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Black will not retain chair position, as earlier announced

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Fund manager Apollo Global Management has announced that co-founder Marc Rowan will become the fund’s next chief executive, replacing founder Leon Black.

It comes after Apollo found itself at the centre of a scandal surrounding Black’s ties to disgraced financier Jeffrey Epstein, prompting Black’s resignation in January.

Apollo appoints Marc Rowan as chief after Leon Black exit

Emily Nicolle

Microsoft

If Nikhil Rathi wants to stay CEO, he needs to sort out the FCA’s ballooning headcount

Accounting firm spurns private equity as rare IPO tests UK market appetite

BlackRock’s Panama ports deal shows Trump is the real king of M&A  

Pimco Emea boss Craig Dawson returns to California for new role

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Christian Stracke, global head of credit research, will run Emea from bond giant’s London office

BNP Paribas flies in Lynagh from New York to head UK global banking

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Mark Lynagh is succeeding Matthew Ponsonby who has resigned from the bank

PwC hires Jefferies managing director in deals push

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Big Four firm boosts insurance M&A team with hire from US bank

Shares in European banks sank further on Friday, adding to losses triggered by Wednesday’s announcement of U.S. tariffs and their effects on global trade and economic activity, after China slapped retaliatory tariffs on U.S. goods.

European Bank Stocks Extend Losses From Tariff Fallout

Global government bonds extend their rally in the aftermath of Trump’s tariffs, despite key payrolls data coming in stronger than expected.

Bonds Rally as Investors Seek Safety From Tariff Turmoil

Yoon Suk Yeol’s ouster over his martial-law decree triggers a snap vote to elect a leader who will face challenges on trade, U.S. relations and North Korea.

By Timothy W. Martin, Soobin Kim and Dasl Yoon | Photographs by Tim Franco for WSJ 

Race for South Korea’s Next Leader Starts With Dismissal of President

His announcement stunned markets. It could also push countries—including the U.S.—to the brink of recession.

Trump’s Tariffs Aim to Create a New World Economic Order

More than $6 billion from heists highlights the sophistication of cyber operations funneling cash to Kim Jong Un’s nuclear program.

By Patricia Kowsmann in Singapore and Timothy W. Martin in Seoul 

How North Korea Cheated Its Way to Crypto Billions

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