Apollo jumps into Japan's insurance and wealth management sector

NEW YORK -- U.S.-based Apollo Global Management will fully launch asset management and insurance services in Japan with an eye on its huge retirement market, Nikkei has learned.

Since setting up an office in Tokyo last year, the company has brought in many senior bankers to guide its strategy in the country. It aims to double employees in Tokyo over the next year to year and a half as it launches new services to give customers an alternative to ultralow-yielding bonds and other securities.