Charles Schorin, Former Elliott Management Portfolio Manager, Joins Mental Health Tech Nonprofit Project Healthy Minds Board of Directors

New York, June 22, 2023 — Project Healthy Minds, a millennial / Gen Z-driven mental health nonprofit, announced today that it has appointed veteran investor Charles (Chip) Schorin to its Board of Directors. For 15 years, Schorin was a Portfolio Manager at Elliott Management Corporation, a hedge fund with approximately $50 billion in assets under management, where he founded and led the mortgage-backed securities trading business, as well as investments in other secured assets. Prior to joining Elliott in 2005, he was a Managing Director at Morgan Stanley.

“For 30+ years, Chip has been a stellar leader in the investment world, while also being a socially-conscious, citizen-activist,” said Phillip Schermer, Founder and CEO of Project Healthy Minds. “I can’t think of a better combination of expertise and experience for our Board of Directors as we enter this next phase of growth.”

Schorin is now the Founder and Managing Member of Taconic Advisory Services, LLC, a consulting firm servicing clientele at the intersection of the mortgage and fintech spheres, advising on product structure, strategy and capital markets, as well as venture investing in early- stage companies.

Prior to his Wall Street career, Schorin was a staff economist on the Council of Economic Advisers in the Executive Office of the President of the United States, as well as the Federal Reserve Bank of New York.  

“Mental health has become the preeminent public health issue in this country and it has far-reaching implications throughout our society,” explained Schorin. “Addressing mental health is crucial, especially for the generation now coming of age, for whom the isolation from the COVID pandemic exacerbated latent stress and anxiety.” Schorin continued, “I was impressed with what Project Healthy Minds has accomplished to-date and their vision for the future, and I was enthusiastic to jump on board to help them get to the next level in combatting the mental health crisis.”

Project Healthy Minds’ work focuses on three key pillars:

  • Democratizing access to mental health services by building the world’s first digital mental health marketplace
  • Destigmatizing mental health by partnering with culture-makers
  • Improving access and affordability by advocating for innovative workplace investments in employee mental health

The growing mental health crisis, which was already at epidemic levels pre-pandemic, is now a center stage issue. In May 2023, the U.S. Surgeon General released a report on the epidemic of loneliness, which highlighted the physical health consequences of poor or insufficient connection include: a 29% increased risk of heart disease, a 32% increased risk of stroke, and a 50% increased risk of developing dementia for older adults. Mental health has replaced COVID as the top health concern among Americans, according to a recent IPSOS survey. Teen girls are experiencing record levels of sadness and suicide risk according to the CDC. Mental health is also costing businesses. Mental health costs the U.S. economy $47.6 billion annually in lost productivity, according to new research from Gallup.

About Project Healthy Minds
Project Healthy Minds is a Millennial & Gen Z-driven mental health tech nonprofit startup. Project Healthy Minds is democratizing access to mental health services by building the world’s first digital mental health marketplace, destigmatizing mental health by partnering with culture-makers, and improving access and affordability by advocating for innovative workplace investments in employee mental health. The nonprofit is focused on closing the treatment gap in America by attacking these primary barriers to care: stigma, discoverability, and affordability. Project Healthy Minds’ programmatic initiatives serve more than 200,000 people annually.

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