Apollo and Athene today announced the successful completion of their merger under Apollo Global Management Inc. As a result of the merger, the combined entity, Apollo Global Management Inc., led by CEO Marc Rowan, has two principal subsidiaries: its alternative asset management business, Apollo Asset Management, and Athene, its retirement services business. Athene will continue to be led by CEO Jim Belardi; Apollo Asset Management will continue to be led day-to-day by its co-presidents, Scott Kleinman and Jim Zelter. “Apollo and Athene are world-class franchises that have flourished as strategic partners, and we expect the full alignment achieved by our merger will accelerate our collective growth,” said Apollo CEO Marc Rowan. “I am thrilled to partner with experienced leaders and talented teams within both businesses that will drive our differentiated ‘One Apollo’ model forward. Together, we will continue to serve the investment return and retirement savings needs of all our clients.” The last trading day closing prices of Apollo and Athene common stock imply that the combined Apollo opens with a market capitalization of $43 billion. Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time; the deal makes the combined company’s stock eligible for inclusion in the S&P 500 index. West Des Moines-based Athene USA has about 1,300 local full-time employees; its insurance subsidiaries serve customers in all 50 states.