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Apollo co-founder Josh Harris to step down

Credit: REUTERS/LUCY NICHOLSON

Apollo Global Management Inc said on Thursday co-founder Josh Harris has decided to step down from his day-to-day role on completion of the private-equity giant's deal with Athene Holding Ltd.

Adds background, details from statement

May 20 (Reuters) - Apollo Global Management Inc APO.N said on Thursday co-founder Josh Harris has decided to step down from his day-to-day role on completion of the private-equity giant's deal with Athene Holding Ltd ATH.N.

This comes months after Leon Black, co-founder and former chief executive officer, left his executive roles, following an independent review of his ties to the late convicted sex offender Jeffrey Epstein.

Harris, who will continue to be on the board, said in a statement he will focus on platforms outside of the firm after his "transition".

The deal with the insurance affiliate Athene, valued at $11 billion, is expected to close in the first quarter of 2022.

(Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi)

((Niket.Nishant@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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