Paul Zummo, Chief Investment Officer of J.P. Morgan Alternative Asset Management, joins Kumar Panja, EMEA head of the Capital Advisory Group at J.P. Morgan, as they celebrate 30 years of investing in hedge funds and other alternative asset classes. Zummo contrasts the early days, characterized by limited data and conventional strategies, with today’s landscape, which features emerging managers along with quantitative and multi-strategy funds. With $33 billion in assets under management following the merger with the Private Bank, Zummo emphasizes the importance of robust risk management, disciplined due diligence, thorough referencing and careful cultural assessments in selecting hedge fund managers. This episode was recorded on May 22, 2025. The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan. To find out more about our services, please contact [email protected]. © 2025 JPMorgan Chase & Company. All rights reserved.

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