February 06, 2025
DAVID VITALE
MEMBER, CIVIC FEDERATION BOARD OF DIRECTORS
Day job: Chairman of several Duff & Phelps closed end funds
David Vitale serves as the chairman of several Duff & Phelps closed end funds. Previously Mr. Vitale served as the chairman of Urban Partnership Bank, a newly formed bank serving the financially underserved neighborhoods of Chicago and Detroit. Mr. Vitale was appointed and served as the president of the Chicago Board of Education by Chicago Mayor Rahm Emanuel from May 2011 until July 2015. Mr. Vitale previously served as the chief administrative officer of Chicago Public Schools from 2003-2008, pro bono. In addition, from 2008-2011, Mr. Vitale served as the chairman of the Academy for Urban School Leadership (AUSL), a teacher training and school turnaround organization that manages 31 schools.
From February 2001 through November 2002, Mr. Vitale served as president and chief executive officer of the Chicago Board of Trade. In addition, he served as a member of the CBOT’s Board of Directors and Executive Committee.
Mr. Vitale is a former vice chairman and director of Bank One Corporation. Mr. Vitale entered the banking business at The First National Bank of Chicago in 1968. He rose to president of the bank and then vice chairman of First Chicago NBD Corporation upon the merger of First Chicago and NBD.
Mr. Vitale has served on the Boards of Directors of United Airlines, Wheels, Inc., DNP Select Income Fund Inc. (Chairman), The Student Loan Marketing Association (Sallie Mae), ISO New England, and Ariel Investments.
Mr. Vitale serves on several civic and charitable boards: The Dean’s Leadership Council of the Harvard Graduate School of Education; the Board of Trustees of the Museum of Science and Industry (Chairman); The Art Institute of Chicago (Vice Chairman); the Board of Governors of the School of The Art Institute of Chicago (Chairman); the Board of Trustees of the YMCA of Metropolitan Chicago (Former Chair); Member of the Advisory Council of the Graduate School of Business at the University of Chicago; Illinois Institute of Technology (Vice Chairman); the Visiting Committee of The School for Social Service Administration at the University of Chicago; Leadership Greater Chicago (Former President); and The Chicago Council on Global Affairs. Mr. Vitale is a member of The Chicago Club, The Arts Club of Chicago, The Economic Club of Chicago, and The Commercial Club of Chicago.
Mr. Vitale lives in the Hyde Park-Kenwood neighborhood with his wife, Marilyn.
You've been a board member of the Civic Federation since 2019. What drew you to our work, and what do you find most interesting about being involved?
I actually have been engaged with the Civic Federation for over 40 years, starting when I was a bank executive. In the early 2000s, when I became involved with Chicago Public Schools, I moved to the other side of the table. Over my approximately fifteen years as president of the Board of Education and previously as chief administrative officer of CPS, I got to know Laurence Msall, Civic Federation staff, and their work through their reporting on CPS. I was always impressed with the thoroughness and quality of their work. Their criticisms of our finances were fair, although they did not always recognize the political constraints we worked under. After leaving my role as president, Laurence asked me to officially reengage with the organization, an invitation I enthusiastically accepted knowing the importance and quality of the organization’s work.
What do you find most exciting about where the Federation is going, particularly in light of our new President and Strategic Plan? What is your greatest wish for the Civic Federation for the road ahead?
First, I am pleased that the organization is staying committed to its principal work. However, its reports reached a relatively small audience that was primarily engaged with the key governmental entities the Civic Federation focused on. What I find exciting is the commitment to broaden the audience for the outstanding unbiased work the Federation does on the finances of these government organizations. Given that the finances of these organizations are strained at the moment, it is ever more important that the public has a better understanding of their challenges, which I believe will lead to better decision-making in the future. I am also pleased to see the pursuit of opportunities to partner with other civic organizations to increase the organization’s impact.
You’ve had a very impressive career, first in the banking and financial worlds and then at CPS. How did your experiences prepare you to lead the Chicago Public School District as chief administrator?
During my career in finance, that industry went through major changes — deregulation, which caused the industry to learn to service their customers better to meet competition; an increase in the scale of organizations through consolidation; and with scale came a need for significant improvement in management practices and the adoption of the use of technology and data decision making. CPS was a large organization (over $5 billion in revenue, 45,000 employees, and over 600 schools) when I joined. Like most public agencies, CPS had not kept up with the organizational and management advancements developed by private industry. Having lived through and executed most of those changes during my career, I could bring that experience to CPS.
You’re also involved and have been on the Board of many of our city’s most respected nonprofit organizations, from civic institutions to arts organizations. What do you see as the role and importance of Chicago’s vibrant nonprofit sector in our city’s civic and cultural life? Also, since you are the current Board Chair at the School of the Art Institute of Chicago, do you have anything you would like to share on the role of arts and arts education organizations in the city?
I have always believed that our institutions — government, civic, and cultural — are the fabric that stitches together the remarkable diversity of Chicago that makes us a community. The arts and arts institutions in particular reflect that diversity and the incredible creativity inherent in the mix of ethnicities and backgrounds that make up our city. As president of the Board of Education, I initiated an arts plan for the system whose goal was to bring quality arts education to every child in every school in every grade. Participating in the arts energizes our children’s creativity and enhances their ability to learn. The plan has brought CPS to a position of arts education leadership among school systems in the country. The plan led to over 1000 certified arts teachers in CPs and partnering with over 500 arts organizations throughout the city to enhance the work of our school leaders and teachers.
What impact are you trying to make and what types of challenges are you most often working to address?
I have always hoped that my board service would have four impacts. First, keeping the institution’s leadership and management focused on the organization’s core mission. Second, helping the institution adapt to its current environment. Third, maintaining a focus on developing the next generation of leadership at the board and management levels. Finally, always encouraging these organizations, as appropriate, to use their resources to advance the education of our children. The success of our key civic and cultural institutions is the key to improving the quality of life and success of Chicago.
What's your favorite Chicago hidden gem?
My hidden gem(s) are the ethnic and neighborhood eateries in our 77 neighborhoods that provide a truly gastronomical tour of the world, all within Chicago’s borders.
What do you most enjoy doing in your free time?
I enjoy biking on the south lakefront bike path with its fantastic views of the downtown, a little bit of golf, and traveling with my family.