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(Reuters) - Apollo Global Management Inc said on Thursday it had appointed former U.S. Securities and Exchange Commission (SEC) chief Jay Clayton as its lead independent director to improve corporate governance in the wake of an inquiry into Chairman Leon Black’s ties to late financier and convicted sex offender Jeffrey Epstein.
FILE PHOTO: Jay Clayton, Chairman of the U.S. Securities and Exchange Commission, speaks at the Economic Club of New York luncheon in New York City, New York, U.S.,September 9, 2019. REUTERS/Shannon Stapleton
The review found that Black, who co-founded Apollo 31 years ago and turned it into one of the world’s largest private equity firms, had paid Epstein $158 million for advice on tax and estate planning and related services between 2012 and 2017.