NEW YORK--(BUSINESS WIRE)--Apollo Global Management, LLC (together with its subsidiaries, "Apollo" or the "Company") today announced the appointment of Marc Spilker as President of Apollo.
Mr. Spilker, 46, has agreed to join Apollo as President of the Company, a new position, effective December 1, 2010. Mr. Spilker will run the day to day operations of Apollo and sit on the Company's Executive Committee. In addition to Mr. Spilker, Apollo's Executive Committee includes: Leon Black, Chairman and Chief Executive Officer; Josh Harris, Senior Managing Director; Marc Rowan, Senior Managing Director; and, Henry Silverman, Vice Chairman and Chief Operating Officer.
Mr. Black said "We are excited to welcome Marc as President of Apollo and believe we will benefit from his deep experience in the financial industry. His successful career at Goldman Sachs and his extensive knowledge of the alternative asset management industry make him an ideal addition to our Executive Committee as we move forward."
Mr. Spilker said "I look forward to working with my new colleagues at Apollo toward the continued success of the firm. The environment for alternative asset managers is rich with opportunities and I am excited about the prospects for further growth."
About Marc Spilker
Mr. Spilker retired 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 and has assets under supervision of approximately one trillion dollars. Mr. Spilker was also a member of Goldman Sachs' firm-wide Management Committee.
About Apollo Global Management
Apollo is a leading global alternative asset manager with offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of over $54 billion as of June 30, 2010, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new Private Equity or Capital Markets funds, market conditions, generally, our ability to manage our rapid growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenue, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others.