By Sara Merken
Apollo World Administration (NYSE:) Inc stated Thursday that Whitney Chatterjee, a associate at New York legislation agency Sullivan & Cromwell, will take over management of its authorized workforce.
Chatterjee, most just lately head of Sullivan & Cromwell’s funding administration apply, has been named basic counsel, efficient April 3. She’s going to transition into the function of chief authorized officer at Apollo subsequent January, succeeding longtime authorized chief John Suydam, the non-public fairness big stated.
Suydam has served as Apollo’s authorized chief since becoming a member of in 2006 from legislation agency O’Melveny & Myers, the place he was head of mergers and acquisitions. Suydam will stay an Apollo associate and turn into senior advisor, the agency stated.
Chatterjee stated in an announcement she seems ahead to becoming a member of Apollo “because the asset administration atmosphere continues to evolve.” She’s going to oversee the New York-headquartered agency’s asset administration and retirement companies companies.
Non-public fairness companies have struggled over the previous 12 months as a consequence of excessive inflation, rising rates of interest and geopolitical turmoil that collectively weighed on sentiment and crimped profitable exits from investments.
Apollo stated earlier this month that its fourth-quarter adjusted internet revenue rose 77% owing to robust earnings from its retirement companies enterprise, whilst good points have been partly offset by a steep decline in its non-public fairness portfolio.
Apollo stated Wednesday that former U.S. Senator Patrick Toomey has been appointed to its board.
Sullivan & Cromwell co-chairs Robert Giuffra and Scott Miller in an announcement wished Chatterjee nicely and stated she was “instrumental” in forming and main the agency’s funding administration apply.
Apollo World appoints former U.S. Senator Patrick Toomey to board