Officers and Key Staff
Chang Suh is the Chief Executive Officer (CEO) and Chief Investment Officer for the AFL-CIO Housing Investment Trust (HIT). In his more than 20 years with the HIT, Mr. Suh has helped generate thousands of jobs and housing units while managing HIT’s portfolio toward its investment objectives. Mr. Suh is committed to impact investing and is known in the industry to be an innovator in structured finance for housing-related investments. Mr. Suh is responsible for the HIT’s administration and advancing its mission of generating competitive returns, union construction jobs, and affordable housing units. Mr. Suh joined the HIT in 1998 as a member of the portfolio management team, serving as Chief Portfolio Manager for 15 years, and was named CEO in 2018. Mr. Suh has broad experience in all aspects of the portfolio management functions at the HIT and has built a world-class portfolio management team that specializes in multifamily mortgage securities.
Before joining the HIT, Mr. Suh was a Senior Auditor in the Financial Services Group of Arthur Andersen, specializing in the commercial mortgage industry.
Mr. Suh currently holds the CFA Institute’s Chartered Financial Analyst designation and previously was a Certified Public Accountant in the state of Virginia. His professional memberships include Chartered Financial Analyst Institute and Washington Society of Investment Analysts. He holds a Bachelor of Science degree in Accounting from the University of Maryland.
Ms. White is Chief Marketing Officer for the HIT. She is responsible for leading the overall marketing of the HIT to defined benefit plans and coordinating investor relations activities of the Marketing Division, while also managing client relationships. She is also actively involved in raising capital for the HIT Daily Valued Fund (HIT-DVF), a core fixed-income fund for defined contribution plan participants. Ms. White began working for the HIT in Washington, DC, in 1999 as a Senior Marketing Associate and later as Regional Marketing Director for the Northeast Region. Ms. White is a member of the HIT’s Human Resource, Investment and Portfolio Management Committees.
Prior to joining the HIT, Ms. White was a Vice-President in the Corporate and Institutional Services Division for the Northern Trust Company in Chicago where she was responsible for marketing custody, investment and securities lending services to Taft-Hartley and public employee pension plans. Ms. White also served as a Treasury Management Division Product Manager for Corporate Money Market Account and Insurance Company Services. She was previously in private legal practice in Washington, D.C., with the firm of Leftwich & Douglas. Ms. White also worked as a Staff Attorney at the Pension Rights Center where she assisted workers, retirees and their beneficiaries with pension problems.
In addition, Ms. White currently serves as a Commissioner for the District of Columbia Board of Zoning Adjustments.
Ms. White earned a Bachelor’s degree and Juris Doctor degree from Howard University.
Ms. Khatchadourian is the Chief Operating Officer for the HIT. She is responsible for managing the internal operations of the HIT and implementing new strategies to improve efficiency and communication across all departments of the HIT. Ms. Khatchadourian works closely with all executive staff and has direct oversight over the human resources, administrative and information technology functions of the HIT. As a regulated entity, she is also involved in compliance with SEC regulations. Currently, Ms. Khatchadourian chairs the HIT’s Valuation, Investment, Cybersecurity and Human Resource Committees. She has extensive experience in operations, general and personnel management and policy development and accounting for financial transactions.
Ms. Khatchadourian previously served as the HIT’s Chief Financial Officer, Executive Vice President – Finance & Administration, Controller, Chief of Staff, Director of Operations and Budget Manager. Prior to joining the HIT in 1993, Ms. Khatchadourian was a Senior Consultant with Price Waterhouse.
Ms. Khatchadourian serves on both the Finance and Governance committees of the Arlington Partnership of Affordable Housing (APAH) a nonprofit affordable housing developer. She also serves on the Corporate Advisory Board of So Other’s May Eat (SOME), a DC based non-profit that exists to help the homeless and underserved community of our nation’s capital.
Ms. Khatchadourian has a Bachelor of Accountancy from The George Washington University and previously held a Certified Public Accountant certificate through the Commonwealth of Pennsylvania.
William Pierce is the Senior Portfolio Manager for the AFL-CIO Housing Investment Trust. He oversees and manages the day-to-day portfolio operations including strategy execution, security selection, portfolio risk systems, economic and market fundamental and technical analysis, relative value and analytic platform development, and asset surveillance. In addition, Mr. Pierce is a member of the Investment and Portfolio Management committees.
Prior to joining the HIT, Mr. Pierce was a portfolio manager for Capital One’s fixed income portfolio in Tysons, VA, focusing primarily on Residential and Commercial Mortgage-Backed Securities as well as US Treasuries. He managed strategy implementation, security selection, and trade execution of Capital One’s $10+ billion Agency CMBS portfolio. Mr. Pierce also worked for Credit Suisse in interest rate derivative sales.
