The Trustee Governance Guide

“This book provides a thorough, accessible, and practical guide for trustees and staff that have the honor and the responsibility of stewarding long-term capital for a non-profit institution or pension.  The authors Christopher Merker and Sarah Peck advance the investment governance field by making an informed and strong case for understanding ESG as a risk management issue and by introducing a Fiduciary Effectiveness Quotient assessment tool. Investment stewards that want to understand and follow best practices will benefit from reading this book.” (Cathleen M. Rittereiser, Executive Director ofCommonfund Institute and co-author of Foundation and Endowment Investing) 

“Finally, a book that demonstrates empirically what many practitioners have long believed to be true: board governance can significantly enhance investment returns.  The authors also outline the key attributes of a superior governance structure. This book should be required reading for all trustees and trust executives.” (James Wilbanks, Executive Director, Mendocino County Employees Retirement Association)

“Any book that starts with a first imperative to be well governed has my attention. In this book, Chris and Sarah have introduced important findings on the value of good governance to investment success. At the same time, they have crafted a reader-friendly handbook for fiduciaries covering important topics such as human behavior and the need to integrate environmental, social, and governance factors into portfolio thinking. Trustees will find some helpful pointers here.” (Tim Mitchell, Global Head of Governance Consulting, Willis Towers Watson)

“Chris and Sarah’s work provides much-needed empirical evidence of the relationship between governance factors and financial success. More importantly, they lay out a practical framework to help fiduciaries design, evaluate, and maintain a successful governance model. This book is a worthwhile read for anyone serving in a fiduciary capacity.” (Gregory C. Allen, CEO and Chief Research Officer, Callan LLC)

“With this book, Merker and Peck put forth a highly useful guide for both board members and those with an interest in coaching boards to achieve better financial outcomes for their organizations. Their thoughtful and focused work lays out practical approaches for avoiding the myriad impediments, which can prevent successful governance and institutional investing. Their prescriptions are concise, interesting and actionable—this should be a must read for investment committee heads nationwide. Bravo.” (Sterling Shea, Global Head of Wealth & Asset Management, Dow Jones)

“Everywhere we look, fiduciary duties, norms, standards, and processes continue to receive heightened scrutiny in the wake of the last financial crisis and the worldwide growth of socially responsible investing strategies. This book offers a timely, understandable, enlightening, and critically important discussion of the importance of fiduciaries to investment performance and the role of governance in driving fiduciary quality complete with useful tips and tactics for practitioners in finance.” (John Taft, Vice Chairman, Baird)

“This book puts the ‘G’ in Environmental, Social and Governance factors to impact investing. ESG is not a trend, it is a mega trend— and for good reason. As Merker and Peck prove, an ESG approach to management and governance adds value to sponsors, participants and to society. It is incumbent upon fiduciaries to understand the implications and process behind this win/win/win approach to portfolio management. Thought provoking and full of compelling data, The Trustee Governance Guide is an approachable and actionable book for trustees and fiduciaries of any skill level to understand the potential benefits of sustainable investing and governance.” (Tom Anderson, Former Executive Director of Morgan Stanley Wealth Management; Author of The Value of Debt series; Executive Chairman of Supernova Companies)