About
type: WebPage
about: Matthew Scanlan
main entity: Matthew Scanlan
description: 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.
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date modified: 2026-06
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Matthew Scanlan
type: Person
given name: Matthew
additional name: H.
family name: Scanlan
honorific suffix: CFA
alternate name: Matt Scanlan
alternate name: Matthew H. Scanlan, CFA
description: 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.
job title: Strategic Operating Partner
works for: Valeas Capital Partners
gender: male
knows language: English
disambiguating description: Matthew Scanlan is an investment executive with 40+ years of CEO-level experience across indexing, quantitative, active, and private equity strategies.
has occupation: occupation-valeas-capital-partners-strategic-operating-partner-role
has occupation: occupation-golden-gate-capital-operating-executive-role
has occupation: occupation-rs-investments-rs-investment-management-co-llc-chief-a95fba-role
has occupation: occupation-renaissance-institutional-management-renaissance-tech-ef9bcf-role
has occupation: occupation-barclays-global-investors-managing-director-ceo-of-in-26159e-role
has occupation: occupation-the-northern-trust-company-vice-president-senior-port-f772c7-role
has occupation: occupation-sanford-c-bernstein-company-inc-financial-advisor-role
has occupation: occupation-oconnor-company-internal-fund-manager-role
has occupation: occupation-adams-street-partners-member-of-board-of-directors-role
alumni of: eduorg-jl-kellogg-school-of-management-northwestern-university-alumniof
alumni of: eduorg-university-of-southern-california-marshall-school-of-a346f9-alumniof
has credential: Masters in Management in Finance, Accounting, Management Policy
has credential: Bachelor of Science
award: C. Stewart Sheppard Award (CFA Institute, 2006)
award: Bernstein Fabozzi / Jacobs Levy Award - Best Article (Jacobs Levy Equity Management / PM Research (Journal of Portfolio Management), 2007)
knows about: Institutional Asset Management
knows about: Defined Benefit & Defined Contribution Retirement Plans
knows about: Investment Management Fees & Cost Analysis
knows about: Private Equity Operating Leadership
member of: org-cfa-institute-memberof
affiliation: org-kellogg-school-of-management-northwestern-university-affiliation
affiliation: org-cfa-institute-affiliation
affiliation: org-usc-marshall-school-of-business-affiliation
affiliation: org-mechanics-institute-san-francisco-affiliation
affiliation: org-city-college-of-san-francisco-affiliation
knows: Valeas Capital Partners
knows: Adams Street Partners
knows: Barclays Global Investors
knows: Ronald N. Kahn
knows: Laurence B. Siegel
knows: Blake Grossman
knows: Kristi Mitchem
knows: T. Bondurant French
knows: Deanna M. Mulligan
knows: Terry Otton
knows: Carter Lyons
knows: Golden Gate Capital
knows: Renaissance Technologies
knows: Joseph Byrum
subject of: Profiles of the Top 50 Global/International Managers
subject of: Annuities Meet Their Match
subject of: Defined Contributions: Sticky Fingers
subject of: Barclays Adds Annuity Feature to 401(k)s
subject of: Retirement Might Be Worse Than We Think
subject of: BGI Loses Scanlan to Renaissance
subject of: Scanlan's BGI Departure Is a Symptom of Rough Times
subject of: New CEO Takes Reins at RS Investments
subject of: Scanlan Named CEO at RS Investments
subject of: RS Investments Ready to Take Bigger Piece of Pie
subject of: Matthew H. Scanlan Joins Adams Street Partners Board of Directors
subject of: Adams Street Partners Adds Board Directors
subject of: Adams Street Hires Matthew Scanlan for Board of Directors
subject of: Class Notes 1981 - Kellogg World Alumni Magazine
subject of: Barclays Executive Moves to Renaissance
subject of: RS Investments Names Chief Executive Officer
subject of: MOVES-Renaissance, Fidelity, CastleOak, Oppenheimer
subject of: Renaissance taps Barclays Global Investors for chief executive
subject of: Renaissance may lift veil - a bit
subject of: Guardian Life Insurance 2012 Annual Report
subject of: RS Investments Announces Formation of New Investment Adviser, SailingStone Capital Partners LLC
subject of: RS Investments Strengthens Value Team with Addition of Key Energy, Technology Analysts
subject of: 13G SEC Filing for The Guardian Life Insurance Company of America
subject of: Charles J. Yang, CFA, Elected Chair of CFA Institute Board of Governors
subject of: Renaissance Institutional Management Taps Scanlan as New Chief
subject of: Matt Scanlan Becomes CEO of RS Investments

