Matthew Scanlan is an investment executive with 40+ years of CEO-level experience across indexing, quantitative, active, and private equity strategies. He currently serves as Strategic Operating Partner at Valeas Capital Partners and as a board director of Adams Street Partners and Exos Financial Group. He previously held CEO positions at RS Investments, Renaissance Institutional Management, and Barclays Global Investors' Americas institutional business.
Foreign Diversification Questioned: Data Show Benefits Make It Worthwhile
Chapter 3 The Ever-Evolving Uses of Indexing: Why the Active versus Index Debate Is Over
This chapter covers the growth of indexing from its humble beginnings, which were described in Chapter 2. We highlight the debate over indexing’s appropriateness for different market environments and various asset classes, discuss the advantages of index products, and describe the factors that have contributed to their meteoric growth. We examine indexing’s performance in both rising and falling markets and explore the claims that while indexing may be appropriate for U.S. large-cap equity investing, it somehow isn’t appropriate for U.S. small-cap or international equities. The myths and conventional wisdom about the latter are discussed in detail. While there is a brief discussion of index derivatives and ETFs, these subjects receive more thorough analysis in Parts Three, Four, and Five. The focus in this chapter is on how investors use indexing in increasingly sophisticated and creative ways, and how indexing should be a key part of an overall investment strategy. We stress that the active versus index debate is (or certainly should be) over. Instead, indexing needs to be part of a mosaic in a holistic investment strategy
Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies
In the context of portfolio management, the terms private client, high-net-worth investor, and individual investor are used virtually interchangeably to reference the unique challenges of managing personal or family assets. Although a more precise definition of the individual investor is elusive, the basic need to properly manage one’s financial affairs is self-evident, and the precedent for seeking professional management is well established.
Chapter 2: Managing Individual Investor Portfolios
Managing Investment Portfolios: A Dynamic Process
Scanlan spoke at a BGI news conference announcing the SponsorMatch DC annuity product, describing it as a technology aimed at bringing the best of defined benefit investing into defined contribution options.
BGI SponsorMatch / DC Annuity Product Launch
Testifying as CEO and President of Renaissance Institutional Management, Scanlan appeared jointly with former BGI colleague Carter Lyons. He spoke about defined benefit plans, arguing they offer the most robust form of retirement security due to professional asset management, reduced costs from commingling, and diversification of longevity risk, and advocated short-term DB funding relief. A noted quote: 'Retirement is an income driven process and we're living in a lump sum world.'
DOL ERISA Advisory Council Testimony on Approaches to Retirement Security
Witness (CEO and President, Renaissance Institutional Management)
Implications of the Retirement Crisis for Asset Managers
Scanlan presented findings from the BGI study at a news briefing, stating that one-half of all middle-class Americans will have one-quarter less in retirement than they realize.
Release of 'The Future Shock of Retirement' Study
Scanlan testified as Managing Director and head of BGI's Americas institutional business at the 110th Congress hearing on H.R. 3185. He supported fee disclosure by category to plan sponsors, conflict-of-interest disclosure, DOL standardized fund fact sheets, simplified participant disclosures, and bringing DB plan investment disciplines into the DC marketplace. He identified three root causes of DC plan failure: inadequate contributions; low returns with high fees; and lack of a distribution strategy.
Testimony on H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act of 2007
Trends in Private Equity and Institutional Investing
Matthew Scanlan is a Strategic Operating Partner at Valeas Capital Partners, a role he assumed in 2024 to advise the firm and its portfolio companies in the financial services vertical. His career in the investment management industry spans more than three decades and includes chief executive officer positions at several asset management firms.
