David Sung

David Sung is the partner in charge of the asset management practice in the Pacific Northwest region for Ernst & Young, L.L.P. He has over 26 years of experience in serving the Bay Area investment industry. He is a founding member of the firm's offshore fund committee that focuses in providing uniform and consistent audit services to investment fund clients situated in Europe, Asia, the Caribbean and the Americas. His clients include some of the largest global hedge and private equity funds, as well as start-up funds. He works with management in determining the best organization structure and approaches they should take in starting new funds. He advises clients on various topics including accounting and tax issues, personnel needs, compensation arrangements, back office support, selection of attorneys and prime brokers.

As a member of the California Investment Advisor Committee, he co-headed the successful movement to pass SB 723, which made it clear that simply retaining the services of a California-based investment advisor does not cause a non-resident to be subject to California tax on investment income. Likewise, out-of-state investors are not subject to California tax on their investment income simply because they invest in a California-based mutual fund or investment trust. He received his Bachelor’s Degree in Accounting from the University of San Francisco. He is the treasurer and a member of the Board of Directors of Summer Search and is also a board member of Hedge Funds Care. David is a member of the American Institute of Certified Public Accountants, and the California Society of Certified Public Accountants.