The potential appointment of Apollo Global Management CEO Marc Rowan would boost the stock and the broader alternative asset management sector, according to TD Cowen. The race for President-elect Donald Trump's Treasury Secretary pick appears to be between Rowan, former Federal Reserve Governor Kevin Warsh, Key Square Group founder and CEO Scott Bessent and Sen. Bill Hagerty, R-Tenn. Rowan and Warsh were expected to meet with Trump for talks at Mar-a-Lago as part of the selection process.
President-elect Donald Trump's reelection platform included efforts to deregulate industries, which would facilitate large transactions such as the ones seen in the private equity sector. Since the election, the stock has jumped 10% — outperforming the S & P 500's 2.6% gain in that time. On Thursday, shares were up more than 1%.
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