Marc Rowan Knows His Business

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Marc Rowan is the CEO of Apollo Global Management and he did an interview recently where he discussed the struggles of regional banks with both the costs of funds and the regulatory costs they face in today’s highly competitive market.

Marc Rowan is the CEO of Apollo Global Management and he did an interview recently where he discussed the struggles of regional banks with both the costs of funds and the regulatory costs they face in today’s highly competitive market.

Those of us who work in the regional markets understand the critical nature of these lenders as they provide a significant portion of the funding for local development. Mr. Rowan saw a potential second decline in certain commercial real estate assets, primarily office buildings, but thought that would be localized to the major cities.

So how does that affect us here in The Midlands?

According to Southern Living Columbia was voted as one of 2024 South’s cities on the rise – it was ranked 5th out of 25. That is outstanding and I think shows the strength of a diverse economy. We not only enjoy the benefits of major educational institutions such as University of South Carolina, Columbia College, Columbia International University, Benedict, and I could go on. Fort Jackson is a major economic boost to The Midlands, and we have State Government. In recent years we have seen the expansion not only of industry, but of distribution and manufacturing such as Amazon and Nephron.

In many cases it takes regional banks to truly understand the unique nature of these borrowers, but also their history, their funding, and their leadership.

I would never be one to disagree with Marc Rowan, but I do think you have to look past national statistics and view this more locally.