Implications of the Retirement Crisis for Asset Managers

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Matthew Scanlan served as a guest lecturer in the Kellogg School of Management’s Asset Management Practicum during the 2011–2012 academic year, speaking on the implications of the retirement crisis for institutional asset managers. The Practicum is a selective graduate program at Kellogg that exposes students to senior investment professionals across asset management, private equity, and institutional investing.

Drawing on his research on retirement readiness — including the BGI “Future Shock of Retirement” study and his two appearances before federal bodies on retirement policy — Scanlan addressed how the structural shift from defined-benefit to defined-contribution plans was reshaping the mandates, product strategies, and competitive dynamics of institutional asset managers. The lecture reflected themes central to his work at BGI and Renaissance Institutional Management, and his broader view that the retirement system’s move to individual account structures had transferred significant risk to participants without a commensurate shift in the investment support available to them.