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name: 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.
caption: 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.
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copyright year: 2026
about: Matthew Scanlan

Valeas Capital Partners
type: Organization

occupation-valeas-capital-partners-strategic-operating-partner-role
type: Role
has occupation: Strategic Operating Partner
start date: 2024
role name: Strategic Operating Partner at Valeas Capital Partners

Strategic Operating Partner
type: Occupation
description: Advises the firm and its portfolio companies in the financial services vertical.

occupation-golden-gate-capital-operating-executive-role
type: Role
has occupation: Operating Executive
start date: 2016
end date: 2024
role name: Operating Executive at Golden Gate Capital

Operating Executive
type: Occupation
description: Operating Executive focused on investment opportunities in the financial services sector.

occupation-rs-investments-rs-investment-management-co-llc-chief-a95fba-role
type: Role
has occupation: Chief Executive Officer & Chief Investment Officer
start date: 2012
end date: 2016
role name: Chief Executive Officer & Chief Investment Officer at RS Investments (RS Investment Management Co. LLC)

Chief Executive Officer & Chief Investment Officer
type: Occupation
description: 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.

occupation-renaissance-institutional-management-renaissance-tech-ef9bcf-role
type: Role
has occupation: President & CEO
start date: 2009
end date: 2011
role name: President & CEO at Renaissance Institutional Management (Renaissance Technologies)

President & CEO
type: Occupation
description: 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.

occupation-barclays-global-investors-managing-director-ceo-of-in-26159e-role
type: Role
has occupation: Managing Director & CEO of Institutional Business
start date: 1996
end date: 2009
role name: Managing Director & CEO of Institutional Business at Barclays Global Investors

Managing Director & CEO of Institutional Business
type: Occupation
description: 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.

occupation-the-northern-trust-company-vice-president-senior-port-f772c7-role
type: Role
has occupation: Vice President & Senior Portfolio Manager, Structured Equity Group
start date: 1991
end date: 1995
role name: Vice President & Senior Portfolio Manager, Structured Equity Group at The Northern Trust Company

Vice President & Senior Portfolio Manager, Structured Equity Group
type: Occupation
description: 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.

occupation-sanford-c-bernstein-company-inc-financial-advisor-role
type: Role
has occupation: Financial Advisor
start date: 1995
end date: 1996
role name: Financial Advisor at Sanford C. Bernstein & Company, Inc.

Financial Advisor
type: Occupation
description: 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.

occupation-oconnor-company-internal-fund-manager-role
type: Role
has occupation: Internal Fund Manager
start date: 1981
end date: 1991
role name: Internal Fund Manager at O'Connor & Company

Internal Fund Manager
type: Occupation
description: 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.

occupation-adams-street-partners-member-of-board-of-directors-role
type: Role
has occupation: Member of Board of Directors
start date: 2018
role name: Member of Board of Directors at Adams Street Partners

Member of Board of Directors
type: Occupation
description: Member of the Board of Directors of Adams Street Partners, a leading private markets investment firm headquartered in Chicago.

eduorg-jl-kellogg-school-of-management-northwestern-university-alumniof
type: OrganizationRole
alumni of: J.L. Kellogg School of Management, Northwestern University
start date: 1979
end date: 1981
role name: Masters in Management, Finance, Accounting, Management Policy

J.L. Kellogg School of Management, Northwestern University
type: CollegeOrUniversity

eduorg-university-of-southern-california-marshall-school-of-a346f9-alumniof
type: OrganizationRole
alumni of: University of Southern California (Marshall School of Business)
start date: 1974
end date: 1978
role name: Bachelor of Science

University of Southern California (Marshall School of Business)
type: CollegeOrUniversity

Masters in Management in Finance, Accounting, Management Policy
type: EducationalOccupationalCredential
credential category: degree
recognized by: J.L. Kellogg School of Management, Northwestern University
date created: 1981

Bachelor of Science
type: EducationalOccupationalCredential
credential category: degree
recognized by: University of Southern California (Marshall School of Business)
date created: 1978
description: Phi Beta Kappa, Magna Cum Laude

