Marc Spilker, the president of Apollo Global Management, plans to leave the giant private equity firm, according to an announcement on Thursday.
Mr. Spilker, 49, joined Apollo as president in December 2010, as the firm was preparing to go public. He was formerly an executive at Goldman Sachs, serving as co-leader of a division that includes Goldman’s asset management and private wealth management businesses.
No explanation was given for his departure, and Mr. Spilker is also leaving his position on Apollo’s executive committee. Apollo says it does not plan to seek a successor.
Mr. Spilker will remain a senior adviser to Apollo for the rest of this year. Apollo said its executive committee would continue to manage the firm.
When he joined Apollo, Mr. Spilker helped the company set up the systems it would need as a publicly traded entity. Apollo went public in 2011.
“The firm has benefited from Marc’s deep understanding of the financial industry,†Leon D. Black, Apollo’s chairman and chief executive, said in a statement. “Marc leaves a firm that has fulfilled the vision it set for itself to become a successful public company and to put in place the infrastructure and resources it requires. I’m confident that Marc will find great success in whatever he chooses to do next and we wish him all the best.â€
In addition to Mr. Black, Apollo’s executive committee includes Joshua Harris and Marc Rowan, who are senior managing directors.
“We’ve accomplished a great deal over the past few years and I believe that the firm is well positioned as a public company for continued success,†Mr. Spilker said in a statement. “I am grateful for the unwavering support I’ve received and look forward to remaining close with the firm.â€