Of the three dimensions of investing - return, risk, and cost - investors have direct control only over cost. The subject here is five common assumptions about fees, which are a major component of costs. Three of the myths concern appropriate fee level and structure, fixed versus incentive, and the value of high water marks; two others concern fees in particular contexts. Do hedge funds deserve their high fees, and can investors always separate alpha from beta, and pay appropriately for each? The core thesis is that fees should not be an overriding investor concern, and high-fee products are worthwhile only if they deliver sufficiently high risk-adjusted returns.
fees, hedge funds, alpha and beta, investment management
Although finance practitioners almost universally learn in school that the Sharpe market model, which separates all returns into alpha and beta, is the starting point for a number of key investment insights, they often forget, or disregard, this knowledge once they are on the job. The five most important insights that a practitioner should hold dear, regardless of what the boss says, are 1) the importance of making alpha and beta decisions separately; 2) the zero-sum nature of active management; 3) the different criteria needed to make alpha and beta decisions; 4) the great value of alpha successfully delivered; and 5) the desirability of paying appropriate fees for each return component or, in other words, high fees for alpha, low fees for beta.
Five Principles to Hold Onto (Even When Your Boss Says the Opposite)
portfolio theory, exchange-traded funds and applications
In this article, Donoho, Crenian, and Scanlan report the results of their study into the cost of institutional investor impatience. Using Monte Carlo simulation techniques, the authors construct an idealized world with a universe of investment managers of precisely quantified skill, with skill levels varying among the managers. Although many institutions base manager hiring decisions heavily on the manager’s performance in the most recent months or years, the authors’ simulations show that institutions that rely on longer performance horizons of 5–10 years are more likely to find and stick with the better managers. This happens because on shorter time scales, the relatively few highly skilled managers are often temporarily outperformed by one of the many lesser-skilled managers, specifically, unskilled managers who have recently happened to simply be lucky. Hence, if a plan that previously was long-term oriented starts to hire managers based on short-term results, it will often find that the newly chosen manager underperforms both his own previous performance and also the manager previously managing the plan’s funds. It can, however, truly take patience to keep a skilled manager in a fund portfolio. In the authors’ simulations, skilled managers have deeper, longer, and more frequent drawdowns than many investors would expect.
Is Patience a Virtue? The Unsentimental Case for the Long View in Evaluating Returns
manager selection, simulations, portfolio management, multi-asset allocation
Although the theory of active management suggests that breadth is the key to a high information ratio (IR) and thus success in active management, high conviction is another route to a high IR and one at which most investment management firms are more likely to succeed. High-conviction active managers are those that develop forecasts for a small number of securities that they are willing to hold in substantial weights. Such 'concentrated active' funds deserve serious consideration by investors building broadly diversified portfolios of managers. The authors indicate how one might conduct the fundamental analysis leading to high-conviction portfolios. The principles discussed apply equally to long-only and long–short portfolio structures, although long–short investing involves risks (and thus risk-control disciplines) that long-only managers need not worry about.
No Fear of Commitment: The Role of High-Conviction Active Management
fundamental equity analysis, portfolio construction
The movement toward indexation in the past decade has left many institutional investors thinking, 'This can’t be all there is to my job. Let me learn something about active management.' In an interview with Institutional Investor Journals, Larry Siegel and Matt Scanlan urge investors to include high-conviction active managers in their portfolios and describe how to identify those with true skill. The process of building a winning portfolio of managers is akin to a high-conviction manager building a winning portfolio of a few concentrated positions, they explain. Siegel and Scanlan discuss the evolution of their thinking on this topic and reveal some personal vignettes. Siegel is Gary P. Brinson Director of Research at the CFA Institute Research Foundation and Senior Advisor to Ounavarra Capital. Scanlan is Chief Executive Officer at RS Investments .
Practical Applications of No Fear of Commitment: The Role of High-Conviction Active Management
A BGI research study using data from the Health and Retirement Study that simulated shocks to Social Security and home equity to strip out the false sense of security those assets provide. Key findings: among the middle wealth decile, 40% of total wealth comes from Social Security and home equity; controlling for reductions in government benefits and home equity, one-half of middle class Americans stand to lose 25% of their retirement wealth compared to expectations. The study identified the 'wealth effect' - counting illiquid home equity as spendable retirement wealth - as a major source of retirement insecurity, and proposed solutions at the government, employer, and individual levels.
retirement security, Social Security, home equity, defined contribution plans
Since the middle of the twentieth century, employees have reasonably expected their employers to provide a major part of the means by which they can retire. The traditional pension plan, known as the defined benefit (DB) plan, and one of the legs of the 'three-legged stool' of retirement security, is the focus of this article. All three legs of the stool are now arguably in crisis, but if you like to find encouragement in small blessings, the problems of DB plans are in principle the easiest to solve. This article examines the current crisis and makes suggestions on a plan of action to rectify it.
long-term investing, retirement investing, retirement, pension funds
Matthew H. Scanlan, Managing Director of Americas Institutional Business at Barclays Global Investors, testifies at a U.S. House of Representatives Committee on Education and Labor hearing concerning 401(k) fees on October 4, 2007.
