Former U.S. Senator Joe Manchin joins Apollo as an adviser and joins Athene's Board, focusing on energy markets and retirement services.
Quiver AI Summary
Apollo and Athene have announced the appointment of former U.S. Senator Joseph Manchin III as an adviser to Apollo and a member of the Athene Board of Directors, effective February 3, 2025. Manchin, who served as a senator from West Virginia and held various leadership roles in the Senate, will provide valuable insights on energy markets and contribute to capital strategies that support the global industrial renaissance. Apollo CEO Marc Rowan and Athene CEO Jim Belardi expressed their confidence in Manchin's experience and independent thinking as assets to the company’s efforts in retirement services and capital investment. Manchin noted his enthusiasm for supporting Apollo’s mission and addressing modern retirement challenges through Athene’s innovative solutions.
Potential Positives
- Appointment of former U.S. Senator Joseph Manchin III as an adviser to Apollo and a member of the Athene Board enhances the leadership team's expertise, particularly in energy markets.
- Senator Manchin's extensive background in public service, including his role as Chair of the Senate Energy and Natural Resources Committee, may provide strategic insights and enhance Apollo's influence in capital markets related to energy.
- The hiring of Senator Manchin signals Apollo's commitment to addressing the evolving needs of retirement products, aligning with the growing demand for financial security solutions for Americans.
- This partnership may improve Apollo's market positioning and reputation as a forward-thinking leader in financial services, especially in supporting the global industrial renaissance and energy transition initiatives.
Potential Negatives
- Appointment of a former politician may raise concerns about potential conflicts of interest or perceptions of lobbying, which could affect the company's reputation.
- Senator Manchin's role in advisory capacity could lead to scrutiny of Apollo's involvement in politically sensitive industries, particularly energy.
FAQ
Who has been appointed to the Athene Board of Directors?
Former U.S. Senator Joseph Manchin III has been appointed to the Athene Board of Directors.
What role will Senator Manchin serve at Apollo?
Senator Manchin will provide advisory services to Apollo on various matters, particularly related to energy markets.
What is Athene known for?
Athene is known for being a leading retirement services company focused on financial security and innovative retirement products.
What is Apollo's primary business focus?
Apollo is a global alternative asset manager focused on providing excess returns and innovative capital solutions for clients.
When did Senator Manchin's appointment take effect?
Senator Manchin's appointment as an adviser and board member took effect on February 3, 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
WEST DES MOINES, Iowa, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Athene Holding Ltd. (“Athene”), today announced that former U.S. Senator Joseph Manchin III has been named an adviser to Apollo and appointed to the Athene Board of Directors, effective February 3, 2025. Senator Manchin will provide advisory services to Apollo on various matters including energy markets, given the firm’s leading role in providing capital to enable the global industrial renaissance.
Senator Manchin served as a United States Senator for West Virginia from 2010 to 2025. He was Chair of the Senate Energy and Natural Resources Committee, as well as a member of the Appropriations, Armed Services, and Veterans’ Affairs Committees. Prior to his tenure in the Senate, he served as the 34th Governor of West Virginia from 2005 to 2010 and as West Virginia Secretary of State from 2001 to 2005. He graduated from West Virginia University with a degree in business administration.
Marc Rowan, CEO of Apollo, said, “Senator Manchin’s distinguished career experience and expertise will be incredibly valuable to Apollo and our clients and partners. We look forward to his contributions to help meet the unprecedented capital need required to drive the global industrial renaissance and support the significant retirement needs of Americans and families around the globe.”
Jim Belardi, CEO of Athene, said, “Senator Manchin is a great addition to Athene’s Board as we address the significant need for next generation retirement products. His public sector experience, expertise on a broad range of issues, and track record of independent thinking make him a valuable member of our Board.”
Senator Manchin said, “Apollo is a forward-thinking financial services firm that has been able to offer capital at scale to drive the American economy forward. Athene provides critical retirement services to millions of Americans and is the leading innovator in tackling modern retirement challenges. I look forward to bringing a unique perspective to both the team at Apollo and the Athene Board, contributing to the firm’s continued success in retirement services and providing capital to enable energy accretion and transition.”
About Athene
Athene is a leading retirement services company with over $350 billion of total assets as of September 30, 2024, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit
www.athene.com
.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.
Contacts:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
communications@apollo.com
Jeanne Hess
Vice President, External Relations
Athene
646-768-7319
jeanne.hess@athene.com
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