Apollo Global Management has snagged former NYSE Euronext investor relations chief Gary Stein to fill the newly created position of director of investor relations.
Stein was previously head of investor relations for NYSE Euronext, the holding company created by the April 2007 merger of NYSE Group and Euronext. He has led NYSE’s investor relations since January 2006 and previously was a vice president of business development. Stein has also been as an executive director at indices provider Morgan Stanley Capital International and held positions at Morgan Stanley Venture Partners and Patricof & Co Ventures, now Apax Partners.
At Apollo, Stein will be responsible for establishing and managing relationships with current and prospective investors, research analysts and the financial community at large.
The hire will support Apollo’s efforts to enhance its visibility with the investment community, chief financial officer Kenneth Vecchione said in a statement.
This is one step, likely of many, signaling institutionalisation of internal operations preceding the firm’s $418 million (€279 million) initial public offering it has registered with the Securities and Exchange Commission.
Fellow mega-firm Kohlberg Kravis Roberts has also bulked up its staff and internal operations preceding its own initial public offering. The firm first registered for a $1.25 billion IPO in July 2007 and recently unveiled a revised plan, which includes taking over KKR Private Equity Investors and publicly listing later this year on the NYSE.
Among KKR’s staffing changes have been the appointment of London office co-founder Todd Fisher to the newly created position of chief administrative officer and the addition of capital raising, distribution and broker-dealer activity oversight to the responsibilities of financial services group head Scott Nutall. Nutall is also to hire a new head of distribution. Last fall, KKR hired a general counsel, as well as new heads of human resources and information technology.