From 2009 to 2011, Scanlan served as President and CEO of Renaissance Institutional Management, the institutional investment subsidiary of Renaissance Technologies, based in New York. He was responsible for client management and product development, reporting directly to James Simons. He also testified before the U.S. Department of Labor's ERISA Advisory Council during this period on approaches to retirement security.
Scanlan earned a Masters in Management with a focus on Finance, Accounting, and Management Policy from the J.L. Kellogg Graduate School of Management at Northwestern University (class of 1981). He received his Bachelor of Science in Public Economics from the University of Southern California, graduating Phi Beta Kappa, Magna Cum Laude, and as Graduate of the Year.
Scanlan has served as a Member of the Board of Directors of Adams Street Partners since 2018. Adams Street Partners is a leading global private markets investment firm headquartered in Chicago, with a focus on private equity, private credit, and real assets.
Yes. Scanlan contributed Chapter 3 — 'The Ever-Evolving Uses of Indexing: Why the Active versus Index Debate Is Over' — to Active Index Investing (Wiley Finance, 2004), edited by Steven Schoenfeld. He also co-authored Chapter 2 — 'Managing Individual Investor Portfolios' — in the third edition of Managing Investment Portfolios: A Dynamic Process (Wiley / CFA Institute Investment Series, 2007), one of the most widely circulated institutional finance texts in the world.
Inquiries regarding speaking engagements — including academic lectures, industry panels, and policy forums — can be submitted through the contact page at matthewscanlan.com/contact.
'The Future Shock of Retirement' is a BGI research study co-authored by Scanlan, Jonathan Cohen, and Matthew O'Hara, released in April 2008. Using data from the Health and Retirement Study, it modeled the impact of realistic reductions in Social Security benefits and home equity values on middle-income American households. Its central finding — that half of middle-class Americans would have a quarter less in retirement than they expected — was widely cited and directly informed Scanlan's 2009 testimony before the DOL ERISA Advisory Council.
Matthew H. Scanlan, CFA, is an investment executive with more than 40 years of CEO-level experience across indexing, quantitative, active, and private equity strategies. He currently serves as Strategic Operating Partner at Valeas Capital Partners and on the boards of Adams Street Partners, Kennedy Capital Management, and Exos Financial Group. He previously held CEO positions at RS Investments, Renaissance Institutional Management, and Barclays Global Investors' Americas institutional business.
Yes. Scanlan is a CFA charterholder and served on the Board of Governors of the CFA Institute. He chaired the CFA Institute's Executive Advisory Board on the curriculum and served on the candidate curriculum committee advisory board. He holds NASD Series 7, 24, 63, and 65 registrations and an NFA Series 3 registration.
From 1996 to 2009, Scanlan served as Managing Director and CEO of Institutional Business at Barclays Global Investors in San Francisco — at the time the world's largest institutional investment management firm. He led 80 professionals across San Francisco, Boston, Chicago, Montreal, Toronto, Brazil, and Mexico City, managed five major account relationships that ranked among BGI's top ten revenue-generating clients, and served on BGI's Americas Executive Committee and Technology and Operations Executive Committee.
Yes. On July 21, 2009, Scanlan testified before the U.S. Department of Labor's ERISA Advisory Council as President and CEO of Renaissance Institutional Management, on the topic of approaches to retirement security. He argued for the structural advantages of defined-benefit plan design and advocated for short-term DB funding relief, offering the observation: 'Retirement is an income-driven process and we're living in a lump-sum world.'
