Apollo ABF

Based on the most helpful WSO content, Apollo has been facing challenges with its internal culture and team dynamics. There have been reports of high turnover and dissatisfaction among employees in various teams, including associates and even principals. Specific to your question about internal team mergers, while there isn't direct mention of ABF (Asset-Backed Finance) in the context provided, Apollo's broader culture issues could be contributing factors.

For example: - Apollo has a reputation for being a "sweatshop" with brutal hours, which has led to significant turnover. Employees often feel overworked and undervalued, which might explain why some are looking to leave. - Attempts to revamp recruiting and soften the culture, such as diversity programs and improved office amenities, have been met with skepticism. These changes may not address deeper structural or operational issues. - Internal restructuring or team mergers, if not handled well, can exacerbate dissatisfaction, especially in a high-pressure environment like Apollo.

If the ABF team is experiencing similar challenges, it wouldn't be surprising to see employees seeking opportunities elsewhere.

Sources: More negative press on Apollo, Apollo is revamping recruiting and softening its culture. Here's a look., Strategy& Ex Employee - Q&A