Institutional Asset Management
type: DefinedTerm
description: Decades of leadership in institutional asset management, including running BGI's Americas institutional business and serving as CEO of multiple asset management firms.
term code: expert

Defined Benefit & Defined Contribution Retirement Plans
type: DefinedTerm
description: Recognized expertise in DB and DC plan design, fee disclosure policy, and retirement security; congressional and DOL advisory council testimony on these topics.
term code: expert

Investment Management Fees & Cost Analysis
type: DefinedTerm
description: Co-author of the award-winning 'Five Myths About Fees' on fee structures and risk-adjusted returns.
term code: expert

Private Equity Operating Leadership
type: DefinedTerm
description: Operating executive and strategic operating partner roles in private equity (Golden Gate Capital, Valeas Capital Partners), focused on financial services.
term code: expert

org-cfa-institute-memberof
type: OrganizationRole
member of: CFA Institute
role name: professional
description: 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.

CFA Institute
type: Organization
type: NewsMediaOrganization

org-kellogg-school-of-management-northwestern-university-affiliation
type: OrganizationRole
affiliation: Kellogg School of Management, Northwestern University
role name: Private Equity Advisory Council member
description: Member of the Kellogg Private Equity Advisory Council.

Kellogg School of Management, Northwestern University
type: Organization

org-cfa-institute-affiliation
type: OrganizationRole
affiliation: CFA Institute
role name: Board of Governors; chaired executive advisory board; candidate curriculum committee advisory board
description: 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).

org-usc-marshall-school-of-business-affiliation
type: OrganizationRole
affiliation: USC Marshall School of Business
role name: Board Member
description: Member of the board of the Marshall School of Business at the University of Southern California.

USC Marshall School of Business
type: Organization

org-mechanics-institute-san-francisco-affiliation
type: OrganizationRole
affiliation: Mechanics Institute, San Francisco
role name: Board of Trustees
description: Member of the Board of Trustees of the Mechanics Institute in San Francisco.

Mechanics Institute, San Francisco
type: Organization

org-city-college-of-san-francisco-affiliation
type: OrganizationRole
affiliation: City College of San Francisco
role name: Finance Board
description: Served on the Finance Board of City College of San Francisco (confirmed in 2007 congressional testimony introduction).

City College of San Francisco
type: Organization

Valeas Capital Partners
type: Person
description: Current employer; Scanlan serves as Strategic Operating Partner. Co-founded by Rob Little and Ed Woiteshek, former Hellman & Friedman executives.

Adams Street Partners
type: Person
description: Member of the Board of Directors since 2018.

Barclays Global Investors
type: Person
description: Former employer; Scanlan headed the Americas institutional business for approximately 12 years.

Ronald N. Kahn
type: Person
description: BGI colleague (Global Head of Equity Research) and co-author of 'Five Myths About Fees.'

Laurence B. Siegel
type: Person
description: Director of Research at the Ford Foundation Investment Division and co-author of 'Five Myths About Fees.'

Blake Grossman
type: Person
description: Global CEO / CIO counterpart at BGI throughout Scanlan's tenure.

Kristi Mitchem
type: Person
description: Direct report at BGI (MD, U.S. DC Group); co-presented the BGI annuity product launch and testified on a successor 401(k) bill.

T. Bondurant French
type: Person
description: 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.

Deanna M. Mulligan
type: Person
description: President & CEO of Guardian Life Insurance; a 2011 chance meeting led to Scanlan joining RS Investments as CEO.

Terry Otton
type: Person
description: Outgoing CEO of RS Investments who recruited Scanlan as his successor and stayed on to assist the transition.

Carter Lyons
type: Person
description: Former BGI Managing Director who testified jointly with Scanlan before the DOL ERISA Advisory Council in 2009.

Golden Gate Capital
type: Person
description: Former employer; Scanlan was an Operating Executive focused on financial services.

Renaissance Technologies
type: Person
description: Parent firm of Renaissance Institutional Management, where Scanlan was President and CEO.