Scanlan has authored or co-authored two book chapters, seven peer-reviewed journal articles, four industry publications, and the BGI research study 'The Future Shock of Retirement.' His work has appeared in the Journal of Portfolio Management, the Journal of Investing, Pensions & Investments, and the Wiley Finance and CFA Institute Investment Series book collections. A full list is available on the Publications page at matthewscanlan.com/publications.
The Bernstein Fabozzi/Jacobs Levy Award is an annual prize presented by the Journal of Portfolio Management for the best article published in the journal, as voted by readers. Scanlan and his co-authors Ronald N. Kahn and Laurence B. Siegel received the award in 2007 for 'Five Myths About Fees,' published in the Spring 2006 issue.
Yes. Scanlan served as principal spokesperson for the 2007 BGI SponsorMatch DC annuity product launch and the 2008 release of 'The Future Shock of Retirement' study — both of which generated significant industry coverage. He was also a principal speaker at Northern Trust's Family Financial Forum and the Goldman Sachs Equity Workshop earlier in his career. A full list of speaking appearances is available at matthewscanlan.com/speaking.
Scanlan spent thirteen years at Barclays Global Investors, at the time the world's largest index manager and the firm that created the iShares ETF platform. During that time he led the Americas institutional business and became one of the leading advocates for indexing as a strategic rather than merely defensive tool. His 2004 book chapter in Active Index Investing and his 2002 BGI Investment Insights article 'Indexing in the 21st Century' both develop this argument in depth.
Scanlan has received two major professional honors: the CFA Institute's C. Stewart Sheppard Award (2006), an international honor for contributions to investment education and the global CFA curriculum; and the Bernstein Fabozzi/Jacobs Levy Award for Best Article (2007), awarded by the Journal of Portfolio Management readership for 'Five Myths About Fees.'
Scanlan's expertise spans institutional asset management, indexing and quantitative strategies, active equity management, retirement policy, 401(k) fee disclosure, defined-benefit and defined-contribution plan design, private equity operating partnerships, and fiduciary governance. His career spans the full spectrum from passive to active to alternative strategies, giving him an unusually broad perspective on how institutional investors should construct and manage their investment programs.
From 2017 to 2024, Scanlan served as an Operating Executive at Golden Gate Capital, a San Francisco-based private equity firm. In that role he focused on investment opportunities and portfolio company support in the financial services sector.
Scanlan currently serves on the boards of Adams Street Partners (Chicago), Kennedy Capital Management (St. Louis), and Exos Financial Group (New York). He also serves as a member of the Kellogg Private Equity Advisory Council at Northwestern University.
Since 2024, Scanlan has served as Strategic Operating Partner at Valeas Capital Partners, advising the firm and its portfolio companies in the financial services vertical. He also serves on the boards of Adams Street Partners (since 2018), Kennedy Capital Management, and Exos Financial Group.
From 2012 to 2016, Scanlan served as Chief Executive Officer and Chief Investment Officer of RS Investments, a $20 billion San Francisco-based investment management firm majority-owned by Guardian Life Insurance. He also served as President and Trustee of RS Investment Trust and RS Variable Products Trust, and sat on the Senior Leadership Team of Guardian Life Insurance. He led the firm's expansion into emerging markets and value strategies and oversaw its 2015 acquisition by Victory Capital.
Scanlan has been active in private equity in an operating and governance capacity since 2017. He served as an Operating Executive at Golden Gate Capital (2017–2024), working with financial services portfolio companies, and joined Valeas Capital Partners as Strategic Operating Partner in 2024. He has served on the Board of Directors of Adams Street Partners since 2018, and is a member of the Kellogg Private Equity Advisory Council.
'Five Myths About Fees' is an article co-authored by Scanlan, Ronald N. Kahn, and Laurence B. Siegel, published in the Journal of Portfolio Management in Spring 2006 (Vol. 32, No. 3). It examines five common misconceptions about investment management fees and argues that fees should not be the overriding concern in manager selection — high fees are rational when products deliver sufficiently high risk-adjusted net returns. It received the 2007 Bernstein Fabozzi/Jacobs Levy Award for Best Article, voted by the journal's readership.
Yes. Between his departure from RS Investments in 2016 and his role at Golden Gate Capital, Scanlan served as a Consultant at Angel Island Capital, LLC (2016–2018), a San Francisco-based firm affiliated with Golden Gate Capital.
