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...“[In] financial services, the record is particularly poor, as scaling typically requires hiring a lot of people, which erodes culture and can lead to excess risk taking,” he told analysts....
...Competitors such as Blackstone, KKR and Apollo Global, which listed their shares around the 2008 financial crisis, used their public stock to help finance acquisitions to expand into managing credit and insurance...
...The list of borrowers shifting from private to public debt markets includes Veritas-backed energy consultancy Wood Mackenzie and UK insurance broker Ardonagh, according to people briefed on the matter....
...and David Sambur, two senior partners who lead Apollo’s private equity business, as well as John Zito, deputy chief investment officer of credit, and Grant Kvalheim, president of Athene, Apollo’s life insurance...
...It was the tenth anniversary of its spinout from French insurance company Axa, a deal dubbed “the robbery of the century” by a rival, and likely the best deal of Senequier’s investment career....
...and David Sambur — two senior partners who lead Apollo’s private equity business — as well as deputy chief investment officer of credit John Zito and Grant Kvalheim, president of Athene, Apollo’s life insurance...
...Arm’s $5bn initial public offering this week was the most expensive in fees for five years, earning a $84mn windfall for the professional services firms that advised it, including Deloitte....
...Last month, Warburg seeded a new insurance group called Prismic that will use it to manage a portfolio of private equity investments. Warburg is also undergoing succession planning....
...But it described the accident as “an exceedingly rare event” that had not been included in any of the scenarios outlined by regulators or insurance industry bodies, nor come up in its “millions of miles...
...Deloitte is set to cut hundreds of jobs in the UK as clients cut spending on advisory services in a tougher economic environment....
...Most of what happens for us in ABF is investment grade, and it is a key driver of our insurance business for Athene and for our third-party insurance clients, and increasingly, for fixed income replacement...
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