Joseph Byrum
type: Person
description: Matthew and Joseph have collaborated on a number of efforts ranging from asset management to technology

Profiles of the Top 50 Global/International Managers
type: NewsArticle
description: 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.
date published: 2002-07-08
alternative headline: Top 50 Global/International Managers
additional type: article
publisher: Pensions & Investments
about: Matthew Scanlan

Annuities Meet Their Match
type: NewsArticle
description: 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.
date published: 2007-10-15
alternative headline: Annuities meet their match
additional type: news article
publisher: Pensions & Investments
about: Matthew Scanlan

Defined Contributions: Sticky Fingers
type: NewsArticle
description: 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.
date published: 2007-11
alternative headline: Sticky Fingers
additional type: profile
publisher: Institutional Investor
about: Matthew Scanlan

Barclays Adds Annuity Feature to 401(k)s
type: NewsArticle
description: Covers the BGI SponsorMatch product launch, quoting Scanlan on trying to bring the best of defined benefit plans into a defined contribution option.
date published: 2007-10-10
alternative headline: Barclays adds annuity feature to 401(k)s
additional type: news article
publisher: InvestmentNews
about: Matthew Scanlan

Retirement Might Be Worse Than We Think
type: NewsArticle
description: Coverage of the BGI 'Future Shock of Retirement' study co-authored by Scanlan, with verbatim quotes on the severity of the retirement savings shortfall.
date published: 2008-04-30
alternative headline: Retirement Might Be Worse Than We Think
additional type: article
publisher: PlanSponsor
about: Matthew Scanlan

BGI Loses Scanlan to Renaissance
type: NewsArticle
description: Reports Scanlan's departure from Barclays Global Investors to Renaissance Institutional Management.
date published: 2009-03-03
alternative headline: BGI loses Scanlan to Renaissance
additional type: news article
publisher: Pensions & Investments
about: Matthew Scanlan

Scanlan's BGI Departure Is a Symptom of Rough Times
type: NewsArticle
description: Frames Scanlan's departure from BGI as illustrating the difficulty large, troubled financial institutions face in retaining top money management executives.
date published: 2009-03-09
alternative headline: Scanlan's BGI departure is a symptom of rough times
additional type: news article
publisher: Pensions & Investments
about: Matthew Scanlan

New CEO Takes Reins at RS Investments
type: NewsArticle
description: News report confirming Scanlan's appointment as CEO of RS Investments, independent of the company press release.
date published: 2012-01-04
alternative headline: New CEO Takes Reins at RS Investments
additional type: news article
publisher: Pensions & Investments
about: Matthew Scanlan

Scanlan Named CEO at RS Investments
type: NewsArticle
description: Coverage of Scanlan's appointment as CEO of RS Investments.
date published: 2012-01-09
alternative headline: Scanlan named CEO at RS Investments
additional type: news article
publisher: Financial Planning
about: Matthew Scanlan

RS Investments Ready to Take Bigger Piece of Pie
type: NewsArticle
description: 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.
date published: 2014-12-08
alternative headline: RS Investments ready to take bigger piece of pie
additional type: profile
publisher: Pensions & Investments
about: Matthew Scanlan

Matthew H. Scanlan Joins Adams Street Partners Board of Directors
type: NewsArticle
description: Press release announcing Scanlan's appointment to the Adams Street Partners Board of Directors, with quotes from Bon French and Jeff Diehl.
date published: 2018-03-06
alternative headline: Matthew H. Scanlan, Board of Directors
additional type: article
publisher: Adams Street Partners
about: Matthew Scanlan

Adams Street Partners Adds Board Directors
type: NewsArticle
description: Coverage of Scanlan's appointment to the Adams Street Partners board.
date published: 2018-03
alternative headline: Adams Street Partners adds board directors
additional type: news article
publisher: Private Equity Wire
about: Matthew Scanlan

Adams Street Hires Matthew Scanlan for Board of Directors
type: NewsArticle
description: Coverage of Scanlan's appointment to the Adams Street Partners board.
date published: 2018-03
alternative headline: Adams Street hires Matthew Scanlan
additional type: news article
publisher: PE Hub
about: Matthew Scanlan

Class Notes 1981 - Kellogg World Alumni Magazine
type: NewsArticle
description: 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.
date published: 2006
alternative headline: Class Notes 1981
additional type: article
publisher: Kellogg World Alumni Magazine
about: Matthew Scanlan

Barclays Executive Moves to Renaissance
type: NewsArticle
description: 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.
date published: 2009-03-09
publisher: The New York Times
about: Matthew Scanlan

