Deputy Chairman of Foremost Group, Angela Chao holds responsibilities in finance, ship management and chartering. Ms. Chao is also extensively involved with voluntary and charitable ventures.
After achieving an undergraduate degree in economics magna cum laude within three years from Harvard College, Angela Chao continued her studies at Harvard Business School. Besides graduating from the school with her M.B.A., Ms. Chao wrote an acclaimed academically published finance case named "Ocean Carriers." The publication is used at Harvard Business School in the first year curriculum as well as at other business schools throughout the US. As an undergraduate Angela Chao produced a thesis named "Empirical Tests of Status Consumption" which has been cited in academic publications as well as being published in short form in the Journal of Economic Psychology.
Tradition of Contribution
Angela Chao was born in the US to American parents of Chinese descent and is the youngest of six children. Although attaining significant achievement in China, Dr. James Chao and Mrs. Ruth Chao underwent tribulations and a three year separation to achieve better prospects on foreign soil. Achieving success in the US awarded the Chao family with the opportunity to contribute to society. Their faith in the enduring significance of ongoing education is presented in their generosity to educational institutions. Angela Chao's sister, Elaine Chao further bolstered the family's reputation of achievement by becoming the first Asian woman appointed to the Cabinet in US history as well as the Secretary of Labor with the longest tenure since the Second World War.
Before Angela Chao started working as deputy chairman of Foremost Group in 2009, she held the positions of vice president and senior vice president. Ms. Chao initially concentrated her efforts on ship operations and management and her responsibilities later extended to include finance and chartering. Before working at Foremost Group she worked in the mergers and acquisitions sector for a company now acquired by Citigroup - an investment banking firm. Ms. Chao is a regular guest speaker in cities across the US, Europe and Asia and is engaged with organizations like the Council on Foreign Relations. She also previously served on the executive committee of the Baltic International Maritime Council.
Angela Chao participates in many volunteer activities and serves as President of the Foremost Foundation, an organization started by the Chao family. The foundation concentrates on helping young people to achieve further education to improve opportunities and also has initiatives in healthcare and cultural bridges between Asia and the US. The Chao family holds great respect for Harvard Business School and, through the Foremost Foundation, has recently given the school $40 million. The donation was made with the goal of building a new executive education center and supporting student fellowships. The new center will be built as a tribute to Angela Chao's mother, the late Mrs. Ruth Mulan Chu Chao.
Away from her business concerns and philanthropic activities Angela Chao is an avid patron of the arts. She currently calls New York City her home and is a firm supporter of New York City’s great cultural institutions