David S. Chao serves as the Vice President and Chief Investment Officer of Phipps Houses, the largest owner, developer and manager of affordable housing in New York City. David had been a long time Board member of Phipps, chairing the Investment Committee as well as being a member of the Executive Committee of Phipps Houses.
In 2009, David came out of retirement and was a part of the Sanders, Morris, Harris Group, which later spun out its division and became the Concept Capital Group of Companies. A high-level senior advisor for the Group, David oversaw various projects of the companies ranging from implementation of compliance processes/procedures, internal auditing functions, payroll & benefits systems and personnel review.
Prior to joining Sanders, Morris, Harris/Concept Capital Companies, David agreed to help a friend as senior advisor of a $200M hedge fund, where roles and responsibilities included: investment and trading, personnel evaluation/hiring, and maintaining Wall Street relationships (2003).
David was a Co-Founder, Partner, Chief Operating Officer, & Head Trader of his own equity long/short, market-neutral hedge fund, TM Capital Management, from 1996-2002, with Assets Under Management (AUM) ranging from $500M to $1B. TM Capital Management returned investor capital at the end of 2002. During that period, the S&P 500 gained 63% while TM Capital Management gained 104% (69% net of fees). His responsibilities included: trading the equity portfolio, managing relationships with Wall Street, and running the management company.
David had prior hedge fund experience at Hamilton Partners (a Division of Commodities Corporation) from 1993-1996 where he and his TM Capital partner ran a long-short, market-neutral equity fund specializing in electric utilities; and Steinhardt Partners 1992-1993, where David was the deputy head equity trader of the $3Billion hedge fund.
His Wall Street experience includes running the institutional equity trading desk at County NatWest Securities from 1990-1992; and institutional block trading, convertible bond trading, index options trading, program trading and options arbitrage experience at Drexel, Burnham, Lambert, Inc. from 1984-1990.
David has been a part of many civic and charitable causes, most notably being a 12+ year member of the Edgemont Union Free School District Board of Education (including two separate terms as its President and Vice President). He also was a longtime football coach, running the Edgemont Youth Football program for 6 years and then continuing to coach football for the Edgemont Modified Football program, and then as an assistant for the Varsity Football program from 2014-18.
David is a graduate of Dartmouth College. He received an AB in 1984 and double majored in History and Asian Studies.