Mr. Pierce holds the CFA Institute’s Chartered Financial Analyst designation. He graduated magna cum laude from Georgetown University’s McDonough School of Business with a Bachelor of Business Administration in both Finance and Accounting, as well as a minor in Mathematics.
As General Counsel, Mr. Milano serves as chief legal officer of the HIT. His responsibilities include advising the HIT on compliance with applicable legal requirements and rules, as well as managing the HIT’s legal department and outside counsel. He served as the HIT’s Deputy General Counsel and Chief Compliance Officer from 2003 to 2007. Mr. Milano is Co-chair of the HIT’s Investment Committee, and is a member of the HIT’s Valuation and Human Resource Committees.
Before his appointment as HIT General Counsel in 2013, Mr. Milano was Senior Counsel with the business practice division of the law firm Perkins Coie, focusing on investment management and financial services matters, particularly compliance with regulations under federal and state securities laws. He served in 2007-12 as Deputy General Counsel and Chief Compliance Officer for Legg Mason Capital Management, where he was responsible for corporate and regulatory legal matters and directed the company’s compliance program. Mr. Milano earlier held the position of Senior Counsel at the U.S. Securities and Exchange Commission, Division of Investment Management and at the U.S. Commodity Futures Trading Commission (CFTC), Division of Trading and Markets, having earlier served as a trial attorney for the CFTC’s Division of Enforcement.
Mr. Milano holds a Bachelor’s degree from Loyola University Maryland and a Juris Doctor degree from George Mason University School of Law. He is a member of the Bars of Maryland and the District of Columbia. Professionally he serves as a member of the D.C. Bar Association’s Corporation, Finance, and Securities Law Section.
Harpreet Peleg is the Chief Financial Officer for the AFL-CIO Housing Investment Trust. In her role as Chief Financial Officer, Ms. Peleg is responsible for accounting operations, financial reporting, budgeting and analysis for the Trust. She also handles technical accounting matters, annual audit and tax, board reporting, SEC and other regulatory compliance matters, and oversees the treasury function. Ms. Peleg is the Chair of the HIT’s Portfolio Management Committee and is a member of the Valuation, Human Resources, and Cybersecurity Committees. Ms. Peleg also currently serves as Chief Executive Officer of Building America CDE, Inc., the Trust’s New Markets Tax Credits affiliate, focused on revitalizing underserved communities through transformative investments that create jobs and deliver measurable impacts.
She started her career at PWC, a big four public accounting firm, and transitioned to Goldman Sachs, a prominent global investment bank, both of which provided the foundation for solid technical accounting and finance skills. She continued her professional development at PG&E National Energy Group where she was exposed to natural gas & energy trading. Following this, Ms. Peleg was the CFO for the AFL-CIO Investment Trust Corporation, an Institutional Investor Relations firm.
Ms. Peleg received a Bachelor of Science in Accounting from Rutgers College and a Master of Science in the Management of Information Technology from the University of Virginia. She previously held a Certified Public Accountant certificate through the State of New York. Ms. Peleg also holds the CFA Institute’s Chartered Financial Analyst designation and is a member of CFA Institute and the CFA Society of Washington, DC.
Ted Chandler is Senior Managing Director – Strategic Initiatives for the AFL-CIO Housing Investment Trust (HIT) with 30 years of experience in housing finance and community development, including 15 years with Fannie Mae and six years with the Boston Redevelopment Authority (BRA). From 2009-2018, he served as Chief Operating Officer of the HIT. As Senior Managing Director, he assists in overseeing the company’s operations in key markets across the country. Mr. Chandler is also instrumental in launching HIT’s community investment initiatives. Mr. Chandler is a member of the Portfolio Management, Investment, and Valuation Committees.
As Vice President of marketing for Fannie Mae’s Western Regional Office in Pasadena, CA, Mr. Chandler was responsible for managing relationships with national mortgage banking customers. Previously at Fannie Mae he served as Vice President of Housing and Community Development for the western United States, and before that as Director of the Boston Partnership Office. During his time with the Boston Redevelopment Authority, Mr. Chandler served as Chief Executive and Chief of Staff. He was later Deputy Executive Director of the Massachusetts Industrial Finance Agency (now MassDevelopment).
Mr. Chandler is immediate past Chair (2015-2018) of the Board of the National Housing Conference; vice chair of the Board of Heartland Capital Strategies; and a former member of the advisory board of the Taubman Center for State and Local Government at the Kennedy School of Government, Harvard University. He is a founder and Director Emeritus of the California Housing Consortium.
