Josh Harris, co-founder of Apollo World Administration Inc., will step down from day-to-day tasks on the agency early subsequent 12 months to give attention to his private investments, the agency mentioned.
Mr. Harris, who for years oversaw day-to-day operations at Apollo, was sidelined in January when the agency mentioned Chief Govt Leon Black would cede his position to co-founder Marc Rowan later within the 12 months after revelations of Mr. Black’s ties to disgraced financier Jeffrey Epstein. Individuals near the agency had anticipated Mr. Harris to succeed Mr. Black.
Mr. Black in March stepped down as chairman, citing well being points, and formally handed the CEO position to Mr. Rowan.
Apollo mentioned Mr. Harris, a multibillionaire, would stay a board member and a member of the agency’s government committee however would finish his day-to-day involvement with the funding large after the closing of its deal to amass insurance coverage affiliate Athene Holding Ltd. , anticipated within the first quarter of 2022.
The agency mentioned Mr. Harris plans to give attention to Harris Blitzer Sports activities & Leisure, which he began with Blackstone Group Inc. government David Blitzer. The group owns the Philadelphia 76ers NBA crew and the New Jersey Devils hockey crew, amongst different sports activities properties. He can even commit his consideration to his private investing enterprise and broaden his philanthropic efforts by means of his household’s basis.