Money Maze Podcast

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245

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Oct 2026

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About the show

The world of finance has a huge impact on all of us. This show aims to explore and unravel some of the mysteries surrounding the investing business, via interviews with masters of the real life money maze. Expect tips for mastering capital allocation, making better business decisions, strategies for taking your career to the next level, and revelatory profiles of leading industry figures. Whether you're a current or aspiring investment professional, a regular investor, or a student exploring career options, we hope you gain some helpful insights and enjoy the shows. Thank you for listening! Visit our website to learn more & access further content: moneymazepodcast.com

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October 15, 2026Episode 2071 hr 3 min

The Black Box Dilemma: Who Controls What AI Can Say? With CTGT’s Founder & CEO, Cyril Gorlla.

If you are a West Coast based tech start-up, profiled in the Wall Street Journal, Forbes, and Business Insider, are asked to present at JPMorgan's Investor Summit alongside Jamie Dimon, are backed by Google's AI fund, and have a mission to help organizations detect and correct biased or unreliable outputs from AI models and you are not yet 24, something’s going on! So today the Money Maze meets its youngest guest, Cyril Gorlla, founder of CTGT. Joining as a co-interviewer is J.P. Morgan Asset Management's Head of Investment Platform, Kristian West. In an extremely complex area, Cyril discusses 8 key items; What is the problem with LLMs being probabilistic rather than deterministic? Why can't an AI reliably explain why it produced a particular answer? When does an AI mistake matter and how good are the guardrails? What is the real lesson from the Hugging Face incident? As AI becomes embedded in banks, insurers, healthcare systems and governments, what should worry us? There is a growing geopolitical divide in AI development between the US and China. Weigh the implications. “Quis custodiet ipsos custodes ? Who watches the watchmen?” Is intelligence becoming a commodity? The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

September 25, 2026Episode 2061 hr 2 min

The Region that Defies Prediction. The Middle East’s Past Upheavals and the Storms Yet to Break. With Author Simon Sebag Montefiore

Today we welcome a reappearance of author Simon Sebag Montefiore. These few lines set the tone for an outstanding book and brilliant guest: “ But even in easier times, the Middle East has the ability to surprise even the most informed observers and intelligence maestros. After all, the experts failed to predict the emergence of Turkey in 1922, the crowning of Reza Shah in Persia in 1925, the creation of Israel in 1948, Gamal Abdel Nasser’s Suez gambit in 1956 and his union of Egypt and Syria in 1958, Israel’s victory in 1967, the fall of Shah Mohammad Reza Pahlavi and rise of Ruhollah Khomeini, 9/11, the Arab Spring, October 7, 2023, Midnight Hammer, and much that has followed.” The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

September 17, 2026Episode 20559 min

Fraud, Fees and Fake Degrees! Where is the Allocation to Alternatives Headed? Albourne’s CEO, John Claisse, Explains their approach, Why Due Diligence Matters, and Where the Investment Flows are Secular, Not Cyclical.

John Claisse explores the evolution of alternative investing, from private markets and hedge funds to AI, digital assets, due diligence and opportunities across Asia. Albourne has expanded from its genesis in Sussex in 1994, to one of the most recognized global investment advisors in the world of alternatives. It is unusual both as an employee-owned organisation, and because it has adhered to its original vision of advising only and never to manage capital. John Claisse frames the alternative industry today. He discusses institutional priorities, the change in allocating behaviour, the secular shift of retail flows into private assets, and what clients want across the alternative assets spectrum. He discusses private equity and private credit trends in light of the current malaise, and why he expects further growth in these asset flows in the years ahead. He weighs some of the investment dilemmas facing allocators, why Hedge Fund interest is strong, why digital assets are being increasingly scrutinised for their potential appeal, and where investment allocations might be headed. *Please note that at the 53:00 mark, Simon Sebag Monetfiore's upcoming book is mistakenly titled The Crucible. The correct title is The Cauldron: The Making of the Modern Middle East The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

September 3, 2026Episode 20450 min

Come Fly with Me! Delta Air Lines, The World’s Biggest Airline Discusses Why it’s Not the Business Warren Buffett Used to Avoid - With CEO, Ed Bastian.

“Airlines are a terrible business. They’re capital‑intensive, unionized, and heavily regulated… there’s very little moat.” So Warren Buffett once observed. But is that still true? In this episode, we examine the thesis for investability and try to understand the direction and shape of flying. Ed discusses the economics, competition, premiumisation, the case for “a moat” or structural advantage, and what customers want. He also explains why the competitive landscape has changed, why new entrants will find it much harder, the opportunity with retail-in-flight, the extraordinary partnership with American Express via Sky Miles, and the reason why future returns might well be higher than those of the past. ‍ The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

August 20, 202656 min

AI and the Investment Edge: Enhancement, Replacement, or Reinvention?

