Leadership is primarily a fiduciary action. A fiduciary is charged with giving priority to the interests of others over self in a way that engenders and protects trust. Frequently the idea is associated with fiscal affairs and legal perspectives. Surely these are components of fiduciary action - but only two. Fiduciaries of universities - trustees, regents, or overseers - are responsible for complex, dynamic, interacting interests, and must constantly be wary of potential errors of commission and omission.