Gary W. Parr is joining alternative investment manager Apollo Global Management as a senior managing director and co-chairman of the firm's management operating committee, confirmed Charles Zehren, Apollo spokesman.
It is a new position.
Mr. Parr is retiring as vice chairman of investment bank Lazard in January to join Apollo, a Lazard client, according to a memo to employees from Ken Jacobs, Lazard's chairman and CEO. He was also an advisory director at Lazard.
“We greatly appreciate all that Gary has accomplished at Lazard since he joined us in 2003. He advised corporate leadership on some of the industry's most transformational transactions, particularly during the financial crisis,” Mr. Jacobs wrote in the memo. “Apollo is one of the leading alternative asset managers and an important client of the firm.”