Apollo Global Management said in a recent SEC filing that chief financial officer Kenneth Vecchione will leave the company no later than the end of March. Chief accounting officer and controller Barry Giarraputo will take over his role until a permanent successor is found.
The firm said Vecchione ceased serving as CFO on 22 January this year to pursue other interests, and has continued to support the company in transitioning his role until his final departure date. Vecchione had been a director with Apollo since 2007, and prior to that served as chief financial officer of MBNA Corporation.
Giarraputo has been with the firm since 2006. Before, he was a senior managing director for Bear Stearns.
The information about Vecchione was included in documents Apollo filed with the SEC this week for an initial public offering of up to $50 million on the New York Stock Exchange.
The filing also provided compensation information for Apollo’s executive management for 2009. Vecchione made $2.87 million, which included a $1.3 million base salary, a $1.1 million bonus and other compensation of $348,123. Leon Black, chairman and chief executive officer, was paid a base salary of $100,000 in 2009, plus $687,391 in other compensation. Apollo’s highest paid executive, capital markets managing director James Zelter, made $12 million last year.