Scanlan served as CEO and CIO of RS Investments, a $20 billion active equity manager, from 2012 to 2016. His journal articles — particularly 'No Fear of Commitment' (2014), 'Is Patience a Virtue?' (2010), and 'Five Principles to Hold Onto' (2009) — address how institutional investors should select, evaluate, and retain active managers, and argue for the rationality of high-conviction, concentrated active strategies as a complement to indexation.
Across his research, congressional testimony, and policy writing, Scanlan has consistently argued that defined-benefit plans offer a structurally superior form of retirement security — providing professional asset management, cost efficiencies from commingled assets, and the diversification of longevity risk across a large participant pool. He has also argued that the DC system, as currently structured, fails participants in three recurring ways: inadequate contribution rates, returns eroded by high fees, and the absence of a systematic distribution strategy in retirement.
Yes. On October 4, 2007, Scanlan testified before the U.S. House Committee on Education and Labor at a hearing on H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act of 2007. Appearing as Managing Director and head of BGI's Americas institutional business, he supported fee disclosure requirements, conflict-of-interest transparency, and the application of defined-benefit investment disciplines to the defined-contribution marketplace.
Scanlan began his career at O'Connor & Company in Chicago (1981–1991), where he served as an Internal Fund Manager and developed a proprietary stock index arbitrage trading program. He then joined The Northern Trust Company (1991–1995) as Vice President and Senior Portfolio Manager in the Structured Equity Group, managing over $3.5 billion in institutional and trust client portfolios. He subsequently worked as a Financial Advisor at Sanford C. Bernstein & Company (1995–1996), specializing in tax strategy for large multi-family trusts.
Yes. Scanlan has guest lectured at the Kellogg School of Management's Asset Management Practicum on two occasions: in the 2011–2012 academic year on the implications of the retirement crisis for institutional asset managers, and in the 2021–2022 academic year on trends in private equity and institutional investing. He has also lectured on capital markets research at Moscow State University and Omskaya University in Russia (1997–1998) as a Special Consultant selected by the U.S. Agency for International Development.
The C. Stewart Sheppard Award is presented by the CFA Institute to recognize outstanding contributions to investment education and the development of the global CFA curriculum. Scanlan received the award in 2006 in recognition of his work chairing the CFA Institute's Executive Advisory Board on the curriculum and his broader contributions to investment research and education.
Additional peer-reviewed articles include: 'The Retirement Benefits Crisis' (Journal of Investing, Summer 2006, with Carter M. Lyons); 'Five Principles to Hold Onto' (Journal of Portfolio Management, Winter 2009, with Laurence B. Siegel and M. Barton Waring); 'Is Patience a Virtue?' (Journal of Portfolio Management, Summer 2010, with David L. Donoho and Robert A. Crenian); 'No Fear of Commitment' (Journal of Investing, Fall 2014, with Laurence B. Siegel); and 'Practical Applications of No Fear of Commitment' (PM Research Snapshots, 2014, with Laurence B. Siegel).
Inquiries regarding board, advisory, or consulting opportunities can be directed through the contact page at matthewscanlan.com/contact.
As developed in 'Five Myths About Fees' (2006) and 'Five Principles to Hold Onto' (2009), Scanlan's view is that fees should be evaluated relative to value delivered — not minimized as an end in themselves. He argues that alpha and beta decisions should be made separately, with high fees justified for genuine skill-based alpha and low fees appropriate for beta exposure. Investors who treat cost as the primary selection criterion, he argues, systematically underinvest in genuinely skilled active managers.
Past board and governance roles include: Board of Governors, CFA Institute (where he chaired the Executive Advisory Board); Board of the Marshall School of Business, University of Southern California; Board of Trustees, Mechanics Institute, San Francisco (where he served as Chairman); and Investment Committee Chairman, City College of San Francisco. He also served as President and Trustee of RS Investment Trust and RS Variable Products Trust during his tenure at RS Investments.
You can reach Matthew Scanlan via the contact page at matthewscanlan.com/contact.
