Jay Clayton, the former S.E.C. chairman, will join Apollo’s board.

SourceThe New York Times
SectorEconomy
CountryMiddle east

Jay Clayton, the former S.E.C. chairman, will join Apollo’s board.The appointment of Jay Clayton is part of a series of steps that Apollo Global Management announced last month to expand its board and promote greater independence.Credit...Shannon Stapleton/ReutersBy Matthew GoldsteinFeb. 18, 2021, 10:30 a.m. ETJay Clayton, the former Securities and Exchange Commission chairman, will serve as the lead independent director of Apollo Global Management, the private equity firm said on Thursday.The move is intended to improve the Wall Street firm’s governance in the wake of the revelation that Leon Black, one of the firm’s co-founders, had paid $158 million in fees to the registered sex offender Jeffrey Epstein.The appointment of Mr.

Clayton is part of a series of steps Apollo announced last month to expand its board and promote greater independence. Mr. Clayton’s post as lead director may help alleviate concerns about Mr. Black’s decision to remain as chairman even after he steps down as chief executive by this summer.A report...read more...