Tatsuo Tanaka Appointed as Japan Chair to Apollo

Rhea-AI Summary

Apollo Global Management (NYSE: APO) has appointed Tatsuo Tanaka as Japan Chair, enhancing its growth strategy in the Japanese market. Tanaka brings over 50 years of banking experience, previously serving in senior roles at major institutions like MUFG Bank and Citigroup Japan. This appointment aims to address the demand for fixed income replacement and alternative investments in Japan. Earlier, Apollo secured a $1.5 billion commitment from Sumitomo Mitsui Trust Holdings to invest in alternative assets, highlighting its focus on expanding asset management and retirement services in the region.

Positive

• Appointment of Tatsuo Tanaka as Japan Chair to bolster growth in the Japanese market.
• Tanaka's extensive experience in the banking sector, enhancing Apollo's credibility.
• Secured a $1.5 billion commitment from Sumitomo Mitsui Trust Holdings to invest in alternative assets.
• Expansion of retirement services through offshore reinsurance transactions with Japanese insurance companies.

Negative

• None.

Appointment Part of Apollo’s Continued Buildout in Japan and Long-term Commitment to Providing Fixed Income Replacement and Alternative Investment Solutions for the Japanese Market

NEW YORK, Dec. 26, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Tatsuo Tanaka has been named as Japan Chair to Apollo. Mr. Tanaka is a 50-year veteran of the banking and finance industry in Japan, having held various senior positions in leading financial institutions, including as Deputy President of MUFG Bank and Mitsubishi UFJ Financial Group, Chairman of Union Bank and, most recently, Chairman of Citigroup Japan. Mr. Tanaka’s appointment reflects Apollo’s continued growth in its asset management and retirement services businesses in Japan.  

“This new role is a reflection of the importance we place on Japan and the growth opportunities we see in the country to provide fixed income replacement and other alternatives to Japanese institutions and retail investors,” said Apollo CEO Marc Rowan. “Mr. Tanaka is a highly regarded leader and, in chairing Apollo’s Japan business, he will help drive our strategy to partner with Japanese institutions and savers to evolve their asset allocation toward alternatives.”

“I am optimistic about the growth potential of alternatives in the Japanese market and the role they can play in helping to meet long-term retirement income needs. Apollo has built an incredible franchise over 30-plus years delivering downside-protected, excess yield to investors. It is a privilege to serve as their Japan Chair as we bring Apollo’s expertise to new institutional partners and individual investors across the country,” said Mr. Tanaka.

The appointment of Mr. Tanaka is another important step in Apollo’s recent expansion in Japan. Earlier this year, Sumitomo Mitsui Trust Holdings and Sumitomo Mitsui Trust Bank (collectively, “SuMiTRUST”) committed US$1.5 billion to invest side-by-side with Apollo and Athene in a proprietary portfolio of diversified alternative assets, representing an innovative step in the broader introduction of alternatives to the Japanese market.

Apollo’s retirement services business, Athene, has completed two offshore reinsurance transactions with Japanese insurance companies, helping to deliver retirement income products.  Athene has also established a Representative Office in Japan and hired two Senior Vice Presidents there to study and pursue additional Japanese market opportunities.

“Japan is an important market for Apollo, and one where we believe our platform is well suited to provide solutions across the capital structure for our corporate clients, deliver good returns for our investors, and apply our expertise in retirement services to help individuals meet their retirement needs. This appointment reflects our long-term commitment to the Japan market, and we believe Mr. Tanaka will help accelerate our growing asset management and retirement services businesses in Japan,” said Matt Michelini, Partner and Head of Asia-Pacific for Apollo.

As Japan Chair, Mr. Tanaka will continue to support the entirety of Apollo’s asset management platform, including its equity business which is led by Tetsuji Okamoto, Partner and Head of Japan Private Equity.

About Apollo
Apollo is a global, high-growth alternative asset manager. In the asset management business, Apollo seeks to provide its 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. For more than three decades, Apollo’s investing expertise across its fully integrated platform has served the financial return needs of its clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo’s retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Apollo’s patient, creative, and knowledgeable approach to investing aligns its clients, businesses it invests in, its team members, and the communities it impacts, to expand opportunity and achieve positive outcomes. As of September 30, 2022, Apollo had approximately $523 billion of assets under management. To learn more, please visit www.apollo.com. 

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com 

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

FAQ

What is the significance of Tatsuo Tanaka's appointment at Apollo?

Tatsuo Tanaka's appointment as Japan Chair is crucial for Apollo's strategy to expand its asset management and retirement services in Japan.

How much did Sumitomo Mitsui Trust Holdings invest with Apollo?

Sumitomo Mitsui Trust Holdings committed $1.5 billion to invest alongside Apollo in alternative assets.

What industry experience does Tatsuo Tanaka have?

Tatsuo Tanaka has over 50 years of experience in the banking and finance industry, having held senior positions at major institutions.

What are Apollo's goals in the Japanese market?

Apollo aims to provide fixed income replacement and alternative investment solutions to Japanese institutions and individual investors.

How does Apollo plan to enhance its retirement services in Japan?

Apollo's retirement services business, Athene, has engaged in offshore reinsurance transactions with Japanese companies to deliver retirement income products.