Dr Iain Clacher



PhD (Finance), Leeds University Business School, Leeds, UK
BA (Hons), Finance, University of Strathclyde


Iain Clacher is an Associate Professor in Accounting and Finance at Leeds University Business School, The University of Leeds. He is an expert on pensions and retirement saving and his work covers retirement decision making, pension fund investment, infrastructure investing, sustainable pension systems, trustee governance, and fund management costs and fees. Iain is the co-chair of the cross-practice working party on behavioural finance for actuaries at the Institute and Faculty of Actuaries. He is the expert advisor to the European Economic and Social Committee on Pan European Pension Products, and he is a member of the recently formed Institutional Disclosure Working Group of the UK Financial Conduct Authority.  

He is regularly invited to speak at a wide range of leading forums, as well as presenting at national and international conferences, and he is a regular commentator in the media both on his own work and across all areas of business and economics.

Iain is one of the co-authors of the European adaptation of Fundamentals of Corporate Finance, with the third edition being released in 2017. Iain has also written book chapters on gold investment, agency theory and incomplete contracting, pension funds and retirement saving, and applications for regime switching in financial economics.

PA - Hayley Atkins

0113 3434454 

Iains research and expertise has had a significant impact across a number of fields and has been used to advise a range of businesses, policy makers, and organisations including, The CERN Pension Fund, The City of London Corporation, The Work Foundation, and The Pensions and Lifetime Savings Association.
Current projects include, an ongoing collaboration with Aon examining trustee decision making, which brings together Iains expertise in pensions and behavioural and experts in judgement and decision making; work for the Office for National Statistics looking at discounting pensions for National Accounting purposes as part of a team examining the discounting of governmental liabilities; he is the lead researcher on a project with the Association of Member Nominated Trustees, the UK Sustainable Finance Initiative, and the UN Principles for Responsible Investment examining voting in pooled equity funds and he was the expert advisor on the qualitative analysis of the Financial Conduct Authoritys Retirement Outcomes Review, which reported its interim results earlier this year.

As well as his track-record of impact, Iain is interested in a wide range of areas in accounting, finance, and economics. He has published papers in internationally ranked journals covering, institutional economics, financial accounting, ethics, pension management, fund performance, and sovereign wealth. Current research includes work examining textual tone in the lobbying of the International Accounting.

Research and Teaching Grants

  1. 2017 200,000 The Actuarial Profession, Understanding trustee investment decision making in DC funds (with P. Ayton).
  2. 2017 20,000 Institute of Chartered Accountants Scotland, understanding discount rates in financial accounts (with M. Freeman and C. Keating).
  3. 2017 7000 The Actuarial Profession, Understanding the economics of discounting in pensions and insurance.
  4. 2016 3000 Seedcorn fund project on All-star analysts, (with A. Duboise de Ricquebourg).
  5. 2011 11,000 The Actuarial Profession, project to analyse pension plan solvency and extreme market movements, (with David Hillier and Mark Freeman).
  6. 2010 27,000 Rotman ICPM, Toronto, project to analyse pension plan solvency and extreme market movements, (with D. Hillier and M. Freeman).
  7. 2010 7,000 Academic Development Fund, project to develop two modules on insurance statistics.
  8. 2010 10,000 Institute for Small Business and Entrepreneurship, project to analyse the impact of Regional Development Agencies on small firm formation and survival.
  9. 2009 2,500 Seedcorn Funded project on corporate governance and ownership structures in small to medium enterprises, (with G. Veronesi).
  10. 2009 5000 Teaching Quality Enhancement Fund, for the development of an online SAS programming for business research course.
  11. 2008 1895 Seedcorn fund project on European bank deposit insurance, (with J. Hagendorff).
  12. 2008 10000 Thai Government Pension Fund (TGPF) project on international diversification for the National Pension Fund, (with, D. Hillier and S. Lhaopadchan).

Since joining Leeds University Business School, Iain has taught on and developed modules across undergraduate, postgraduate, MBA and Exec-MBA. Modules taught include corporate governance, taxation, foundations of accounting, introduction to management accounting, financial accounting, research methods, financial analysis, corporate finance, and risk and insurance. Iain has also developed a number of successful executive education offerings in corporate finance and financial strategy, which have been delivered to companies both in-house and as part of national and international university programmes.

As of June 2013 Iain has been the co-director of the Centre for Advanced Studies in Finance, having previously been the deputy director from 2009. In this role, he has led the development of the Accounting and Finance PhD programme at Leeds and has been instrumental in the building of a highly successful doctoral programme that has alumni in senior positions across industry, academia, and government.