Apollo Global Management Inc. is expanding its global wealth business, bringing in new hires at a rapid clip as it pushes to win the wallets of individuals seeking investments outside of stocks and bonds.

The alternative-asset management giant has added about 150 people since May for global wealth, including senior hires from Goldman Sachs Group Inc. and HSBC Holdings Plc, according to Stephanie Drescher, who Apollo named last year to oversee global wealth.

Meanwhile, Royal Bank of Canada is in talks with several fund providers, including Brookfield Oaktree Wealth Solutions and Blue Owl Capital Inc., to steer individual investors into private credit, people familiar with the matter told Bloomberg News.

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