NEW YORK, NY.- J. Tomilson Hill, Chair, and Wendy Fisher, President, Solomon R. Guggenheim Foundation, today announced that Frank Yu has been elected to the Board of Trustees.

In a joint statement Hill and Fisher remark “Frank’s passion for art and world cultures, as well as his international business experience and demonstrated commitment to philanthropic activities, make him a significant asset to the Guggenheim Foundation Board of Trustees. We look forward to working closely with Frank to advance the mission and strategic objectives of the Guggenheim.”

Richard Armstrong, Director, Solomon R. Guggenheim Museum and Foundation, said, “As a global business leader active in the United States, Europe, and Asia, Frank’s dynamic expertise and financial acumen together with his keen interest in the visual arts will bring a welcome perspective to the board.”

Frank Yu

Frank Yu is the founder, chief executive officer, and chief investment officer of Ally Bridge Group, a leading global life science investment group with dual headquarters in New York and Hong Kong. Yu began his career in New York, then worked in Hong Kong for over two decades. Previously, he served as managing director in Hong Kong at Sculptor Capital Management, a prominent global hedge fund. Before that, Yu was a managing director at Goldman Sachs in Hong Kong where he worked for nearly a decade, led several business units, and played key roles in some of the most important restructuring, IPO, and mergers and acquisitions transactions in Asia. Prior to that, he worked at Moody’s in New York and Credit Suisse in London and Hong Kong.