Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”) today announced that Marc Spilker will be stepping down as President of Apollo and as a member of the firm’s Executive Committee.
Apollo’s Executive Committee will continue to manage the firm and will rely upon the firm’s Management Committee of senior executives from the firm’s investment and infrastructure functions to assist in implementing the firm’s growth initiatives and manage day to day operations. Members of Apollo’s Executive Committee are Leon Black, Chairman and Chief Executive Officer; Josh Harris, Senior Managing Director and Marc Rowan, Senior Managing Director. Mr. Spilker will stay on as a senior advisor to the firm for the remainder of 2014.
Mr. Black said “We are extremely grateful for Marc’s leadership. The firm has benefited from Marc’s deep understanding of the financial industry. Marc leaves a firm that has fulfilled the vision it set for itself to become a successful public company and to put in place the infrastructure and resources it requires. I’m confident that Marc will find great success in whatever he chooses to do next and we wish him all the best.”
Mr. Spilker said “It has been a privilege to work with the exceptionally talented team at Apollo, which has grown into one of the industry’s most successful alternative asset management firms. We’ve accomplished a great deal over the past few years and I believe that the firm is well positioned as a public company for continued success. I am grateful for the unwavering support I’ve received and look forward to remaining close with the firm.”About Marc Spilker Mr. Spilker, 49, joined Apollo Global Management as President in December 2010 following his retirement from Goldman Sachs in May 2010, after 20 years of distinguished service, as the co-head of the Investment Management Division (IMD). The IMD division includes Goldman Sachs Asset Management (GSAM) as well as Private Wealth Management. Mr. Spilker was also a member of Goldman Sachs' firm-wide Management Committee.