Leading in Tough Times: Michael Underhill, Capital Innovations 

Throughout the month of August, Connect Money is running a series titled “Leading in Tough Times.” We’ve asked leaders around the U.S. and across the financial services spectrum to share their wisdom and discuss lessons learned. In this installment, you’ll hear from Michael Underhill, Co-Founder, CIO and CEO of Capital Innovations. 

Question: What’s the most important lesson you’ve learned about leading in challenging environments? 

Michael Underhill: I was meeting with Steve Schwarzman at Blackstone regarding an investment in their Infrastructure Fund in 2009 for a large sovereign wealth fund reviewing extensive risk management programs that helped Blackstone through difficult times, and after the meeting he said to me, “I have a saying: There are no brave old people in finance. Because if you’re brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you’re still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments.” 

Question: What’s the most common mistake leaders make in an inhospitable market? 

Michael Underhill: Lack of innovation to adjust to unmerciful competition. “Innovation: The best way to predict the future is to create it” Molière 

Question: What’s the most valuable leadership advice you’ve ever been given? 

Michael Underhill: Be the change that you wish to see in the world. Strength does not come from winning. 

Question: What decision as a leader do you wish you could have a mulligan on and why? 

Michael Underhill: Not one! 

Question: What’s the best decision you’ve ever made as a business leader?  

Michael Underhill: Hiring athletes. Athletes lead highly structured lives with organizational skills, dedication and perseverance required to excel as an athlete. They are mirrored amongst the most successful business professionals. Hence, it’s no surprise that organizations have popped up left and right to connect athletes (current or former) with businesses.