FCLT Global Director Matthew Leatherman recently joined the team from the North Carolina Department of State Treasurer where he served as Policy Director. Matthew discusses his reasons for joining FCLT Global and his mission to put top-down economic logic to the test...
Q: Why did you decide to join FCLT Global, and what will you be working on?
Working with FCLT Global was an easy decision for me. I had the opportunity, as part of the asset owner community, to watch the initiative gather momentum and then form into an organization. Throughout that time, I was very impressed with the work and found it to be immediately useful. My first project as part of the team will include researching adjustments that owners and managers can make to their investment mandates in order to encourage longer-term behavior and surveying global owners about the ways in which they practice long-term investing.
Q: Tell us a little bit about you and your previous work experience.
I came to FCLT Global from North Carolina's Department of State Treasurer, the asset owner backing the retirement systems for teachers, first responders, and civil servants in the state. I was part of an effort by the Department to establish a policy on long-term stewardship, including updating investment beliefs, incorporating long-term considerations into investment decision-making, and providing structure for engaging with portfolio companies. The Department also functions as issuer of state and local government debt in North Carolina, and relating these long-term concepts to that work was important as well.
Q: What are you looking forward to most about working at FCLT Global?
* Our members' commitment to action really energizes me. The body of FCLT Global members is extraordinary, and I know we have a special opportunity both to introduce new ideas into the value chain and to support our members as leaders in this innovation.
Q: What are you hoping to achieve in your new role?
One of my biggest goals is to put top-down economic logic to the test and see if it really bears out. My belief is that intuitive and logical assumptions can be a significant root of short-term behavior when they misrepresent market behavior. Behavioral assumptions underlying agency theory and risk calculations particularly interest me right now.
Learn more about the FCLT Global team here.