RS Investments Names Chief Executive Officer
type: NewsArticle
description: 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.
date published: 2012-01-06
publisher: Financial Advisor
about: Matthew Scanlan

MOVES-Renaissance, Fidelity, CastleOak, Oppenheimer
type: NewsArticle
description: 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.
date published: 2009-03-09
publisher: Reuters
about: Matthew Scanlan

Renaissance taps Barclays Global Investors for chief executive
type: NewsArticle
date published: 2009-03-04
about: Matthew Scanlan

Renaissance may lift veil - a bit
type: NewsArticle
description: 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.
date published: 2009-09-13
publisher: Investment News
about: Matthew Scanlan

Guardian Life Insurance 2012 Annual Report
type: NewsArticle
date published: 2012-12-31
publisher: RS Investment Management Co. LLC
about: Matthew Scanlan

RS Investments Announces Formation of New Investment Adviser, SailingStone Capital Partners LLC
type: NewsArticle
description: '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.
date published: 2014-01-07
publisher: RS Investments
about: Matthew Scanlan

RS Investments Strengthens Value Team with Addition of Key Energy, Technology Analysts
type: NewsArticle
description: '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.'
date published: 2014-04-30
publisher: PR Newswire
about: Matthew Scanlan

13G SEC Filing for The Guardian Life Insurance Company of America
type: NewsArticle
date published: 2011-12-31
publisher: SEC
about: Matthew Scanlan

Charles J. Yang, CFA, Elected Chair of CFA Institute Board of Governors
type: NewsArticle
date published: 2013-07-17
publisher: CFA Institute
about: Matthew Scanlan

Renaissance Institutional Management Taps Scanlan as New Chief
type: NewsArticle
description: Matthew H. Scanlan has joined Renaissance Technologies LLC as Renaissance Institutional Management LLC's President and CEO, the New York firm announced.
date published: 2009-03-05
publisher: Plan Sponsor
about: Matthew Scanlan

Matt Scanlan Becomes CEO of RS Investments
type: NewsArticle
date published: 2012-01-06
publisher: L'Agefi
about: Matthew Scanlan

Home
type: ListItem
position: 1
item: https://matthewscanlan.com

About
type: ListItem
position: 2
item: https://matthewscanlan.com/about

Matthew Scanlan
type: WebSite
description: Matthew Scanlan is an investment executive with 40+ years of CEO-level experience across indexing, quantitative, active, and private equity strategies.
language: en
publisher: Matthew Scanlan

Foreign Diversification Questioned: Data Show Benefits Make It Worthwhile
type: Article
is part of: Matthew Scanlan
date published: 1999-05-17
publisher: Pensions & Investments
author: Matthew Scanlan

Indexing in the 21st Century
type: Article
is part of: Matthew Scanlan
date published: 2002
publisher: org-investment-insights-barclays-global-investors
author: Matthew Scanlan

Five Myths About Fees
type: ScholarlyArticle
description: 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.
abstract: 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.
date published: 2006
is part of: The Journal of Portfolio Management, Vol. 32, No. 3, pp. 56-64
author: Matthew Scanlan
author: Ronald N. Kahn
author: Matthew H. Scanlan
author: Laurence B. Siegel
keywords: fees, hedge funds, alpha and beta, investment management

The Journal of Portfolio Management, Vol. 32, No. 3, pp. 56-64
type: Periodical

Matthew H. Scanlan
type: Person

The Future Shock of Retirement
type: ScholarlyArticle
description: 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.
abstract: 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.
date published: 2008-04-29
is part of: Barclays Global Investors Research Study (not a journal publication)
author: Matthew Scanlan
author: Matthew H. Scanlan
author: Jonathan Cohen
author: Matthew O'Hara
keywords: retirement security, Social Security, home equity, defined contribution plans

Barclays Global Investors Research Study (not a journal publication)
type: Periodical

Jonathan Cohen
type: Person

Matthew O'Hara
type: Person

The Retirement Benefits Crisis
type: ScholarlyArticle
description: 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.
abstract: 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.
date published: 2006
is part of: The Journal of Investing
author: Matthew Scanlan
author: Matthew H. Scanlan
author: Carter M. Lyons
keywords: long-term investing, retirement investing, retirement, pension funds

