM. Prior to Apollo, Zito was a Managing Director and Portfolio Manager at Brencourt Advisors and a Portfolio Manager at Veritas Fund Group.

Source: Apollo