(Bloomberg) — Apollo Global Management Inc. is expanding its global wealth business, attracting new hires at a rapid pace as it pushes to win the wallets of people seeking investments outside stocks and bonds.
The alternative asset management giant has added around 150 people since May to the global wealth business, including senior hires of executives from Goldman Sachs Group Inc. and HSBC Holdings Plc, according to Stephanie Drescher, whom Apollo nominated last year to oversee the business of global heritage.
“When we think about investors who are eligible for alternatives today, the landscape has changed quite dramatically,” said Drescher, director of product and customer development at Apollo, on Thursday at the Bloomberg Wealth Summit in New York. “Being able to provide institutional-quality opportunities to people through financial advisors is absolutely what we and others seek to do.”
New York-based Apollo said in October on investor day that 2022 should be his best year for fundraising, and Drescher called global wealth a “key bet” and a major contributor to new funds.
The firm has said it expects global assets to increase to 30% of the new capital raised in the coming years, up from 5% last year, and could be even more. Drescher said Thursday that Apollo is still on track to achieve those goals.
Part of the plan to expand the business will involve facilitating access to private credit, real estate and purchase funds through technology.
“It's a question of when, not whether, it can be as simple as clicking” to invest in Apollo funds, Drescher said.
Original Note:
Apollo Adds 150 in Global Wealth, Poaching From Goldman and HSBC
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
