Apollo Global Increases Workforce by 9% Amidst Cultural Shift

Apollo Global Increases Workforce by 9% Amidst Cultural Shift

During Apollo Global’s recent investor call, CFO Martin Kelly revealed significant growth in the firm’s workforce, stating that they hired 350 individuals last year, marking an approximate 9% increase.

Kelly highlighted that half of the new hires were distributed across North America and Europe, with the remainder based in Mumbai. Looking ahead to 2024, Kelly emphasized Apollo’s intention to pursue targeted hiring efforts, with continued focus on Mumbai while also prioritizing origination scaling, high net worth coverage expansion, and exploration of new products and creations.

CEO Marc Rowan underscored Apollo’s remarkable expansion trajectory since 2008, expressing pride in the firm’s 14x growth rate, surpassing that of industry giants like Apple and Microsoft. Rowan’s leadership, which began in early 2021, has been pivotal in reshaping Apollo’s culture. Formerly known for its demanding and aggressive work environment, Apollo has undergone significant transformation under Rowan’s tenure. Reports suggest a shift towards a more cerebral atmosphere with reduced micromanagement and increased diversity.

The change in culture follows the departure of co-founder Josh Harris, known for his intense work ethic and demanding demeanor. Despite previous complaints about excessive work hours and intense pressure, recent assessments indicate a shift towards a more congenial workplace environment, attracting individuals described as “super-nice” with low egos.

However, conflicting accounts persist, with some associates still reporting grueling work hours and demanding schedules. Despite these challenges, Apollo was ranked fourth among the best private capital employers, albeit perceived as less supportive of employee well-being compared to competitors.