Reinvigorating The Investment Committee: Introducing The Investment Committee Operating Manual
The investment committee originated not out of the investment world but out of the world of board governance. The trouble is that the investment committee is fundamentally unlike other board committees. But successful service on an investment committee requires knowledge so specialized and experience so extensive that it will be a rare board that can produce even one or two such people, much less an entire committee-full. This is a point that is usually ill-understood by boards and board chairs, who generally appoint to the investment committee anyone with a generalized background in "Finance."