Max Dulberger
Director, Corporate Governance and Engagement
Max is the Director of Corporate Governance and Engagement in Segal Marco Advisors’ Chicago office. He has extensive experience in shareholder advocacy and specializes in engaging companies on behalf of investors. Max also has deep experience in the public sector, with over 15 years working for government institutions in Illinois and Wisconsin.
Prior to joining Segal Marco Advisors, Max was Director of Corporate Governance and Sustainable Investment at the Office of the Illinois State Treasurer, where he developed the office’s nationally recognized sustainable investing program and headed the division responsible for corporate engagement, proxy voting, policy advocacy on sustainable investing topics and manager sustainability evaluations. He served as a member of the Illinois Treasurer’s Investment Policy Committee, Financial Analysis Subcommittee and Corporate Governance and Sustainable Investment Subcommittee. Max also served as Co-Chair of the Council of Institutional Investors’ Shareholder Advocacy Committee from 2020 to 2022.
Prior to the Illinois Treasury, Max worked as a Senior Policy Advisor at the Illinois Department of Veterans Affairs, Director of Legislative Affairs at the Wisconsin Department of Veterans Affairs and Chief of Staff to a former Wisconsin State Legislator.
Max received his BA in Communication Studies from the University of Iowa and his MPA from the University of Illinois at Chicago.
Max's recent presentations and publications include:
- “2025 Corporate Governance Report,” Segal Marco Advisors, February 2026
- “2025 Key Proxy Votes,” presentation at the National Conference of Public Employee Retirement Systems, April 30, 2025
- “Corporate Engagement 101,” presentation at the Chicago Policy Forum of For The Long Term, September 25, 2024
- “Shareholder Engagement and the Energy Transition: Insights From Asset Owners,” panel discussion at Transition-IQ's Climate Week NYC Forum, September 23, 2024
- “Investment Stewardship: Corporate Engagement and Proxy Voting Primer,” Corporate Governance Playbook: A Primer on Best Practices, Innovation and Fiduciary Duty, For The Long Term, May 10, 2024
- “C-Suite Perspective: Why ESG Matters,” panel discussion at the KPMG ESG Transformation Bootcamp, March 13, 2024
- “Investor Perspectives on the Decarbonization of the Natural Gas Industry,” presentation at the Ceres Natural Gas Decarbonization Roundtable, October 25, 2023
- “Shared Value and Social Impact: Stakeholder Perspectives on the Role of Health and Well-Being in ESG and Other Sustainability Frameworks,” panel discussion at the HERO Forum, September 27, 2023
- “Case Study: Illinois Treasury’s Diverse Investment Managers Program,” panel discussion at For The Long Term conference, November 14, 2022
- “New Research on Engagement to Mitigate Climate Risks,” panel discussion at Council of Institutional Investors conference, September 23, 2022
Read insights from Max
-
May 15, 2023
Pursuing a Just Transition on the Path to Net Zero
Governments and businesses everywhere are undergoing a massive transition to a world with reduced reliance on fossil fuels and greenhouse gas emission
Topics covered: Investment
Contact Max
Leadership
Max Dulberger
Director, Corporate Governance and Engagement
Max is the Director of Corporate Governance and Engagement in Segal Marco Advisors’ Chicago office. He has extensive experience in shareholder advocacy and specializes in engaging companies on behalf of investors. Max also has deep experience in the public sector, with over 15 years working for government institutions in Illinois and Wisconsin.
Prior to joining Segal Marco Advisors, Max was Director of Corporate Governance and Sustainable Investment at the Office of the Illinois State Treasurer, where he developed the office’s nationally recognized sustainable investing program and headed the division responsible for corporate engagement, proxy voting, policy advocacy on sustainable investing topics and manager sustainability evaluations. He served as a member of the Illinois Treasurer’s Investment Policy Committee, Financial Analysis Subcommittee and Corporate Governance and Sustainable Investment Subcommittee. Max also served as Co-Chair of the Council of Institutional Investors’ Shareholder Advocacy Committee from 2020 to 2022.
Prior to the Illinois Treasury, Max worked as a Senior Policy Advisor at the Illinois Department of Veterans Affairs, Director of Legislative Affairs at the Wisconsin Department of Veterans Affairs and Chief of Staff to a former Wisconsin State Legislator.
Max received his BA in Communication Studies from the University of Iowa and his MPA from the University of Illinois at Chicago.
