Marc Rowan Considered for U.S. Treasury Secretary

Marc Rowan, CEO of Apollo Global Management, is emerging as a frontrunner for the position of U.S. Treasury Secretary under President-elect Donald Trump. His appointment could significantly benefit the private equity industry, potentially unlocking trillions in capital within the $24.4 trillion private markets, which have faced increasing regulatory scrutiny. Under Rowan's leadership, Apollo transformed from a distressed-debt investor to a leading lending firm, with assets growing to $733 billion and stock prices more than tripling. Trump is reportedly impressed with Rowan's wealth, estimated at $8.6 billion, and his financial contributions to Trump's previous campaign. If appointed, Rowan would be the first non-founder to lead Apollo in its 34-year history, marking a pivotal shift for the firm. His potential selection aligns with Trump's interests, particularly in maintaining strong ties with influential figures in the finance sector.