Apollo’s Atlas SP names Citi veteran as new CEO

Apollo’s Atlas SP Partners has named Citigroup veteran Carey Lathrop as its new chief executive.

Lathrop had been serving as interim chief executive since August, following the departure of his predecessor Jay Kim.

Lathrop joined Apollo in 2022 as chief operating officer of the firm’s credit business, and prior to that he spent three decades at Citigroup.

Atlas SP is the structured credit unit of Apollo Global Management. It was bought by Apollo from Credit Suisse early last year. To date, Atlas SP has delivered $60bn of originated assets, and 200-plus securitisations, Apollo confirmed.

Read more: Apollo profits hit 10-year high amid credit push

“Atlas SP has quickly become one of Apollo’s most strategic origination platforms, and we are pleased to have a leader like Carey at the helm,” said Jim Zelter, co-president of Apollo Asset Management.

“Carey is one of the industry’s most experienced credit and securitised products executives, managing a number of large global businesses at Apollo and Citi, and we are confident he is the right leader for Atlas SP in its next phase.

“Atlas SP is firing on all cylinders and well positioned for strong continued growth.”

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“I have been involved in Atlas SP since the very beginning, and I am honoured to now serve as its chief executive, working with an exceptionally talented team as we take the business to the next level,” added Lathrop.

“With the support of our partners at Apollo, we are excited to enter new growth areas and provide our clients with an expanding suite of solutions to enable their business plans and help finance the real economy.”

Atlas SP recently secured $5bn in financing from BNP Paribas to expand its private lending business.

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