Apollo explores possibility of launching bank (Dealscape

Despite banking regulators' reluctance to allow private equity firms controlling positions in the nations' banks, buyout shops continue to seek ways into the sector. Case in point: Apollo Management LP's decision to hire investment bank Perella Weinberg to explore the possibility of starting a bank.

Sources said Apollo is working with a management team led by James Furash, former CEO of Countrywide Bank NA, the banking subsidiary of mortgage broker Countrywide Financial, who has been looking to fund a venture called Aris Development Co.

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NOT A SUBSCRIBER? Apollo explores possibility of launching bank Posted on November 9, 2009 5:30 PM Despite banking regulators' reluctance to allow private equity firms controlling positions in the nations' banks, buyout shops continue to seek ways into the sector. Case in point: Apollo Management LP's decision to hire investment bank Perella Weinberg to explore the possibility of starting a bank. Sources said Apollo is working with a management team led by James Furash, former CEO of Countrywide Bank NA, the banking subsidiary of mortgage broker Countrywide Financial, who has been looking to fund a venture called Aris Development Co. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 262 articles related to Countrywide Financial Corp. 149 in-depth reports of PE deals in the Financial Services sector 134 in-depth transaction records for Apollo Management LP 43 in-depth transaction records for Perella Weinberg 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Idearc Inc. Skadden Arps Deutsche Bank Concho Resources Windstream Corp. Cantor Fitzgerald Pinnacle Foods Lazard Diedrich Coffee MBIA Inc.		EXISTING USERS Username Password Forget your password? Missing a product?

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