Marc Rowan: From Problem Child to Architect of a New Financial Era

Marc Rowan, co-founder of Apollo Global, looked to his future in the financial world with concern in the 1980s. As a young graduate of the Wharton School of Business, he felt that his career at the investment bank Drexel Burnham Lambert had called him too late for the really big money. However, fate would offer him a second chance in due course. Two decades ago, in the shadow of the Lehman collapse, Rowan declared resolutely that periods of upheaval provide the greatest opportunities for financial redesign. Today, as the leading head of Apollo Global, the 62-year-old Rowan aims to establish the company as a central player in the global financial markets. According to Rowan's conviction, the influence of traditional banks is declining, while asset managers increasingly form the backbone of credit markets. Apollo, once a niche player in the leveraged buyout scene, now aims to offer a complete financing spectrum for companies of any credit quality. The acquisition of the insurance company Athene in 2022 underpins these ambitions. Rowan's career has always been marked by ambitious projects. His masterpieces include the establishment of Athene and the development of groundbreaking collaborations, including with Citigroup and BNP Paribas, to catapult Apollo to new heights. Despite his preference for the background, he has successfully transformed Apollo's business, living up to his reputation as a tactically and intellectually skilled visionary. At the same time, there are voices expressing skepticism about the supposedly "more humane" Apollo. Nevertheless, Rowan remains steadfast in his conviction that the financial landscape is changing—a transformation in which Apollo is to play a leading role.