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Update: Market Chatter: Texas Governor Says Apollo to Make Austin Its 2nd HQ

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(Updates with details from Apollo Global Management press release starting from third paragraph.)

Apollo Global Management (APO) has picked Austin to be its second headquarters, Bloomberg reported Monday, citing a statement by Texas Governor Greg Abbott.

Apollo did not immediately reply to a request for comment from.

Apollo said in a press release Monday that Austin will be the location of a new hub focusing on innovation, emerging technology and the next phase of its growth.

Apollo's New York presence will remain the firm's global headquarters.

The new hub will incubate emerging and new businesses across Apollo's asset management and retirement solutions platform, the company said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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