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New York’s Resilience

Deﬁ ning Leadership

An Interview with Anthony Scaramucci, Founder and Co-Managing Partner, SkyBridge Capital

EDITORS’ NOTE Anthony Scaramucci FIRM BRIEF SkyBridge Capital nobody knew anything about it. COVID-19 was is also the author of four books: (skybridge.com) is a global invest- killing people by the thousands, but instead The Little Book of Hedge Funds, ment fi rm with approximately $9.5 of shrinking, these brave men and women ran Goodbye Gordon Gekko, Hopping billion in assets under management toward the gunfi re in order to save lives. Many Over the Rabbit Hole and Trump: or advisement as of July 30, 2019. paid the ultimate sacrifi ce with their own lives. The Blue-Collar President. Prior The firm offers hedge fund invest- The courage shown by essential workers dur- to founding SkyBridge in 2005, ing solutions that address a wide ing the pandemic has reminded us about the Scaramucci co-founded invest- range of market participants from strength of the human spirit and American spirit. ment partnership Oscar Capital individual investors to large institu- At some point, we must fi nd an appropriate way Management, which was sold tions. SkyBridge takes a high-convic- to honor and compensate these brave souls for to Neuberger Berman in 2001. tion approach to alpha generation, their immense heroism. Earlier, he was a vice president expressed through a thematic and SkyBridge is a purpose-driven firm in Private Wealth Management Anthony Scaramucci opportunistic investment style. The with a long history of supporting its employ- at Goldman Sachs & Co. In 2016, fi rm manages multi-strategy funds of ees, clients and communities. How has Scaramucci was ranked #85 in Worth mag- hedge funds and customized separate account SkyBridge adapted its business and the way azine’s Power 100: The 100 Most Powerful portfolios, and provides hedge fund advisory ser- it works during this unprecedented time in People in Global Finance. In 2011, he received vices. SkyBridge also produces a large annual order to continue to effectively support its Ernst & Young’s “Entrepreneur Of The Year® – conference in the U.S. and Asia known as the employees, clients and communities? New York” Award in the Financial Services SkyBridge Alternatives Conference (SALT). In terms of our own business, we closed category. He is a member of the Council on Headquartered in New York, the fi rm also has our offi ce on March 9 - before the city or state Foreign Relations (CFR), a board member of a presence in Seoul, London and Palm Beach. closure orders – both to protect our team mem- The Brain Tumor Foundation and Business bers and their families, but also to send a sig- Executives for National Security (BENS), The world is fi ghting a public health crisis nal to other business leaders that we needed to and a Trustee of the United States Olympic & that is impacting all countries and their take the virus seriously. We started allowing a Paralympic Foundation. He was a member of citizens. The pandemic is being fought on very limited number of workers to return to the the New York City Financial Services Advisory the front lines by healthcare workers, fi rst offi ce after Labor Day on a completely voluntary Committee from 2007 to 2012. In November responders, those providing supplies and basis, but will not ask people to come back until 2016, he was named to President-Elect meals, transportation workers and all other the virus is basically extinguished. We’ve erred Trump’s 16-person Presidential Transition essential workers. What do you say to these toward overcommunicating with clients during Team Executive Committee. In June 2017, he true leaders and heroes that are risking the pandemic due to the anxiety that every- was named the Chief Strategy Officer of the their lives to protect others? one was experiencing not only around their EXIM Bank. He served as the White House The fi rst thing we have to say to our brave health, but also their fi nances. The worst thing Communications Director for a period in essential workers is thank you. The situation, an investor can do during periods of distress is July 2017. Scaramucci holds a BA degree especially in the early days of the pandemic, make an emotional decision, and we feel great in economics from Tufts University and a JD was fraught with risks and uncertainty. We had about how we’ve kept clients invested. From a from Harvard Law School. a deadly disease spreading like wildfi re and community standpoint, we’ve helped lead several

“The courage shown by essential workers during the pandemic has reminded us about the strength of the human spirit and American spirit. At some point, we must ﬁ nd an appropriate way to honor and compensate these brave souls for their immense heroism.”

