Josh Harris, one of the founders of US financial services Apollo Global Management, has resigned from his day-to-day management of the company after joining the insurance company Athens, the company said on Thursday.
Harris is part of a triumvirate that has been in control of Apollo for 20 years, alongside Leon Black and Marc Rowan. They remain in their organization and in the executive committee after the move.
Harris “has returned to its roots as a salesman and a businessman,” Apollo said.
The move is expected to take place as early as 2022 Covenant of Athens, which turns Apollo into a $ 30bn conglomerate, wants to end.
Black agreed to step down as Apollo’s chief executive in January, a report by law firm, Dechert, found that he had paid $ 158m to his late rapist Jeffrey Epstein for the last five years in 2017.
Rowan, a third member of the three governors, was elected to instead of Black as an adult.