13G SEC Filing for The Guardian Life Insurance Company of America
Coverage of Scanlan's appointment to the Adams Street Partners board.
Adams Street Hires Matthew Scanlan for Board of Directors
Adams Street Partners adds board directors
Adams Street Partners Adds Board Directors
Reports Scanlan, as managing director and head of BGI's Americas institutional business, describing a new DC annuity product as a revolutionary technology, with BGI filing 14 patent claims on the process.
Barclays adds annuity feature to 401(k)s
Covers the BGI SponsorMatch product launch, quoting Scanlan on trying to bring the best of defined benefit plans into a defined contribution option.
Barclays Adds Annuity Feature to 401(k)s
Renaissance Technologies, the black-box hedge fund founded by the mathematician James Simons, has hired Matthew Scanlan of Barclays Global Investors to run its institutional unit.
Reports Scanlan's departure from Barclays Global Investors to Renaissance Institutional Management.
Charles J. Yang, CFA, Elected Chair of CFA Institute Board of Governors
Notes Scanlan's CFA Institute C. Stewart Sheppard Award, his service on the candidate curriculum committee advisory board and chairing of the executive advisory board, and his role as head of BGI's Americas institutional business.
Class Notes 1981 - Kellogg World Alumni Magazine
Feature on the defined contribution market quoting Scanlan, head of BGI's Americas institutional business, on bringing the best of defined benefit investing to DC plans; notes BGI's $188 billion in defined contribution assets.
Guardian Life Insurance 2012 Annual Report
Matt Scanlan Becomes CEO of RS Investments
Press release announcing Scanlan's appointment to the Adams Street Partners Board of Directors, with quotes from Bon French and Jeff Diehl.
Matthew H. Scanlan Joins Adams Street Partners Board of Directors
Renaissance Technologies LLC, the multibillion dollar hedge fund that uses complicated computer models, hired a new president and chief executive officer for its institutional business. The fund firm, which manages roughly $20 billion, hired Matthew Scanlan to replace Stephen Robert, who retired. Scanlan joins the firm from Barclays Global Investors where he worked for 12 years and was most recently the company's head of institutional business in the Americas.
MOVES-Renaissance, Fidelity, CastleOak, Oppenheimer
News report confirming Scanlan's appointment as CEO of RS Investments, independent of the company press release.
Identifies Matthew Scanlan as client contact and Blake Grossman as chief investment officer at BGI, confirming Scanlan's senior client-facing role at least as early as 2002.
Profiles of the Top 50 Global/International Managers
Matthew H. Scanlan has joined Renaissance Technologies LLC as Renaissance Institutional Management LLC's President and CEO, the New York firm announced.
Renaissance Institutional Management Taps Scanlan as New Chief
Highly secretive Renaissance Technologies Corp., hit by performance problems and huge redemptions in its largest open hedge fund, may concede greater transparency in the strategy for large institutional investors.
Renaissance taps Barclays Global Investors for chief executive
Coverage of the BGI 'Future Shock of Retirement' study co-authored by Scanlan, with verbatim quotes on the severity of the retirement savings shortfall.
'By transitioning the GNR Team to SailingStone, we are able to ensure that our clients will continue to benefit from the GNR strategy while primarily focusing our in-house strategies on our broad investor base,' said Matthew Scanlan, CEO of RS Investments.
RS Investments Announces Formation of New Investment Adviser, SailingStone Capital Partners LLC
RS Investments has appointed Matthew Scanlan as chief executive officer. Scanlan was previously president and CEO of Renaissance Institutional Management, and in a prior role, headed Barclays Global Investors' institutional business.
RS Investments Names Chief Executive Officer
RS Investments ready to take bigger piece of pie
Profile of RS Investments as a $26 billion firm, quoting Scanlan on seeking opportunities to increase scale; credits him with adding hundreds of billions to BGI's institutional business.
RS Investments Ready to Take Bigger Piece of Pie
'The addition of Tyler and Denny will allow the RS Value Team to provide deeper analysis of companies within the rapidly changing energy and technology sectors,' said Matthew Scanlan, CEO of RS Investments. 'We are pleased to have attracted such high caliber research analysts to RS. We believe our clients will benefit from the near 40-years of combined investment experience they bring to the platform.'
