How Joan Payton Became One of America’s Richest Self-Made Women
Joan Payton made a daring decision in her 50s to quit her job at a prestigious investment firm, cash in her 401(k), and start her own money management firm with a colleague. Despite initial skepticism from friends and colleagues, Payton’s firm, Peyton and Regal, has grown to manage $62 billion in assets over the past four decades, making her one of the country’s most successful self-made women entrepreneurs. Payton, now 92 years old, still leads the firm as president, CEO, and majority owner, with an estimated net worth of $700 million. She remains focused on philanthropy and continues to support causes she is passionate about.
The Early Years of Joan Payton
- Joan Payton became the first woman partner at Scutter Stevens and Clark, a prestigious investment firm acquired by Zurich Group in 1997 for $1.7 billion.
- Despite her achievements, Payton felt the promotion to partner should have come sooner, as the company’s leadership at the time only voted on new partners once a year, a process that excluded women who didn’t participate in golf.
- In 1983, Payton decided to leave Scutter Stevens and Clark, taking a colleague with her, and together they founded Peyton and Regal.
Building Peyton and Regal from the Ground Up
- Over the past 40 years, Payton has grown Peyton and Regal into one of the largest private money managers in the country, with offices in Los Angeles, Boston, London, and Milan.
- The firm focuses on fixed income and global markets, managing the assets of high net worth individuals, pension funds, central banks, foundations, and more.
- Despite her age, Payton remains actively involved in running the firm and has no immediate plans to retire, according to her media representative Angela Daly.
Success and Recognition for Joan Payton
- Payton’s firm’s significant growth over the past decade has landed her a spot on Forbes’ list of the world’s most successful self-made women entrepreneurs, with an estimated net worth of $700 million.
- Aside from her stake in the firm, Payton also has around $100 million in other assets, including a home on the Santa Monica waterfront.
- Her philanthropic efforts extend to causes like animal sanctuaries, Catholic charities, and her alma mater, Trinity Washington University.
The Focus of Peyton and Regal
- When Peyton and her partner launched their firm in 1983, they focused on fixed income investments due to restrictions on corporate and state funds investing in stocks.
- Today, Peyton and Regal offer 45 different fixed income funds, along with three equity funds, attracting investors with their low-risk offerings.
- Their popular funds, like the Peyton Limited Maturity Fund and Peyton Emerging Markets Bond Fund, have reported solid returns, providing a complement to a diversified portfolio.
Peyton and Regal’s Unique Position in the Industry
- In an industry dominated by large firms like Fidelity and Franklin Templeton, Peyton and Regal stands out as a smaller, independently owned firm offering a more personalized approach to wealth management.
- CFO and managing partner Brian Matthews highlights the firm’s ability to provide a personal touch in an industry where giants like Fidelity and Blackstone reign with over a trillion dollars in assets under management.
Hot Take: Joan Payton’s Remarkable Journey
Joan Payton’s journey from quitting her job and starting her own money management firm to becoming one of America’s richest self-made women is a testament to her determination and entrepreneurial spirit. Despite the odds and initial doubts from peers, Payton’s firm, Peyton and Regal, has thrived, managing billions in assets and earning her a place among the world’s most successful entrepreneurs. Her commitment to philanthropy and dedication to her craft have solidified her legacy as a trailblazer in the finance industry. Payton’s story serves as a source of inspiration for anyone looking to carve their path to success.
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