Street Calls of the Week
Apollo Global Management, Inc. (NYSE:APO), a leading investment manager with a market capitalization of $84 billion and annual revenue exceeding $25 billion, today announced significant changes to its executive team. According to InvestingPro data, Apollo stands as a prominent player in the Financial Services industry, with its stock currently showing signs of being undervalued based on comprehensive Fair Value analysis. Louis-Jacques Tanguy, the company’s Chief Accounting Officer and Controller, has decided to step down from his position effective March 1, 2025. Tanguy’s departure coincides with his new appointment as Executive Vice President and Chief Financial Officer of Athene Holding (NYSE:ATH) Ltd.
In the interim, Martin Kelly, Apollo’s current Chief Financial Officer, will take over Tanguy’s responsibilities as the principal accounting officer. The company has initiated a search for a permanent replacement. This transition comes at a time when Apollo maintains strong financial health, with InvestingPro analysis showing liquid assets exceeding short-term obligations and a healthy current ratio of 1.51. Kelly’s extensive experience with Apollo is detailed in the company’s proxy statement filed with the SEC on April 26, 2024, which includes his background, compensation arrangements, and any related party transactions. There will be no changes to Kelly’s compensation as he assumes the additional interim role.
This executive transition has been reported in a Form 8-K filed with the Securities and Exchange Commission, detailing the company’s current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Apollo Global Management is headquartered in New York and is incorporated in the state of Delaware. The company specializes in investment advice and is listed on the New York Stock Exchange under the ticker symbol APO.
The information regarding these executive changes is based on a press release statement from Apollo Global Management. The company continues to maintain its strong presence in the investment sector while managing this transition in its leadership team. For deeper insights into Apollo’s financial health and future prospects, including 15+ additional ProTips and comprehensive valuation metrics, investors can access the full Pro Research Report available on InvestingPro.
In other recent news, Reckitt Benckiser Group Plc (LON:RKT) is progressing with the sale of its homecare brands, reportedly selecting potential buyers for its portfolio valued between £4 billion and £5 billion. Among the shortlisted bidders are Lone Star Funds, Advent, and Apollo Global Management Inc., though it remains uncertain if these firms will proceed with binding offers. Meanwhile, Apollo Global Management is also in the spotlight for its strategic acquisition of BRDG, aligning with its strategy of smaller, strategic acquisitions. Keefe, Bruyette & Woods has maintained an Outperform rating on Apollo, with a price target of $194, indicating confidence in the company’s future performance.
Additionally, Redding Ridge Asset Management, an affiliate of Apollo, is set to expand its assets under management significantly with the acquisition of Irradiant Partners. This move will boost RRAM’s AUM to approximately $38 billion, marking its position as a top-five CLO manager. In another development, Oldenburgische Landesbank AG, backed by Apollo, is planning for an IPO with a potential valuation of up to $2.1 billion. This comes two years after the bank postponed its initial public listing plans.
Finally, TD Cowen has reiterated its Buy rating on Apollo, maintaining a price target of $214, citing a strong revenue outlook for 2025. The firm’s confidence is based on Apollo’s robust pipeline in capital solutions and planned initiatives for 2026, with management forecasting significant growth in fee-related earnings.
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