Dan Chung Rebuilt Alger Management After Losing 35 Staff on 9/11

Most fund managers talk about surviving bear markets. Dan Chung survived something far worse. The CEO and chief investment officer of Fred Alger Management was away from the office when the September 11 attacks hit, a stroke of chance that kept him alive while 35 of his colleagues were killed. That's not a footnote — it's the defining moment of his career and his firm's entire identity.

What came next would have broken most people. Chung was handed the task of rebuilding a decimated organization from the ground up, with grief layered over every business decision. Alger had been headquartered in the World Trade Center, meaning the firm didn't just lose people — it lost its physical home, its operational infrastructure, and a massive chunk of institutional knowledge all at once.

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The fact that Alger is still standing, still managing money, and still finding market winners is a testament to how Chung approached that reconstruction. Turnarounds in asset management are rare even under normal circumstances. Doing it after a catastrophic human loss requires a different kind of leadership — one that balances mourning with momentum.

Today, Chung remains at the helm as both CEO and CIO, a dual role that keeps him directly connected to the investment process. That hands-on approach matters in active management, where conviction and continuity at the top can be the difference between alpha and drift. Alger has long been known for its growth-oriented, research-intensive style — a philosophy that demands the kind of long-term institutional commitment Chung has clearly provided.

If you want to understand how a firm rebuilds after the unthinkable — and what kind of market mindset survives that crucible — this story is worth your full attention. Continue reading at US Top News and Analysis.