RS Investments Strengthens Value Team with Addition of Key Energy, Technology Analysts
Coverage of Scanlan's appointment as CEO of RS Investments.
Scanlan's BGI departure is a symptom of rough times
Frames Scanlan's departure from BGI as illustrating the difficulty large, troubled financial institutions face in retaining top money management executives.
Scanlan's BGI Departure Is a Symptom of Rough Times
Masters in Management in Finance, Accounting, Management Policy
Recognized expertise in DB and DC plan design, fee disclosure policy, and retirement security; congressional and DOL advisory council testimony on these topics.
Defined Benefit & Defined Contribution Retirement Plans
Decades of leadership in institutional asset management, including running BGI's Americas institutional business and serving as CEO of multiple asset management firms.
Co-author of the award-winning 'Five Myths About Fees' on fee structures and risk-adjusted returns.
Investment Management Fees & Cost Analysis
Operating executive and strategic operating partner roles in private equity (Golden Gate Capital, Valeas Capital Partners), focused on financial services.
Masters in Management, Finance, Accounting, Management Policy
Launch of BGI SponsorMatch, a defined contribution annuity product; 14 patent claims filed on the process
Defined benefit and defined contribution plan design; retirement security; short-term DB funding relief
U.S. Department of Labor advisory council
Kellogg School of Management Asset Management Practicum Spring 2011 to Winter 2012
Kellogg School of Management, Northwestern University
Retirement security research; risks to middle-class retirement wealth from Social Security and home equity assumptions
401(k) fee disclosure and retirement security; bringing defined benefit investment disciplines to defined contribution plans
Room 2175, Rayburn House Office Building
Kellogg School of Management Asset Management Practicum Spring 2021 to Winter 2022
Member of the Board of Directors of Adams Street Partners, a leading private markets investment firm headquartered in Chicago.
Member of Board of Directors at Adams Street Partners
Led the Institutional Business for the world's largest institutional investment management firm. Managed 80 professionals across San Francisco, Boston, Chicago, Montreal, Toronto, Brazil, and Mexico City. Managed five major account relationships, all ranking among the top ten revenue-generating clients in the firm. Served on BGI's Americas Executive Committee and Technology and Operations Executive Committee.
Managing Director & CEO of Institutional Business
Managing Director & CEO of Institutional Business at Barclays Global Investors
Operating Executive focused on investment opportunities in the financial services sector.
Operating Executive at Golden Gate Capital
Internal Fund Manager responsible for managing funds in select portfolios. Developed and programmed a proprietary computer stock index arbitrage trading program for proprietary trading accounts, which achieved superior performance in all periods managed.
Internal Fund Manager at O'Connor & Company
President and CEO of Renaissance Institutional Management, the institutional subsidiary of Renaissance Technologies, based in New York. Led client management and product development; reported directly to James Simons.
President & CEO at Renaissance Institutional Management (Renaissance Technologies)
Chief Executive Officer and Chief Investment Officer of RS Investments, a $20 billion San Francisco-based investment management firm. Also served as President and Trustee of RS Investment Trust and RS Variable Products Trust. Served on the Senior Leadership Team of Guardian Life Insurance, New York.
Chief Executive Officer & Chief Investment Officer
Chief Executive Officer & Chief Investment Officer at RS Investments (RS Investment Management Co. LLC)
Developed and marketed financial planning models for wealth management clients. Marketed directly to senior institutional wealth advisors and family office legal staff. Taxation specialty for large multi-family trusts.
Financial Advisor at Sanford C. Bernstein & Company, Inc.
Personally managed portfolios and provided investment counseling to large institutional and trust clients. Managed over $3.5 billion of client funds across various portfolios. Specialized in quantitative asset allocation, equity diversification, structured products, and management of concentrated low-cost tax basis portfolios. Principal speaker at Northern Trust's Family Financial Forum and the Goldman Sachs Equity Workshop.
Vice President & Senior Portfolio Manager, Structured Equity Group
Vice President & Senior Portfolio Manager, Structured Equity Group at The Northern Trust Company
Advises the firm and its portfolio companies in the financial services vertical.
