Apollo Global Management has announced significant leadership changes as part of its strategic five-year plan, which was highlighted during the 2024 Investor Day. Jim Zelter has been appointed President of Apollo Global Management, while John Zito has been named Co-President of Apollo Asset Management, joining Scott Kleinman in that role. These appointments aim to bolster Apollo's operational expansion and growth across its asset management and retirement services sectors.

CEO Marc Rowan emphasized the importance of these leadership roles in driving Apollo's strategic initiatives. He noted that Zelter's extensive experience in financial services and Zito's expertise in credit will enhance the firm's capabilities in navigating the evolving financial landscape. The leadership changes reflect Apollo's commitment to adapting to trends such as the convergence of public and private markets.

Jay Clayton, Chair of Apollo, expressed confidence in the new leadership team, highlighting their alignment with shareholder interests and the firm’s long-term vision. The board is also finalizing a five-year extension for Rowan's leadership, reinforcing stability at the top.

Zelter, who has been with Apollo since 2006, has played a crucial role in developing the firm's credit platform. He expressed enthusiasm for his new position, stating that Apollo has crafted a strategy that meets the modern needs of investors and institutions. Zito, who joined Apollo in 2012, will continue to lead the credit business while taking on his new responsibilities.

Apollo is recognized as a high-growth global alternative asset manager, with approximately $733 billion in assets under management as of September 30, 2024. The firm focuses on providing clients with excess returns across various investment strategies, including private equity and credit. Through its subsidiary Athene, Apollo offers retirement services aimed at helping clients achieve financial security.

The leadership changes and strategic focus underscore Apollo's commitment to innovation in alternative asset management and retirement solutions, positioning the firm to capitalize on emerging opportunities in the financial sector.