Apollo Global Management's fourth-quarter profit slid 95% from a year earlier as the buyout firm reported revenue well below expectations.

Apollo, founded by prominent banker Leon Black in 1990 as a private equity focussed firm, made its debut on the New York Stock Exchange last year in a well received offering.

Apollo Global 4Q net drops 95%; revenue well short of views

Leon Black's private equity firm attributed some of the weakness to its incentives business

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

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The private-equity firm’s profit rose amid what its executives called the best environment for selling assets in years.

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