By Sara Merken
Apollo Global Management (NYSE:APO) Inc said Thursday that Whitney Chatterjee, a partner at New York law firm Sullivan & Cromwell, will take over leadership of its legal team.
Chatterjee, most recently head of Sullivan & Cromwell's investment management practice, has been named general counsel, effective April 3. She will transition into the role of chief legal officer at Apollo next January, succeeding longtime legal leader John Suydam, the private equity giant said.
Suydam has served as Apollo's legal chief since joining in 2006 from law firm O'Melveny & Myers, where he was head of mergers and acquisitions. Suydam will remain an Apollo partner and become senior advisor, the firm said.
Chatterjee said in a statement she looks forward to joining Apollo "as the asset management environment continues to evolve." She will oversee the New York-headquartered firm's asset management and retirement services businesses.
Private equity firms have struggled over the past year due to high inflation, rising interest rates and geopolitical turmoil that together weighed on sentiment and crimped lucrative exits from investments.
Apollo said earlier this month that its fourth-quarter adjusted net income rose 77% owing to strong earnings from its retirement services business, even as gains were partly offset by a steep decline in its private equity portfolio.
Apollo said Wednesday that former U.S. Senator Patrick Toomey has been appointed to its board.
Sullivan & Cromwell co-chairs Robert Giuffra and Scott Miller in a statement wished Chatterjee well and said she was "instrumental" in forming and leading the firm's investment management practice.
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