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Apollo Global to add five new board members

Private equity firm Apollo Global Management Inc said on Friday it will add David Simon, chief executive officer of Simon Property Group Inc, to its board along with four members from Athene Holding Ltd.

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June 11 (Reuters) - Private equity firm Apollo Global Management Inc APO.N said on Friday it will add David Simon, chief executive officer of Simon Property Group Inc SPG.N, to its board along with four members from Athene Holding Ltd ATH.N.

Athene CEO Jim Belardi, along with its directors Mitra Hormozi, Marc Beilinson and Lynn Swann will join Apollo's board upon closing of the merger with Athene, which is expected around January 2022.

The new appointments come after Leon Black, who co-founded Apollo 31 years ago, left his executive positions at the company earlier this year, a surprise move that added to a series of corporate governance changes triggered by a review of his ties to late financier and convicted sex offender Jeffrey Epstein.

Last month, Apollo said co-founder Joshua Harris will step down from his day-to-day role at the firm after the $11 billion all-stock merger with annuities provider Athene closes next year.

Apollo had about $461 billion of assets under management as of March 31, 2021.

(Reporting by Sohini Podder in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta)

((sohini.podder@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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