Max's recent presentations and publications include:
- “2025 Corporate Governance Report,” Segal Marco Advisors, February 2026
- “2025 Key Proxy Votes,” presentation at the National Conference of Public Employee Retirement Systems, April 30, 2025
- “Corporate Engagement 101,” presentation at the Chicago Policy Forum of For The Long Term, September 25, 2024
- “Shareholder Engagement and the Energy Transition: Insights From Asset Owners,” panel discussion at Transition-IQ's Climate Week NYC Forum, September 23, 2024
- “Investment Stewardship: Corporate Engagement and Proxy Voting Primer,” Corporate Governance Playbook: A Primer on Best Practices, Innovation and Fiduciary Duty, For The Long Term, May 10, 2024
- “C-Suite Perspective: Why ESG Matters,” panel discussion at the KPMG ESG Transformation Bootcamp, March 13, 2024
- “Investor Perspectives on the Decarbonization of the Natural Gas Industry,” presentation at the Ceres Natural Gas Decarbonization Roundtable, October 25, 2023
- “Shared Value and Social Impact: Stakeholder Perspectives on the Role of Health and Well-Being in ESG and Other Sustainability Frameworks,” panel discussion at the HERO Forum, September 27, 2023
- “Case Study: Illinois Treasury’s Diverse Investment Managers Program,” panel discussion at For The Long Term conference, November 14, 2022
- “New Research on Engagement to Mitigate Climate Risks,” panel discussion at Council of Institutional Investors conference, September 23, 2022
Read insights from Max
-
May 15, 2023
Pursuing a Just Transition on the Path to Net Zero
Governments and businesses everywhere are undergoing a massive transition to a world with reduced reliance on fossil fuels and greenhouse gas emission
Topics covered: Investment
Contact Max
Leadership
Max Dulberger
Director, Corporate Governance and Engagement
Contact Max
Max is the Director of Corporate Governance and Engagement in Segal Marco Advisors’ Chicago office. He has extensive experience in shareholder advocacy and specializes in engaging companies on behalf of investors. Max also has deep experience in the public sector, with over 15 years working for government institutions in Illinois and Wisconsin.
Prior to joining Segal Marco Advisors, Max was Director of Corporate Governance and Sustainable Investment at the Office of the Illinois State Treasurer, where he developed the office’s nationally recognized sustainable investing program and headed the division responsible for corporate engagement, proxy voting, policy advocacy on sustainable investing topics and manager sustainability evaluations. He served as a member of the Illinois Treasurer’s Investment Policy Committee, Financial Analysis Subcommittee and Corporate Governance and Sustainable Investment Subcommittee. Max also served as Co-Chair of the Council of Institutional Investors’ Shareholder Advocacy Committee from 2020 to 2022.
Prior to the Illinois Treasury, Max worked as a Senior Policy Advisor at the Illinois Department of Veterans Affairs, Director of Legislative Affairs at the Wisconsin Department of Veterans Affairs and Chief of Staff to a former Wisconsin State Legislator.
Max received his BA in Communication Studies from the University of Iowa and his MPA from the University of Illinois at Chicago.
Max's recent presentations and publications include:
- “2025 Corporate Governance Report,” Segal Marco Advisors, February 2026
- “2025 Key Proxy Votes,” presentation at the National Conference of Public Employee Retirement Systems, April 30, 2025
- “Corporate Engagement 101,” presentation at the Chicago Policy Forum of For The Long Term, September 25, 2024
- “Shareholder Engagement and the Energy Transition: Insights From Asset Owners,” panel discussion at Transition-IQ's Climate Week NYC Forum, September 23, 2024
- “Investment Stewardship: Corporate Engagement and Proxy Voting Primer,” Corporate Governance Playbook: A Primer on Best Practices, Innovation and Fiduciary Duty, For The Long Term, May 10, 2024
- “C-Suite Perspective: Why ESG Matters,” panel discussion at the KPMG ESG Transformation Bootcamp, March 13, 2024
- “Investor Perspectives on the Decarbonization of the Natural Gas Industry,” presentation at the Ceres Natural Gas Decarbonization Roundtable, October 25, 2023
- “Shared Value and Social Impact: Stakeholder Perspectives on the Role of Health and Well-Being in ESG and Other Sustainability Frameworks,” panel discussion at the HERO Forum, September 27, 2023
- “Case Study: Illinois Treasury’s Diverse Investment Managers Program,” panel discussion at For The Long Term conference, November 14, 2022
- “New Research on Engagement to Mitigate Climate Risks,” panel discussion at Council of Institutional Investors conference, September 23, 2022
Read insights from Max
-
May 15, 2023
Pursuing a Just Transition on the Path to Net Zero
Governments and businesses everywhere are undergoing a massive transition to a world with reduced reliance on fossil fuels and greenhouse gas emission
Topics covered: Investment
Leadership
Max Dulberger
Director, Corporate Governance and Engagement
Contact Max
Max is the Director of Corporate Governance and Engagement in Segal Marco Advisors’ Chicago office. He has extensive experience in shareholder advocacy and specializes in engaging companies on behalf of investors. Max also has deep experience in the public sector, with over 15 years working for government institutions in Illinois and Wisconsin.
Prior to joining Segal Marco Advisors, Max was Director of Corporate Governance and Sustainable Investment at the Office of the Illinois State Treasurer, where he developed the office’s nationally recognized sustainable investing program and headed the division responsible for corporate engagement, proxy voting, policy advocacy on sustainable investing topics and manager sustainability evaluations. He served as a member of the Illinois Treasurer’s Investment Policy Committee, Financial Analysis Subcommittee and Corporate Governance and Sustainable Investment Subcommittee. Max also served as Co-Chair of the Council of Institutional Investors’ Shareholder Advocacy Committee from 2020 to 2022.