The Journal of Investing
type: Periodical

Carter M. Lyons
type: Person

Five Principles to Hold Onto (Even When Your Boss Says the Opposite)
type: ScholarlyArticle
description: 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.
abstract: 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.
date published: 2009
is part of: The Journal of Portfolio Management
author: Matthew Scanlan
author: Laurence B. Siegel
author: M. Barton Waring
author: Matthew H. Scanlan
keywords: portfolio theory, exchange-traded funds and applications

The Journal of Portfolio Management
type: Periodical

M. Barton Waring
type: Person

Is Patience a Virtue? The Unsentimental Case for the Long View in Evaluating Returns
type: ScholarlyArticle
description: 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.
abstract: 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.
date published: 2010
is part of: The Journal of Portfolio Management
author: Matthew Scanlan
author: David L. Donoho
author: Robert A. Crenian
author: Matthew H. Scanlan
keywords: manager selection, simulations, portfolio management, multi-asset allocation

David L. Donoho
type: Person

Robert A. Crenian
type: Person

No Fear of Commitment: The Role of High-Conviction Active Management
type: ScholarlyArticle
description: 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.
abstract: 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.
date published: 2014
is part of: The Journal of Investing
author: Matthew Scanlan
author: Laurence B. Siegel
author: Matthew H. Scanlan
keywords: fundamental equity analysis, portfolio construction

Practical Applications of No Fear of Commitment: The Role of High-Conviction Active Management
type: ScholarlyArticle
description: 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 .
abstract: 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 .
date published: 2014
is part of: Portfolio Management Research Snapshots
author: Matthew Scanlan
author: Larry Siegel
author: Matt Scanlan

Portfolio Management Research Snapshots
type: Periodical

Larry Siegel
type: Person

Matt Scanlan
type: Person

Managing Investment Portfolios: A Dynamic Process
type: Book
is part of: Matthew Scanlan
alternative headline: Chapter 2: Managing Individual Investor Portfolios
description: 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.
abstract: 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.
date published: 2007-03-07
number of pages: 960
language: English
book edition: 3rd
isbn: 978-0470080146
publisher: org-wiley
author: Matthew Scanlan
author: Matthew H. Scanlan

Active Index Investing: Maximizing Portfolio Performance and Minimizing Risk Through Global Index Strategies
type: Book
is part of: Matthew Scanlan
alternative headline: Chapter 3 The Ever-Evolving Uses of Indexing: Why the Active versus Index Debate Is Over
description: 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
date published: 2004-01-01
number of pages: 720
language: English
book edition: 1
isbn: 978-0471257073
publisher: org-wiley-finance
author: Matthew Scanlan
author: Matthew H. Scanlan

Testimony on H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act of 2007
type: Event
description: 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.
start date: 2007-10-04
about: 401(k) fee disclosure and retirement security; bringing defined benefit investment disciplines to defined contribution plans
audience: event-testimony-on-hr-3185-the-401k-fair-disclosure-for-ret-80c612-audience
location: Room 2175, Rayburn House Office Building
performer: PerformanceRole
  performer: Matthew Scanlan
  performer: Bradford P. Campbell
  performer: David Certner
  performer: Tommy Thomasson
  performer: Lew Minsky
  performer: Jon C. Chambers
  role name: Witness
work performed: PresentationDigitalDocument

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type: Thing

event-testimony-on-hr-3185-the-401k-fair-disclosure-for-ret-80c612-audience
type: Audience
audience type: U.S. House of Representatives committee

Room 2175, Rayburn House Office Building
type: Place
address: event-testimony-on-hr-3185-the-401k-fair-disclosure-for-ret-80c612-location-address

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type: PostalAddress
address locality: Washington
address region: DC
address country: United States

Bradford P. Campbell
type: Person

David Certner
type: Person

Tommy Thomasson
type: Person

Lew Minsky
type: Person

Jon C. Chambers
type: Person

BGI SponsorMatch / DC Annuity Product Launch
type: Event
description: 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.
start date: 2007
about: Launch of BGI SponsorMatch, a defined contribution annuity product; 14 patent claims filed on the process
audience: event-bgi-sponsormatch-dc-annuity-product-launch-audience
location: event-bgi-sponsormatch-dc-annuity-product-launch-location
performer: PerformanceRole
  performer: Matthew Scanlan
  performer: Kristi Mitchem
  role name: Spokesperson

