Wednesday, 23 July 2014
Last updated 2 hours ago
Mar 4 2014 | 11:35am ET
Apollo Global Management’s Leon Black made more in 2013 than any other private-equity manager, more than doubling his pay from 2012.
Black took home $546.3 million in compensation, dividends and investment gains last year, Apollo said yesterday. That’s 17% more than Blackstone Group’s Stephen Schwarzman, who earned $465.4 million.
Black wasn’t the only Apollo executive to rake it in last year: co-founders Joshua Harris and Marc Rowan collected $396.7 million and $365.8 million, respectively. The trio’s haul totaled nearly $1.2 billion.
Black, Harris and Rowan took advantage of rising markets to cash out of investments last year; Black said the firm was selling “everything that’s not nailed down.” And he wasn’t the only one: The nine top executives at Apollo, Blackstone, the Carlyle Group and Kohlberg Kravis Roberts split more than $2.6 billion in 2013, more than twice their total from 2012.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…