Wednesday, 27 July 2016
Last updated 4 hours ago
Mar 20 2014 | 11:00am ET
Apollo Global Management’s president is stepping down after more than three years at the private-equity giant, the firm said today.
Marc Spilker will leave both the presidency and Apollo’s executive committee. He will remain a senior adviser to the firm until the end of the year.
Apollo said it does not plan to name a new president.
Spilker joined the p.e. firm from Goldman Sachs, in December 2010, in advance of Apollo’s initial public offering the following year. It is unclear why Spilker is leaving the firm, or what his plans are in 2015 and beyond.
“The firm has benefited from Marc’s deep understanding of the financial industry,” Apollo founder Leon Black said. “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.”
At Goldman, Spilker oversaw asset management, including hedge funds. In a statement, he said he looks “forward to remaining close with” Apollo.