Launch of BGI SponsorMatch, a defined contribution annuity product; 14 patent claims filed on the process
type: Thing

event-bgi-sponsormatch-dc-annuity-product-launch-audience
type: Audience
audience type: Press / industry

event-bgi-sponsormatch-dc-annuity-product-launch-location-address
type: PostalAddress
address locality: New York City
address region: New York
address country: United States

Release of 'The Future Shock of Retirement' Study
type: Event
description: 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.
start date: 2008-04-29
about: Retirement security research; risks to middle-class retirement wealth from Social Security and home equity assumptions
audience: event-release-of-the-future-shock-of-retirement-study-audience
location: event-release-of-the-future-shock-of-retirement-study-location
performer: PerformanceRole
  performer: Matthew Scanlan
  performer: Jonathan Cohen
  performer: Matthew O'Hara
  role name: Co-author / Spokesperson

Retirement security research; risks to middle-class retirement wealth from Social Security and home equity assumptions
type: Thing

event-release-of-the-future-shock-of-retirement-study-audience
type: Audience
audience type: Press / industry

event-release-of-the-future-shock-of-retirement-study-location-address
type: PostalAddress
address country: United States

DOL ERISA Advisory Council Testimony on Approaches to Retirement Security
type: Event
description: 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.'
start date: 2009-07-21
about: Defined benefit and defined contribution plan design; retirement security; short-term DB funding relief
audience: event-dol-erisa-advisory-council-testimony-on-approaches-to-ca2883-audience
location: U.S. Department of Labor
performer: PerformanceRole
  performer: Matthew Scanlan
  performer: Carter Lyons
  role name: Witness (CEO and President, Renaissance Institutional Management)

Defined benefit and defined contribution plan design; retirement security; short-term DB funding relief
type: Thing

event-dol-erisa-advisory-council-testimony-on-approaches-to-ca2883-audience
type: Audience
audience type: U.S. Department of Labor advisory council

U.S. Department of Labor
type: Place
address: event-dol-erisa-advisory-council-testimony-on-approaches-to-ca2883-location-address

event-dol-erisa-advisory-council-testimony-on-approaches-to-ca2883-location-address
type: PostalAddress
address locality: Washington
address region: DC
address country: United States

Implications of the Retirement Crisis for Asset Managers
type: Event
start date: 2012-09-01
about: Kellogg School of Management Asset Management Practicum Spring 2011 to Winter 2012
location: Kellogg School of Management, Northwestern University
performer: PerformanceRole
  performer: Matthew Scanlan
  role name: Guest Lecturer

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type: Thing

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type: Place

Trends in Private Equity and Institutional Investing
type: Event
start date: 2021-09-01
about: Kellogg School of Management Asset Management Practicum Spring 2021 to Winter 2022
location: Kellogg School of Management, Northwestern University
performer: PerformanceRole
  performer: Matthew Scanlan
  role name: Guest Lecturer

Kellogg School of Management Asset Management Practicum Spring 2021 to Winter 2022
type: Thing

Kellogg School of Management, Northwestern University
type: Place

Pensions & Investments
type: NewsMediaOrganization

Institutional Investor
type: NewsMediaOrganization

InvestmentNews
type: NewsMediaOrganization

PlanSponsor
type: NewsMediaOrganization

Financial Planning
type: NewsMediaOrganization

Adams Street Partners
type: NewsMediaOrganization

Private Equity Wire
type: NewsMediaOrganization

PE Hub
type: NewsMediaOrganization

Kellogg World Alumni Magazine
type: NewsMediaOrganization

The New York Times
type: NewsMediaOrganization

Financial Advisor
type: NewsMediaOrganization

Reuters
type: NewsMediaOrganization

Investment News
type: NewsMediaOrganization

RS Investment Management Co. LLC
type: NewsMediaOrganization

RS Investments
type: NewsMediaOrganization

PR Newswire
type: NewsMediaOrganization

SEC
type: NewsMediaOrganization

Plan Sponsor
type: NewsMediaOrganization

L'Agefi
type: NewsMediaOrganization

401k Fees Hearing: Matthew Scanlan
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embed url: https://www.youtube.com/embed/7gAhOI1Tg1k
description: 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.
duration: 05:48
upload date: 2007-10-04
additional type: YouTube
creator: Matthew Scanlan