Paul Zummo
The Guardian
What holds, and what fails, under pressure, standards and accountability.
Paul Zummo reads as The Guardian because his first instinct is to protect capital integrity before pursuing return. He interrogates what can go wrong before assessing upside, a custodial rather than opportunistic orientation. At JPMorgan Alternative Asset Management, the CIO and co-founder treats culture as institutional infrastructure and due diligence as a long-term obligation, positioning himself not as an allocator chasing opportunity but as a steward of trust.
“Culture is definitely at the heart of many of it. The culture that we've built as an organization has been spectacular and clearly a differentiator.”
“The thesis is: are there one hundred or two hundred managers out there that are adding enormous value? Yes, and through great due diligence, I can find them if they spend the time and do a great job.”
“Approach due diligence from the liability side — what can go wrong with this manager, what can go wrong with the strategy, where does it break — and then turn to the asset side and say, am I getting compensated for that.”
Masters in Business: “How to Think About Alternatives with JPMorgan's Alternative Asset Management CIO Paul Zummo”
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