Apollo Global Management is increasing recruitment in the Asia-Pacific region to acquire assets from wealthy clients.

On November 4th, Jinshi Data News, Apollo Global Management is seeking to increase recruitment in the Asia-Pacific region to increase assets from wealthy clients. ‘We plan to double the number of employees in the private wealth department in the Asia-Pacific region in the next two to three years,’ said Edward Moon, head of global wealth management in the Asia-Pacific region. He added that recruitment will mainly come from Japan, South Korea, and Australia. Moon also stated in an interview that the company will continue to establish teams in Singapore and Hong Kong. As of June 30th, Apollo’s assets under management were $696 billion, and its goal is to raise at least $150 billion for its global wealth business by 2029. The company believes that individual investors have a $150 trillion market opportunity, with about 50% coming from family offices and 2% from high-net-worth individuals. According to Moon, since Apollo established private wealth in the region in 2022, the company has raised nearly $5 billion from wealthy investors in Asia.