Asset management giant Apollo Global Management is focusing on expanding its hiring in the Asia-Pacific region to enhance assets from affluent clients. Edward Moon, Apollo's head of Global Wealth Management for Asia-Pacific, announced that the company aims to double its private wealth team in the region over the next two to three years. Recruitment efforts will primarily target Japan, South Korea, and Australia, while the firm will continue to build teams in Singapore and Hong Kong.
As of June 30, Apollo managed $696 billion in assets and aims to raise at least $150 billion for its global wealth business by 2029. The company believes that the personal financial sector presents a $150 trillion market opportunity, with around 50% coming from family offices and 2% from high-net-worth individuals.
Since establishing its private wealth division in the region in 2022, Apollo has raised nearly $5 billion from wealthy investors in Asia. Although the company did not disclose the current number of employees within its Asia wealth team, it stated that a global support model of 140 staff members provides client services in major markets like Hong Kong and Singapore.