Strategic Operating Partner at Valeas Capital Partners
Served on the Board of Governors of the CFA Institute, chaired its executive advisory board, and served on the candidate curriculum committee advisory board (concurrent with later BGI years).
Board of Governors; chaired executive advisory board; candidate curriculum committee advisory board
CFA charterholder. Served on the Board of Governors of the CFA Institute, chaired its executive advisory board, and served on the candidate curriculum committee advisory board.
Served on the Finance Board of City College of San Francisco (confirmed in 2007 congressional testimony introduction).
Member of the Kellogg Private Equity Advisory Council.
Member of the Board of Trustees of the Mechanics Institute in San Francisco.
Member of the board of the Marshall School of Business at the University of Southern California.
Barclays Global Investors Research Study (not a journal publication)
The Journal of Portfolio Management, Vol. 32, No. 3, pp. 56-64
Member of the Board of Directors since 2018.
Former employer; Scanlan headed the Americas institutional business for approximately 12 years.
Global CEO / CIO counterpart at BGI throughout Scanlan's tenure.
President & CEO of Guardian Life Insurance; a 2011 chance meeting led to Scanlan joining RS Investments as CEO.
Former employer; Scanlan was an Operating Executive focused on financial services.
Matthew and Joseph have collaborated on a number of efforts ranging from asset management to technology
Parent firm of Renaissance Institutional Management, where Scanlan was President and CEO.
Founder & Chairman of Adams Street Partners; Kellogg '77 MBA; co-presenter with Scanlan at the Kellogg Asset Management Practicum; appointed Scanlan to the Adams Street board.
Outgoing CEO of RS Investments who recruited Scanlan as his successor and stayed on to assist the transition.
Current employer; Scanlan serves as Strategic Operating Partner. Co-founded by Rob Little and Ed Woiteshek, former Hellman & Friedman executives.
What was Matthew Scanlan's role at Renaissance Institutional Management?
What is Matthew Scanlan's role at Adams Street Partners?
Has Matthew Scanlan contributed to any books?
Is Matthew Scanlan available for speaking engagements?
What is 'The Future Shock of Retirement'?
What did Matthew Scanlan do at Barclays Global Investors?
Has Matthew Scanlan testified before the Department of Labor?
Has Matthew Scanlan spoken at industry events?
What is Matthew Scanlan's background in indexing?
What awards has Matthew Scanlan received?
What are Matthew Scanlan's areas of expertise?
What was Matthew Scanlan's role at Golden Gate Capital?
What boards does Matthew Scanlan currently serve on?
What did Matthew Scanlan do at RS Investments?
What is Matthew Scanlan's background in private equity?
Did Matthew Scanlan work at Angel Island Capital?
What is Matthew Scanlan's background in active management?
What is Matthew Scanlan's view on defined-benefit vs. defined-contribution plans?
Has Matthew Scanlan testified before Congress?
Where did Matthew Scanlan work early in his career?
Has Matthew Scanlan spoken at universities or academic institutions?
What other journal articles has Matthew Scanlan written?
Is Matthew Scanlan available for board roles or advisory positions?
What is Matthew Scanlan's view on investment management fees?
What boards has Matthew Scanlan served on in the past?
How can I get in touch with Matthew Scanlan?
J.L. Kellogg School of Management, Northwestern University
University of Southern California (Marshall School of Business)
Former BGI Managing Director who testified jointly with Scanlan before the DOL ERISA Advisory Council in 2009.
Direct report at BGI (MD, U.S. DC Group); co-presented the BGI annuity product launch and testified on a successor 401(k) bill.
BGI colleague (Global Head of Equity Research) and co-author of 'Five Myths About Fees.'
Director of Research at the Ford Foundation Investment Division and co-author of 'Five Myths About Fees.'
Matthew Scanlan is an investment executive with 40+ years of CEO-level experience across indexing, quantitative, active, and private equity strategies.
Bernstein Fabozzi / Jacobs Levy Award - Best Article (Jacobs Levy Equity Management / PM Research (Journal of Portfolio Management), 2007)
C. Stewart Sheppard Award (CFA Institute, 2006)