Mr. Chandler holds a Bachelor’s degree from Harvard College and a Juris Doctor degree from Stanford University Law School.
Mr. Hanley currently serves as Senior Managing Director – Multifamily Origination and is responsible for the origination and underwriting of multifamily investments for the AFL-CIO Housing Investment Trust (“HIT”). For over 30 years, Mr. Hanley has invested union pension funds in commercial real estate developments using both debt and equity structures. Mr. Hanley was previously with the HIT and the AFL-CIO Investment Trust Corporation between 1992 and 2006 in a variety of roles including the position of Executive Vice President – Investments and Portfolio Management. Prior to rejoining the HIT, he served for 13 years as Director – Investments for the National Real Estate Advisors (“National”), the investment advisor for the National Electrical Benefit Fund (NEBF). During his time at National, Mr. Hanley was responsible for originating, underwriting and closing commercial real estate loans. Mr. Hanley is a member of the HIT’s Investment, Portfolio Management and Valuation Committees.
Mr. Hanley holds a Bachelor of Science degree in Business Administration and Finance from Villanova University and a Master of Business Administration degree with a concentration in Real Estate and Urban Development from The American University.
Julissa Servello is Director of Investor Relations for the AFL-CIO Housing Investment Trust. Ms. Servello’s responsibilities include managing the communication with investors and consultants regarding statements, performance, questions regarding the investment process and other requests. Her responsibilities also include coordinating the preparation of marketing materials and response to RFPs and questionnaires from investors and investment consultants, ensuring proper clearance is obtained prior to submitting responses. Ms. Servello serves as the primary liaison between the Transfer Agent and HIT staff regarding participant investments. She joined the HIT in 1998 as a marketing assistant. Ms. Servello is a member of HIT’s Investment Committee.
Ms. Servello graduated with honors from the University of Maryland with a Bachelor of Science degree in Finance.
Kevin P. Murphy is Regional Director – Marketing for the AFL-CIO Housing Investment Trust (HIT). Based at the HIT’s home office in Washington, DC, he handles relations with HIT investors in the Northeast U.S. and is responsible for the HIT’s marketing strategy in the region, working with both current and potential HIT investors and their consultants.
Mr. Murphy, who joined the HIT in 2013, has 28 years of marketing experience, with a focus on Taft-Hartley funds. Prior to joining the HIT, he was Director of Taft-Hartley Sales for Fifth Third Asset Management in Washington, DC, where he was responsible for developing the Taft-Hartley institutional investment market in the Mid-Atlantic Region. Earlier, from 1999 to 2003, Mr. Murphy served as Director of Taft-Hartley sales in the Mid- Atlantic Region for Columbia Management out of Portland, Oregon. Mr. Murphy was previously Vice President of Taft-Hartley sales for ASB Capital Management/Chevy Chase Bank, spearheading the group’s entry into the Taft-Hartley market, and for Blue Cross Blue Shield of the National Capital Area, both in Washington, DC. He also spent five years in sales and client services with Union Labor Life in Washington, DC.
Mr. Murphy holds a Bachelor of Arts degree from Mount St. Mary’s University in Emmitsburg, Maryland. Mr. Murphy is a member of Ironworkers Local 5, Washington, DC.
Brian Norton serves as Regional Director – Marketing for the AFL-CIO Housing Investment Trust (HIT). Based in the Boston area, Mr. Norton works with current and potential HIT investors and their consultants in the Northeast region.
Mr. Norton has over 25 years of experience in institutional management and marketing, having worked with union and public retirement plans throughout the Northeast for most of his career. Prior to joining the HIT in 2016, Mr. Norton was Managing Director for Cold Creek Capital in Boston. Earlier, he held marketing and relationship management positions with ICC Capital Management in New York City and Fortis Investments, INVESCO, and Putnam Investments in Boston. Mr. Norton graduated from Babson College in Wellesley, MA with a degree in Business Management.
Paul Sommers is Regional Director – Marketing for the AFL-CIO Housing Investment Trust (HIT). He is the primary contact for Taft-Hartley and Public Employee Pension Plans in the Midwest handling client service, sales and consultant relations throughout region including HIT key markets of Illinois, Minnesota, Missouri, Ohio and Wisconsin. Paul has over 25 years of experience covering institutional markets. Prior to joining the HIT in 2006, Mr. Sommers was Vice President of the Taft-Hartley Institutional Investment Group of PNC Advisors.
Mr. Sommers is a graduate of Loyola Marymount University in Los Angeles, California, where he received his Bachelor of Business Administration in Finance with a minor in Economics.