Athene announces key leadership appointments

WEST DES MOINES, Iowa, June 16, 2025 (GLOBE NEWSWIRE) -- Athene, subsidiary of Apollo Global Management, announced today that its board of directors has appointed Grant Kvalheim as chief executive officer, effective July 1. Kvalheim, a 14-year veteran of Athene, most recently served as President, with responsibility for running the company’s U.S. operations, as well as growth initiatives. Jim Belardi, Co-founder, was named Executive Chairman and will remain Chief Investment Officer.

Athene also announced that Mike Downing and Sean Brennan will be elevated to Co-Presidents of Athene USA. Downing will continue to serve as Athene’s Chief Operating Officer while Brennan will serve as Athene’s Chief Commercial Officer. Downing and Brennan will build upon Athene’s significant growth to date and drive plans to increase financial security for individuals and serve as a solutions provider to corporations.

These appointments represent a natural evolution in Athene’s leadership and are aligned with the company’s ambitious five-year growth plan as announced at its 2024 Investor Day. To capitalize on the significant market opportunities ahead and drive growth, the company continuously works to elevate and align leaders both in senior leadership and next generation roles.

Belardi said, “There is no one better positioned than Grant to lead the company through its next phase of growth. Grant, Mike and Sean have been instrumental to Athene’s tremendous success to date, and our market leadership directly reflects their efforts to grow our business by expanding distribution, creating best-in-class product offerings and establishing us as a partner of choice. My partnership with Grant has been critical to Athene’s success and I am pleased it will continue.”  

Kvalheim said, “There is a massive opportunity ahead for Athene, driven by the growing retirement crisis in the U.S. and the need for guaranteed lifetime income. I look forward to leading Athene as our team meets this unprecedented need by expanding market share, prioritizing innovation, entering new markets and accelerating growth in the defined contribution channel. Athene is uniquely positioned to help an even greater number of people build remarkable retirements.”

Kvalheim joined Athene in 2011 and has served as President since April 2022, leading its U.S operating companies with a focus on growing organic origination. Prior to joining Athene, Kvalheim was Co-President of Barclays Capital where he grew the European investment grade credit business into a leading global credit franchise across both securitized and non-securitized credit products. Prior to joining Barclays, he held senior executive positions in the investment banks of Deutsche Bank and Merrill Lynch.

Since joining Athene in 2015, Downing has served as Executive Vice President and Chief Actuary and was elevated to Chief Operating Officer in January 2022. Before joining Athene, Downing held senior executive roles at The Allstate Corporation from 2008-2015. Previously, Downing was a Senior Partner at Aon Hewitt, leading the International Consulting practice following assignments in the UK and Switzerland.

Brennan joined Athene in 2017 and has served as an Executive Vice President since 2020, with responsibility for various retirement services and reinsurance efforts. Prior to joining Athene, he served as Global Pensions Director for Marsh & McLennan Companies, Inc., and previously spent 14 years with Mercer, most recently as Partner in its Financial Strategy group.