It is already changing how firms conduct research, construct portfolios, manage risk, and make investment decisions. In this special compilation episode, we bring together three perspectives from across public markets, hedge funds and private markets, to explore how AI is transforming investment management today and where it may lead tomorrow. Andrew Veglio, founder and CEO of Vantage Investment Management , examines where AI sits in the evolution of technologies and argues the end game is replacement not improvement of much of what we, as investors, do. Kristian West, Head of Investment Platform at J.P. Morgan Asset Management discusses how they are embedding AI across their global investment platform, sharpening research, investment process and execution. Then Lucia Soares, Chief Information Officer and Head of Tech Transformation, shares how Carlyle is using AI to accelerate decision-making, improve portfolio and risk management, and create value across its portfolio companies. Together, they discuss AI's impact on alpha generation, research, trading, portfolio construction, productivity, and the implications for the role of human judgement in our investing world. The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

August 6, 202645 min

A New Era: Richard Oldfield on the Future of Schroders and the Asset Management Industry

Most CEOs take years to make their mark. But after three decades dissecting and helping other people’s businesses at PwC, our guest today spent just two years inside Schroders before deciding it was time to sell the 222-year-old business. In this conversation, Richard Oldfield explains why he was convinced it was the right path to take, and why the family-controlled business and its board were persuaded. He describes the irresistible forces changing the investment business and specifically analyses the co-existence of private and public assets, the potential paths of passive and active, and if size matters more than ever. He discusses the footprint, asset mix and culture which Nuveen offers and how the combined group will manage $2.5tn, becoming one of the world’s largest active managers. He explains why public markets are essential, how AI is being implemented in their business, the important Asian opportunity, and why benchmarks can provide the wrong skew in understanding risks. The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

July 23, 2026Episode 20354 min

The Golden Age of Absolute Returns? With Davidson Kempner’s Managing Partner and CIO, Tony Yoseloff

In the world of global credit and event-driven investing, there are few firms that have been both quietly competitive, whilst simultaneously successful and long-standing. Founded over 40 years ago, Davidson Kempner may not be a household name, but they have navigated cycles by identifying the opportunities which emerge from dislocations, and complexity when the power between borrowers and lenders shifts. In this conversation, we discuss if it’s possible to assess where we are in the economic cycle. Tony then disentangles the term “private credit” and explains where he believes blockages and problems exist. He talks about the interdependence of private equity and private debt, and why he thinks the market may be underestimating the time needed to work through these issues. He explains where he sees capital is as scarce and where it has been abundant, and what that means for risk-taking. Finally, he discusses why Europe may have less growth but has many opportunities, why lending in India appeals, and most interestingly why we may be in “a golden age of absolute return.” The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

July 9, 2026Episode 20252 min

What Do You Call an Institution That Can Play Anywhere in the Capital Stack? With Sixth Street’s Co-CIO & Co-President Julian Salisbury

In a world where investment classification rules supreme, Sixth Street believes that its flexible architecture, approach, and culture make the firm different. Sixth Street, founded in 2009, manages more than $130 bn, suggesting flexible capital unlocks opportunities in a world that never stands still. Sixth Street’s Partner, Co-President & Co-CIO Julian Salisbury is a veteran of 25 years at Goldman Sachs, including former head of its asset management and merchant banking businesses. Julian discusses how Sixth Street works as One Team with a shared mission to deliver the best investment opportunities for its investors, as well as Sixth Street’s priorities when identifying and sourcing opportunities, industry preferences, timelines, and exits. He then explores the conundrum of growing assets and preserving alpha and reflects on current obstacles in the private markets. He also describes “the complexity premium,” changes in the world of direct lending, calibrating risk in an untraditional fund structure and private markets, and more. The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

June 25, 2026Episode 2011 hr 0 min

The Future of Flight? Building an Electric Aviation Business with the Man in the Pilot’s Seat - Kyle Clark, CEO & Founder, BETA Technologies

BETA Technologies is a Nasdaq-listed aircraft manufacturer breaking new ground with its advanced pursuit of building world-beating electric planes. Kyle Clark, Founder and CEO, explains the economic advantages of electric aircraft. He discusses assembly to operating systems, and then explains how oil majors are the beneficiaries of planes constantly refuelling, but those who own and make the electric airplanes & their batteries have a much greater continued advantage. He describes how the US wants to lead in electric aviation, the military demand, why regulation can help as it creates barriers to entry, why for their roll out, cargo, medical & logistics are coming before people. However, longer flights, more people, and the peace of flying electric, are all part of a fascinating new chapter in flight. The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

June 11, 202653 min

What Does It Take to Run One of the World’s Most Powerful Law Firms? With Alan Mason, Global Managing Partner, Freshfields

For the first time in our 6-year existence, the MMP wanted to dive into this somewhat opaque world, in line with our mission to de-mystify areas of business and finance vital to us all. Alan discusses the evolution of the top law firms, why US competition is ferocious, why he relocated to the US to help drive their business, and how they can advise global tech clients simultaneously. He answers the questions of “what do clients want”, “how do you stay at the top”, acquiring and retaining talent, culture, expansion, using data, reward, and the work/life balance. He also offers a series of compelling insights, laced with laughter, and with a particularly well thought out set of perspectives on how AI is, and may, re-sculpture the legal landscape. The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management *, IFM Investors , World Gold Council and LSEG . * During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.