Prior to the Illinois Treasury, Max worked as a Senior Policy Advisor at the Illinois Department of Veterans Affairs, Director of Legislative Affairs at the Wisconsin Department of Veterans Affairs and Chief of Staff to a former Wisconsin State Legislator.
Max received his BA in Communication Studies from the University of Iowa and his MPA from the University of Illinois at Chicago.
Max's recent presentations and publications include:
- “2025 Corporate Governance Report,” Segal Marco Advisors, February 2026
- “2025 Key Proxy Votes,” presentation at the National Conference of Public Employee Retirement Systems, April 30, 2025
- “Corporate Engagement 101,” presentation at the Chicago Policy Forum of For The Long Term, September 25, 2024
- “Shareholder Engagement and the Energy Transition: Insights From Asset Owners,” panel discussion at Transition-IQ's Climate Week NYC Forum, September 23, 2024
- “Investment Stewardship: Corporate Engagement and Proxy Voting Primer,” Corporate Governance Playbook: A Primer on Best Practices, Innovation and Fiduciary Duty, For The Long Term, May 10, 2024
- “C-Suite Perspective: Why ESG Matters,” panel discussion at the KPMG ESG Transformation Bootcamp, March 13, 2024
- “Investor Perspectives on the Decarbonization of the Natural Gas Industry,” presentation at the Ceres Natural Gas Decarbonization Roundtable, October 25, 2023
- “Shared Value and Social Impact: Stakeholder Perspectives on the Role of Health and Well-Being in ESG and Other Sustainability Frameworks,” panel discussion at the HERO Forum, September 27, 2023
- “Case Study: Illinois Treasury’s Diverse Investment Managers Program,” panel discussion at For The Long Term conference, November 14, 2022
- “New Research on Engagement to Mitigate Climate Risks,” panel discussion at Council of Institutional Investors conference, September 23, 2022
Read insights from Max
-
May 15, 2023
Pursuing a Just Transition on the Path to Net Zero
Governments and businesses everywhere are undergoing a massive transition to a world with reduced reliance on fossil fuels and greenhouse gas emission
Topics covered: Investment
Leadership
Max Dulberger
Director, Corporate Governance and Engagement
Contact Max
Max is the Director of Corporate Governance and Engagement in Segal Marco Advisors’ Chicago office. He has extensive experience in shareholder advocacy and specializes in engaging companies on behalf of investors. Max also has deep experience in the public sector, with over 15 years working for government institutions in Illinois and Wisconsin.
Prior to joining Segal Marco Advisors, Max was Director of Corporate Governance and Sustainable Investment at the Office of the Illinois State Treasurer, where he developed the office’s nationally recognized sustainable investing program and headed the division responsible for corporate engagement, proxy voting, policy advocacy on sustainable investing topics and manager sustainability evaluations. He served as a member of the Illinois Treasurer’s Investment Policy Committee, Financial Analysis Subcommittee and Corporate Governance and Sustainable Investment Subcommittee. Max also served as Co-Chair of the Council of Institutional Investors’ Shareholder Advocacy Committee from 2020 to 2022.
Prior to the Illinois Treasury, Max worked as a Senior Policy Advisor at the Illinois Department of Veterans Affairs, Director of Legislative Affairs at the Wisconsin Department of Veterans Affairs and Chief of Staff to a former Wisconsin State Legislator.
Max received his BA in Communication Studies from the University of Iowa and his MPA from the University of Illinois at Chicago.
Max's recent presentations and publications include:
- “2025 Corporate Governance Report,” Segal Marco Advisors, February 2026
- “2025 Key Proxy Votes,” presentation at the National Conference of Public Employee Retirement Systems, April 30, 2025
- “Corporate Engagement 101,” presentation at the Chicago Policy Forum of For The Long Term, September 25, 2024
- “Shareholder Engagement and the Energy Transition: Insights From Asset Owners,” panel discussion at Transition-IQ's Climate Week NYC Forum, September 23, 2024
- “Investment Stewardship: Corporate Engagement and Proxy Voting Primer,” Corporate Governance Playbook: A Primer on Best Practices, Innovation and Fiduciary Duty, For The Long Term, May 10, 2024
- “C-Suite Perspective: Why ESG Matters,” panel discussion at the KPMG ESG Transformation Bootcamp, March 13, 2024
- “Investor Perspectives on the Decarbonization of the Natural Gas Industry,” presentation at the Ceres Natural Gas Decarbonization Roundtable, October 25, 2023
- “Shared Value and Social Impact: Stakeholder Perspectives on the Role of Health and Well-Being in ESG and Other Sustainability Frameworks,” panel discussion at the HERO Forum, September 27, 2023
- “Case Study: Illinois Treasury’s Diverse Investment Managers Program,” panel discussion at For The Long Term conference, November 14, 2022
- “New Research on Engagement to Mitigate Climate Risks,” panel discussion at Council of Institutional Investors conference, September 23, 2022
Read insights from Max
-
May 15, 2023
Pursuing a Just Transition on the Path to Net Zero
Governments and businesses everywhere are undergoing a massive transition to a world with reduced reliance on fossil fuels and greenhouse gas emission
Topics covered: Investment
