John Zito
Co-President of AAM at APO
Executive
About John Zito
John Zito is Co-President of Apollo Asset Management (AAM) and Head of Credit, responsible for co-leading all investing activity and day-to-day management of Apollo’s asset management business; he joined Apollo in 2012 and is 44 years old . He is a CFA charterholder and graduated cum laude from Amherst College with an AB in economics . Under his leadership area, Apollo reported record 2024 performance with Fee Related Earnings of $2.1B (+17% YoY), Spread Related Earnings of $3.2B, AUM of $751B (+15%), and an 80% total shareholder return in 2024, outpacing the S&P 500 by 55% . Apollo added to the S&P 500 in December 2024 and articulated a five-year plan to double the business, with origination volume totaling $222B and capital solutions fees of $668M in 2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Brencourt Advisors | Managing Director and Portfolio Manager | Not disclosed | Built and managed credit portfolios prior to joining Apollo |
| Veritas Fund Group | Portfolio Manager | 5 years | Led credit investing, foundational experience for Apollo leadership |
External Roles
No public company board roles or external directorships disclosed for John Zito in the 2025 proxy .
Fixed Compensation
- John Zito was elevated to Co-President of AAM in January 2025; detailed base salary, target bonus, or fixed cash compensation for Zito are not disclosed in the latest proxy (Zito was not a 2024 named executive officer) .
Performance Compensation
- Apollo executed new long-term compensation arrangements in late 2023 for senior leaders including John Zito, shifting compensation mix toward greater stock-based awards (RSUs) in exchange for other forms of compensation to enhance enterprise alignment; specific grant sizes and vesting schedules for Zito are not disclosed .
- Firm-wide programs emphasize: multi-year carried interest allocations; RSUs that vest based on service and achievement of performance fee hurdles; recoupment policies; and executive stock ownership guidelines to align pay with long-term performance .
Equity Ownership & Alignment
| Category | 2024 | Notes |
|---|---|---|
| Personal investments in Apollo-managed funds and related accounts ($) | $1,151,356 | Indicates “skin in the game” amid employee access to no/low-fee co-invest programs |
| Distributions from Apollo-managed fund/account investments in 2024 ($) | $361,008 | Reflects realized profits/returns from personal investments |
| Stock ownership guidelines | Meaningful executive officer stock ownership requirements | Policy-level alignment for executives |
| Hedging/pledging policy | Hedging and short-selling prohibited; limited carve-out allows certain senior leaders to enter prepaid variable forwards and pledge shares subject to strict conditions | Policy-level guardrails; no disclosure that Zito personally pledges or hedges |
Employment Terms
- Non-compete, non-solicit, confidentiality and forfeiture provisions apply to equity awards and executive programs, reinforcing retention and alignment; RSUs may be forfeited upon competition and include delayed delivery features in certain cases (program-level) .
- No single-trigger change-in-control vesting and no excise tax gross-ups in executive programs (shareholder-friendly design) .
- Robust clawback/recoupment policies apply to equity and incentive compensation, including for financial restatements and detrimental conduct (program-level) .
- Detailed employment contract terms (severance multiples, change-of-control economics) for Zito are not disclosed in the 2025 proxy; Item 5.02 filings do not detail Zito’s severance or contract economics .
Performance & Track Record
- Apollo credit platform growth and execution: record FRE ($2.1B, +17%), SRE ($3.2B), AUM ($751B, +15%), origination volume $222B, capital solutions fees $668M in 2024; share price $165.16 at year-end with 80% TSR in 2024 .
- Zito named Co-President of AAM in January 2025 while continuing as Head of Credit; responsibilities include co-leading investing and day-to-day management across public and private credit markets .
- 2025 fund-raising momentum in hybrid credit (Accord+ II) and investor demand reinforce execution in Zito’s remit (Head of Credit quote supporting strategy) .
Board Governance and Say‑on‑Pay Context
- Compensation Committee is fully independent and advised by Semler Brossy; pay-for-performance framework uses equity, performance fee allocations, and ownership guidelines .
- Say-on-pay advisory vote received 84% approval in 2023; next vote scheduled for 2026 .
- Peer group for compensation benchmarking includes ARES, BLK, BX, BAM, CG, GS, KKR, MS, TPG, TROW .
Investment Implications
- Alignment: Zito’s compensation has shifted toward RSUs and long-term equity, consistent with Apollo’s move to stock-heavy pay for senior leaders; combined with personal fund co-invests and firmwide ownership guidelines, this supports strong alignment and retention in the Credit franchise .
- Retention and selling pressure: Program-level non-compete/forfeiture and clawbacks support retention; Apollo’s insider trading policy restricts hedging/short-selling with narrow exceptions, reducing near-term selling pressure signals; specific Form 4 trading or pledging by Zito is not disclosed in the proxy .
- Execution risk: With Zito co-leading AAM and heading Credit, performance levers include sustained origination, disciplined underwriting, and capital solutions fee generation; 2024 metrics show strong momentum, but continued results depend on market conditions and realizing performance fees over multi-year cycles .
- Catalyst monitoring: Track future proxy disclosures for individual award sizes/vesting tied to performance fee hurdles; watch 8-K/Item 5.02 for employment contract updates; monitor fund closes, origination volumes, and realized performance fees in Credit to gauge compensation outcomes and potential trading signals .