Apollo Global Management has appointed Jim Zelter in the newly-created role of president, as part of the firm’s five-year business plan.
Zelter has been with Apollo since 2006 and led the build out and expansion of the company’s credit platform. He has been co-president of Apollo Asset Management since 2018.
John Zito has taken over as co-president of Apollo Asset Management, where he will serve alongside co-president Scott Kleinman. Zito will continue to act as head of credit for Apollo.
“We are rich for talent at Apollo,” said Marc Rowan, chief executive of Apollo Global Management. “These senior leadership appointments reflect that and will support our ongoing evolution as a next generation financial services firm.
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“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 organisation with strong leadership; he will be a natural complement to Scott and his equities expertise.”
Apollo has also announced that as part of its five-year plan, Rowan will remain in his role as chief executive for at least another five years.
During this time, Zelter will work closely with Rowan to drive Apollo’s business plan and lead a number of key strategic initiatives across its asset management and retirement services businesses.
“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,” said Rowan.
“These promotions strengthen our position for the future as we execute on our five-year plan and capitalise on these opportunity sets.”
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“I joined Apollo nearly two decades ago and our evolution has been nothing short of transformational,” added Zelter.
“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.”
Jay Clayton, chair of Apollo Global Management, said that the new appointments reflect Apollo’s commitment to strong, shareholder-aligned stewardship of the business.
“Our board enthusiastically supports this elevation of our next generation,” he added.
“We are finalising 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.”
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