160 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2020 LEADERS MAGAZINE, LLC VOLUME 43, NUMBER 4 “We need to dial back the rhetoric and deescalate the conﬂ ict that’s boiling to the surface in society today. Part of that is driven by the economic inequality that has developed due to factors like technological innovation and globalization, but we need energetic public/private solutions to bridge the gap.”

community events to raise funds for charities digital collaboration tools, but the work-from- You have built a career as a business addressing food insecurity related to COVID-19. home period has forced everyone to get com- leader and have also served in government. It was devastating to see food banks with miles- fortable with those technologies. While you can How concerned are you about the partisan- long lines, so we tried to do what we could to never replace the creative value and personal ship in the country today and what needs to be make sure that, at the very least, families had connection of face-to-face human interaction, done to bring the country together? food on the table. I think you’ll see a hybrid work environment What most concerns me about the environment How has SkyBridge’s team changed the moving forward. Business travel is unlikely to we’re in is the willingness to accept an erosion in our way they work in order to be effective with return to previous levels this decade, if ever. democratic principles for the sake of partisan gain. We the changes that have been necessary for We’ll encourage our team members to come are naive to think that because the United States has all businesses to make and how proud are into the offi ce when it’s safe, but also continue grown into the dominant world superpower over the you to see the resilience of your team? to stay connected with tools we’ve grown com- last 240 years that our empire is immune to failure. We I give a ton of credit to our team, espe- fortable with during the quarantine. need to dial back the rhetoric and deescalate the con- cially on the technology and operations side, for SkyBridge is headquartered in New fl ict that’s boiling to the surface in society today. Part fl ipping the switch from a completely in-person York City which has been heavily impacted of that is driven by the economic inequality that has work environment to a fully-digital scenario by the pandemic. What are the keys to New developed due to factors like technological innova- essentially overnight. As a multi-manager alter- York City’s recovery and how critical is it for tion and globalization, but we need energetic public/ native investment fi rm, there is a ton of rigorous there to be a strong public/private partner- private solutions to bridge the gap. due diligence and accounting attention to detail ship to ensure a safe and effective reopening During this diffi cult and uncertain time, that’s necessary for us to meet our fiduciary of New York City? what are you telling your people and what standard to clients. We haven’t skipped a beat New York has a unique resilience. 9/11 is would you say to young people across the coun- and I think it’s a testament to our culture. In an obvious example. COVID-19 will be the lat- try who are deeply concerned and uncertain the same way we’ve tried to overcommunicate est chapter. I almost laughed when I read some about the future? with clients, we’ve also tried to overcommuni- of the think-pieces about the death of New You have to be honest with people. Most human cate internally as well. Every team within the York City as a result of the pandemic. The city beings have a unique ability to tell when they’re being fi rm has at least a brief daily teleconference to will bounce back, but it will require the type of lied to or gaslighted. We are facing serious challenges ensure that we’re on the same page. leadership and togetherness that we saw post as a country and as a world. To overcome them, There is a great deal of discussion about 9/11. As a business owner, the well-being of we need to work harder to build consensus and businesses reopening in a “new normal.” our colleagues and clients is the top priority, safeguard our institutions. We can no longer take for What is your outlook for what this new but we do feel a desire to get people back to granted our position as the dominant economic and normal may look like and how is SkyBridge the offi ce because of the secondary benefi t it geopolitical player on the world stage. If we’re going preparing for the next stage in this crisis? has for the city. We pay for lunch every day for to maintain and grow our quality of life, we need to The quarantine has opened everyone’s our team, and nearby restaurants have missed start thinking differently about how we live and work eyes to what’s possible when you fully embrace out on that revenue. That’s just one example. I together. With that being said, the United States of the technology tools at our disposal. Especially think we need to come together to extinguish America is the greatest country in the world. If you with older workers, pre-pandemic there was the virus, and then come together with a plan were born here or immigrated here, you hit the lot- some resistance to teleconferencing or other to get back to business. tery. But we can’t take that for granted any longer.•

“Most human beings have a unique ability to tell when they’re being lied to or gaslighted. We are facing serious challenges as a country and as a world. To overcome them, we need to work harder to build consensus and safeguard our institutions.”