Apollo Names Roger W. Ferguson, Jr. Vice Chairman

Rhea-AI Summary

Apollo Global Management has appointed Roger W. Ferguson, Jr. as Vice Chairman, where he will advise on strategic asset management and retirement services. CEO Marc Rowan emphasized Ferguson’s leadership experience in the financial services sector, which includes managing TIAA through significant economic challenges and expanding its client base significantly. Ferguson aims to enhance deal origination and investor relations while supporting Apollo's growth strategy in the evolving financial sector. Apollo currently manages approximately $472 billion in assets.

Positive

• Appointment of Roger W. Ferguson, Jr. as Vice Chairman brings significant leadership experience.
• Ferguson’s prior success at TIAA, including asset management expansion to over $1 trillion.
• Strategic focus on enhancing retirement services aligns with market demand.

Negative

• None.

NEW YORK, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that Roger W. Ferguson, Jr. has been named Vice Chairman of Apollo. Mr. Ferguson will serve as a key advisor to the Firm and its senior leaders on strategic asset management and retirement services initiatives, while enhancing new deal origination and deepening relationships with investors, regulators, industry leaders and the broader financial services community.

Apollo Chief Executive Officer Marc Rowan said, “Roger is a proven leader in the retirement and financial services space, and we are excited to welcome him to the team and benefit from his vast experience. As we continue to execute on our strategic priorities and position Apollo at the forefront of tomorrow’s financial services ecosystem, retirement services and constant innovation underpin our long-term objectives. Roger brings unmatched expertise in both arenas and more, and we look forward to working closely with him to build on our strengths and capitalize on new opportunities to provide better access to high quality products that deliver attractive risk-adjusted returns.”

Mr. Ferguson said, “Apollo is a differentiated leader across the investment landscape, and I am thrilled to partner with Marc and the rest of the talented team at this time. The firm is executing on a visionary growth strategy during an incredibly dynamic period in the retirement and financial services space. I look forward to leveraging my own experience and insight to assist in generating excess returns for clients and carrying out the Firm’s strategic initiatives.”

Mr. Ferguson most recently served as the President and CEO of TIAA, a leading provider of retirement services in the academic, research, medical and cultural fields. He was responsible for guiding the company through both the 2008 financial crisis and the COVID-19 pandemic, expanding the customer base by nearly one million new clients and ensuring the company maintained strong financial health while meeting its financial commitments to millions of retirees. He also oversaw the doubling of the company’s assets under management to over $1 trillion, cementing the company’s position as one of the world’s premier asset managers. Previously, Mr. Ferguson served as Head of Financial Services for reinsurance company Swiss Re, where he oversaw the company’s asset management arm with $170 billion AUM, as well as its capital markets and credit platforms.

From 1999 to 2006, Mr. Ferguson was Vice Chairman of the Board of Governors of the United States Federal Reserve System. Prior to joining the Federal Reserve System, he was a partner at McKinsey & Company, where he worked from 1984 to 1997. He began his career as an attorney at Davis Polk & Wardell.

Mr. Ferguson currently serves on the boards of Alphabet Inc., Blend Labs, Corning and International Flavors and Fragrances as well as several private fintech companies and a number of non-profits including Memorial Sloan-Kettering Cancer Center and the Smithsonian Institution.

About Apollo

Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and equity. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2021, Apollo had approximately $472 billion of assets under management. To learn more, please visit www.apollo.com.

Contact Information

For Investors:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0528
IR@apollo.com

For Media:
Joanna Rose, Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

FAQ

What is the significance of Roger W. Ferguson, Jr.'s appointment at Apollo (APO)?

Roger W. Ferguson, Jr. was appointed Vice Chairman of Apollo to leverage his extensive experience in financial services and retirement solutions.

How much assets does Apollo (APO) manage after the new appointment?

Apollo currently manages approximately $472 billion in assets as of June 30, 2021.

What are Apollo's strategic priorities following Ferguson's appointment?

Apollo aims to enhance strategic asset management and retirement services, focusing on innovative capital solutions.

What past experiences does Roger W. Ferguson, Jr. bring to Apollo (APO)?

Ferguson previously served as President and CEO of TIAA, managing significant growth and navigating economic crises.