Apollo recruits Barclays finance chief

APOLLO:Apollo recruits Barclays finance chief

Apollo Global Management LLC said on Monday it appointed Martin Kelly, a top financial controller at Barclays Plc , the British bank tainted with an interest rate rigging scandal, as its next chief financial officer.

Kelly, 44, will succeed 54-year-old Gene Donnelly, who has resigned to pursue other interests, as Apollo CFO no later than October 1, the private equity firm said in a statement. Donnelly will serve as CFO until mid-August and as senior advisor to Apollo until the end of the year, the firm added.

"We are confident that (Kelly's) leadership, finance and accounting experience will benefit Apollo and its employees and investors as we continue to diversify and grow our business on a global scale," Apollo's CEO Leon Black said in a statement.

 

Kelly worked at Lehman Brothers and Barclays between 2000 and 2012 in several roles, overseeing finance and controls of the equities, investment banking and fixed income businesses. Most recently, he was CFO of the Americas and global head of financial control for Barclays' corporate and investment bank.

Barclays has been fined more that $450 million for its part in manipulating Libor, the interest rate that is the global benchmark for transactions worth billions of dollars.